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Fitch Cuts Ratings on Two Mortgage Lenders

Financial services company Fitch Ratings has added to the gloom for the mortgage industry, downgrading two lenders.

thumb down 1426814 640 480x480Fitch downgraded Provident Funding from “B+” to “B” and Finance of America from “B+” all the way to “B-,” according to two separate announcements.

At the same time, Fitch affirmed a negative outlook for Home Point, revised its outlook to negative for Freedom Mortgage Corp. and said its outlook for United Wholesale Mortgage is “stable."

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