Fitch Cuts Ratings on Two Mortgage Lenders

MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.

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Friday, Oct 21 2022

Written by The Mortgage Leader

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

Fitch 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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