Aether Systems Inc., Owings Mills, Md., has hired FBR Investment Management Inc. to assist it in assembling and managing a leveraged portfolio of mortgage-backed securities.Aether said the move is "part of an evolving strategy initially designed to increase the yield on its excess cash balances and ultimately representing what could become a more significant business activity for Aether in the future." Aether plans to invest up to $75 million of its current cash and to leverage this amount between five and eight times to assemble an initial portfolio of $450 million to $675 million in value. The company can be found online at http://www.aethersystems.com.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25