A Federal judge has ordered former Freddie Mac chairman and chief executive Leland Brendsel to testify before the Office of Federal Housing Enterprise Oversight, which continues to probe the mortgage giant's $5 billion accounting scandal.Last fall the agency subpoenaed Mr. Brendsel's testimony, but his attorneys argued that it was not needed because the agency has already completed its report on the accounting scandal. Even though OFHEO has completed the bulk of the investigative work, it is continuing to look at certain aspects of the scandal, including Wall Street's role in some of the derivative transactions that shifted income to future years. Mr. Brendsel is expected to appeal the judge's ruling, which came late on Monday. His attorney declined to comment.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
8h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
8h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
8h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
11h ago -
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