The Chicago Federal Home Loan Bank, which is in the midst of a restatement, has declared a 5.5% dividend for the fourth quarter.The FHLBank paid a 6% dividend in the third quarter, but a 5.5% dividend is the maximum the bank can pay under its supervisory agreement with the Federal Housing Finance Board. The Chicago bank is still weeks away from filing its third-quarter financial statement and a restatement of 2003 earnings, according to spokesman David Feldhaus. The bank is also behind in reporting origination data for its Mortgage Partnership Finance program. The last report showed $7.6 billion in total MPF loan production for the second quarter.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28