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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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.
9h 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.
9h 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