Members of the Federal Home Loan Bank of Chicago could see their dividends reduced and stock redemptions delayed or denied under a cease-and-desist order being considered by the Federal Housing Finance Board, the Chicago bank has disclosed in a securities filing.The Chicago bank said it received a draft of the C&D order on Sept. 24 and is in discussions with the Finance Board. The Chicago bank paid a 2.8% dividend in the second quarter. In a letter to members, Chicago FHLBank president Mike Thomas said the C&D order would not affect any services or products. Mr. Thomas also said the "possibility of a merger with the Dallas FHLBank continues," but that an agreement has not been reached.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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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.
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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.
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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