Fannie Mae only has to raise $5.11 billion in new capital to comply with a supervisory agreement with the Office of Federal Housing Enterprise Oversight, not $9.46 billion as reported by MortgageWire on Sept. 27.Fannie's board of directors agreed to achieve a capital surplus of 30% over the next nine months, which would require the company to have $9.46 billion in surplus capital. However, Fannie Mae already had $4.35 billion in surplus capital as of March 31.
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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.
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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.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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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.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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