The chief regulator who oversees the Federal Home Loan Bank system is the subject of a criminal probe regarding possible obstruction-of-justice charges, according to a report by Dow Jones.The news wire reported that Federal Housing Finance Board Chairman John Korsmo and his wife, Michelle Larson Korsmo, were told by federal prosecutors last summer that they had evidence linking them to a crime. For several months, the FHFB's office of inspector general has been investigating whether Mr. Korsmo violated any laws by lending his name to a political fund-raiser. Mr. Korsmo has maintained that he did nothing wrong in regard to the fund-raiser. As for the obstruction-of-justice allegations, Mr. Korsmo could not be reached for comment by MortgageWire's deadline on Thursday. An FHFB spokesman said he could not comment on the matter, noting that it "isn't agency business." Mrs. Korsmo also could not be reached for comment.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
Just now -
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 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
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.
April 25