Four former Freddie Mac executives agreed to pay civil fines totaling $515,000 and to forfeit $258,000 in ill-gotten gains as part of a settlement with the Securities and Exchange Commission.The SEC charged Freddie Mac with securities fraud and the former executives with negligent conduct, which they settled without admitting or denying the allegation. Former Freddie president and chief operating officer David Glenn agreed to pay a $250,000 civil penalty and to disgorge $150,000. Former chief financial officer Vaughn Clarke agreed to pay a $125,000 civil penalty and disgorge $29,227. Former senior vice president Nazir Dossani agreed to pay a $75,000 penalty and disgorge $61,663, and ex-SVP Robert Dean agreed to pay a $65,000 penalty and disgorge $34,658. Former Freddie chairman and chief executive Leland Brendsel, who is facing an enforcement action by the Office of Federal Housing Enterprise Oversight that is before an administrative law judge, is not part of the SEC enforcement action.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
July 3 -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
July 3 -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3