Freddie Mac has announced the pricing of a $2.5 billion 5% Gold MACS Strip security.The weighted average coupon is 5.53%, the weighted average maturity is 355 months, and the weighted average loan age is four months, the government-sponsored enterprise reported. The settlement date of the issue (CUSIPs: IO 31282YDN6, PO 3128HVC80) is Nov. 19. The transaction is lead managed by J.P. Morgan Chase and UBS Investment Bank. Freddie Mac can be found online at http://www.freddiemac.com.
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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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