Freddie Mac said its total portfolio of loans and guaranteed loans grew at an annualized rate of 13.2% in January.However, Freddie Mac's retained portfolio decreased at a 9.9% annualized rate in January, leaving the guaranteed portfolio to make up the growth. Retained portfolio purchases totaled $12.4 billion in January, down from $36.2 billion in December of 2005. Total guaranteed participation certificates increased at an annualized rate of 17.1%. Earlier this month, Freddie Mac president and COO Eugene McQuade predicted that a flat yield curve would create opportunities for Freddie Mac to increase its portfolio by making fixed-rate mortgages more popular than adjustable rate products with consumers and by making residential mortgages a less attractive asset for banks to hold. "While we have yet to see a sell off of fixed-rate mortgages from bank portfolios, even slightly reduced investment by banks should create better fixed-rate buying opportunities for us in 2006," Mr. McQuade said.
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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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