Freddie Mac is talking to its chief in-house lobbyist, R. Mitchell Delk, regarding his "continued employment" with the company, according to a spokeswoman for the mortgage giant.Asked whether Mr. Delk would be leaving the company, the spokeswoman said, "Not necessarily." According to a report in the Wall Street Journal, Mr. Delk is negotiating "the terms of his departure" with Freddie. Mr. Delk, who carries the title of senior vice president of government relations and public policy, earned $1.14 million in compensation last year. He could not be reached for comment as of MortgageWire's deadline on Wednesday. Last fall, the consumer advocacy group Public Citizen asked the Federal Elections Commission to investigate alleged violations of campaign finance laws by Mr. Delk and a Republican fund-raising firm. Public Citizen, though, did not accuse Freddie Mac, as a corporate entity, of any campaign finance law violations. If Mr. Delk did leave, it would come at a critical time for the company. Congress is considering legislation to strengthen regulatory oversight of Freddie, Fannie Mae, and the Federal Home Loan Bank System. 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.
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 -
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.
April 25