Fannie Mae and Freddie Mac should expect to be the subject of special and targeted exams as the Office of Federal Housing Enterprise Oversight looks for emerging problems and continues to monitor the GSEs' efforts to put their houses in order, according to OFHEO's proposed strategic plan.OFHEO plans to "perform targeted examinations that explore areas of concern in a more-in-depth and focused way, pursuing higher risk issues arising from ongoing examinations," the proposed plan says. The comment period ends Sept. 13. The 24-page strategic plan also puts special emphasis on validating the information OFHEO receives from the two government-sponsored enterprises and developing a meaningful risk-based capital standard -- along with "additional measures of capital adequacy, which may require legislation." OFHEO Director James Lockhart also wants the agency's researchers and analysts to focus on key policy issues, such as the implications of loan-limit changes and GSE market share.
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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.
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