Kenneth M. Duberstein -- one of the few remaining directors from the "Raines era" at Fannie Mae -- will step down on Feb. 15, according to a federal filing by the company.Mr. Duberstein has been a Fannie Mae director since 1998. He is chairman and chief executive of The Duberstein Group Inc., an independent strategic planning and consulting firm. In years past, Mr. Duberstein's lobbying firm has done work for the company. Mr. Raines was forced out of Fannie in December 2004 as the government-sponsored enterprise's accounting scandal widened. The Raines-era directors -- including Mr. Duberstein -- are defendants in a shareholder lawsuit that accuses board members (and current and former executives) of profiting from the GSE's accounting manipulations "via huge bonuses, improper stock sales and/or a web of lucrative personal" and financial interrelationships. Fannie Mae can be found on the Web at http://www.fanniemae.com.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22