Thornburg Mortgage Inc., Santa Fe, N.M., has reported doubling the size of its asset-backed commercial paper facility to $10 billion.The company said the facility provides it with another way to finance its adjustable-rate mortgage securities portfolio. Thornburg Mortgage Capital Resources LLC, a special-purpose bankruptcy-remote entity created especially for the CP facility, acts as the financing vehicle by issuing commercial paper in the form of short-term notes, Thornburg said. Lehman Brothers Inc. is the structuring agent and lead dealer for the transaction. Thornburg, a real estate investment trust and mortgage lender focused on the jumbo ARM segment, can be found online at http://www.thornburg.com.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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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.
April 25