Federal Home Loan Banks

Fair Housing Act and other federal provisions regarding discrimination became law binding. A precedent regarding the application and interpretation of the anti-discrimination provisions was waiting to be set for local neighborhoods in the United States. Robert Laufman, a leading Cincinnati civil rights attorney, would be the one to set such a precedent by brining the first fair lending case to the federal courtroom. In 1971, Robert Laufman, a former engineer for General Electric, became an attorney…

Countrywide Home Loans The Company, Customers, History, Products, Services, and State Countrywide Home Loans (Countrywide HL) primarily provide, service, and sell mortgage loans. Mortgage loan and after-loan servicing include service such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US)…

Case of Eileen Foster v. BofA and Countrywide The story starts March 7, 2007. Eileen Foster was promoted to Executive Vice President, Fraud Risk Management while she was working for the Countrywide Financial Corp. This role requires our whistleblower to supervise and monitor internal bank processes and mortgage fraud investigations, if needed, organize and send conclusion in the form of suspicious activity report to the U.S. Treasury as well as the board of directors. During her time, she…

There is no better time to apply for an equity home loan. Of course, the value of real estate has dropped in the last year but it is starting to grow again and the market is so competitive that lenders are giving very good annual percentage rate and interest rate so maybe it is time you started looking for the lowest rate equity home loan. An equity home loan is basically a second mortgage in which your guarantee is your house, more exactly you equity, the amount between the value of your house…

Plantation Shutters In 1979, Peter Allen, the renowned Aussie songwriter, wrote a popular song for the Broadway show All That Jazz entitled, “Everything Old is New Again”. Those few words completely define the return of plantation shutters as window décors for the 21st century. They are also the must-have accessories for outdoor patios, verandas, porches, and balconies. Beyond giving your indoor and outdoor areas an eye-appealing classical sophistication, plantation shutters come with a…

I have been married to my husband for 31 years, but didn't realize until we retiled our bathroom that I didn't really know him. It seemed like a simple, life affirming act. Our home of 26 years had needed a new bathroom since the 1994 Northridge quake. Far be it from us to act in haste. No we let it settle... for 13 years. We let all possible manner of aftershocks subside. We gave it lots of thought and then found a neighbor who agreed to do the highly skilled stuff, like the "tiling" for a…

support. This means that there is, generally, no one supporting the majority of foster youth during college. Nonetheless, there is generally some level of basic funding made available for foster youth; the majority of foster youth qualify for Federal educational assistance at the highest level. However, this author argues that the current national level of financial support is not adequate. Federally Administered Funding Name Detail Website Pell Grant $5,815 per academic year, limited to 12…

it’s deposited in the bank? Has it ever crossed your mind how banks can afford to stay open? Well, after my research on the Fractional Reserve Banking System, I’ve learned a lot about where our money goes and how banks can afford to keep their doors open. There are many different systems put in place by the Federal Reserve Market Committee such as Open Market Operations, Federal Funds Target Rate, and the Discount Target Rate. The nature of the Fractional Reserve Banking System allows banks to…

They were both labeled as government-sponsored enterprises, meaning that Congress created them in order to provide financial services. Being that they were sponsored by the government, they were able to engage in riskier practices than most mortgage companies because they would be bailed-out if they ever failed. For example, whereas large banks had to put aside enough capital to cover 8% of their portfolio’s, Fannie Mae and Freddie Mac only put aside a fraction of that. As a result, they were…

It is the way to the small regional bank to lend the mortgage to the customers without having the tension that whether the borrower will be able to repay the loan or not. There is a role of bank to act as an intermediary between the investment markets and the homebuyer. This type of security is used to give the principal payments and interest from the pool of mortgage to the shareholders. These types of securities are issues and guaranteed by Federal National Mortgage Association (FNMA), Federal…