Eric Holder gives big banks a warning, an employee allegedly threatens the former head of the FHFA, and now you can buy a house where everybody knows your name. All this and more on MPA's weekly update.
Video transcript below:
No company is too big to jail. A threat to the former head of the FHFA and a house where everybody knows your name. Happy Friday everybody. I’m Ryan Smith and this is MPA’s weekly update.
There is no such thing as too big to jail, according to Attorney General, Eric Holder. Holder said this week that the Justice Department was pursuing criminal investigations against a number of financial institutions and would prosecute those institutions despite their size. Holder declined to name specific institutions being investigated by the Justice Department, but did say that no company or individual, no matter their size or profitability was above the law.
The Chief Operating Officer of the Federal Housing Finance Agency has been arrested and charged with threatening that agency’s former acting director. FHFA COO, Richard Hornsby was charged for the felony last week after allegedly threatening to shoot former acting director, Edward DeMarco and then kill himself. An unnamed FHFA employee said the threats were made because of disputes over Hornsby’s job performance rating. Hornsby was released without having to post bond, but told to stay from both Demarco and the
Agency’s Washington offices which should be sufficient because as we know stern warnings are like kryptonite to guys who threaten to shoot the bosses.
Well, if you are looking for a great home, we have a place for you, this Indianapolis loft currently listed for $2.5 million on Realtor.com comes with 5 bedrooms, a spacious kitchen, a home theatre and a terrifying dead eyed mural of a cast of cheers painted on the game room wall. The Huffington Post reported on this story back in January and shockingly as of this week the house is still on the market. Come to think of it maybe that’s why I have had such a hard time selling my house.
Fixed rates moved further down this week as economic growth for the quarter came in weaker than expected. The 30 year fixed rate mortgage averaged 4.21% this week, down from last week’s average of 4.29%. The 5 year adjustable rate held steady this week at 3.05% and the 1 year ARM averaged 2.43%, down from last week’s average of 2.45%.
For MPA, I’m Ryan Smith, have a great weekend.