New Fed Mortgage Expands Lending Coverage on the East Coast into Virginia

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Authorizes a state civil action to enforce the Truth in Lending Act, or any mortgage loan rule promulgated by the FTC, to obtain penalties and relief whenever the state attorney general has reason to believe that the interests of the residents of the state have been or are being threatened or adversely affected by a violation of such Act or rule.

New Fed Mortgage, a freddie mac seller servicer, will be looking to create more lending opportunities in Virginia along with other states in the Mid-Atlantic region and on the East Coast. About.

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The Fed will typically tighten or decrease the money supply during inflationary periods, making it harder to borrow money. To counter a recession, the Fed uses expansionary policy to increase the money supply and reduce interest rates. With lower interest rates, it’s cheaper to borrow money, and banks are more willing to lend it.