The Federal Home Loan Mortgage Corporation says it "stands by its action" in naming a California mortgage banking firm to its "exclusionary list" even though the firm. PFG Mortgage Inc., plans a lawsuit over Freddie Mac's action.

The exclusionary list, which was publicly released last month, contains the names of a dozen companies and 32 individuals with whom Freddie Mac "will no longer do business because their past conduct demonstrates a lack of business competence or integrity."

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