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Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

The legislation, awaiting the governor’s signature, overturns a state court ruling that made it easier for lenders to restart the six-year statute of limitations timeline.

But the deal could be derailed by antitrust concerns given the size of both companies in the mortgage technology field.

The Federal Reserve’s Federal Open Market Committee voted Wednesday to raise interest rates to between 0.75% and 1%, the largest single rate hike since 2000.

The Federal Reserve delivered the biggest hike in interest rates since 2000 and announced it would start shrinking its massive balance sheet next month, deploying the most aggressive tightening of monetary policy in decades to combat soaring inflation.

The government-sponsored enterprise on Tuesday priced its fifth Connecticut Avenue Securities transaction this year, making further progress in supporting the market it left during the Trump era.

Purchase numbers came in higher for both conventional and government activity, while the average loan amount shows signs of easing.

Stocks wavered while bonds fell as investors braced for the biggest Federal Reserve hike since 2000 and awaited more clues on how aggressively the central bank will tackle inflation.

However, originators selling loans to Fannie Mae and Freddie Mac will have almost 10 months before the Supplemental Consumer Information is required.

While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”