Finance

Federal Reserve officials held interest rates near zero while signaling they expect two increases by the end of 2023, pulling forward the date of liftoff and projecting a faster-than-anticipated pace of tightening as the economy recovers.

A $28.8 billion rise in multifamily debt made up 65% of the $44.6 billion quarter-to-quarter gain, the Mortgage Bankers Association reported.

The move makes it easier for borrowers who don’t have standard W-2 incomes and those that do to get loans from the same outlets, and reflects broader trends.

The guidance addresses confusion related to how lenders should handle situations in which borrowers have not paid for a year and need additional help due to a natural disaster.

There are plans to incorporate the code into the Encompass eClose product, which will allow for secure storage of digital mortgages and notes.

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

The $1 billion mortgage securitization is smaller than several recent deals, and features modified mortgages. But subordination supports senior notes.

The transaction, FSMT 2021-4, is one of the trust’s largest deals in the last several years. Half of the mortgages are on properties located in California.

The alternative minimum tax would challenge at least one influential nonbank and big depositories, according to a new Keefe, Bruyette & Woods report.

Net production income was down from its peak in the third quarter of last year, but it set a survey record for the period between January and March.