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Forecasting that it will not turn a profit in the 2022 fiscal year, the company plans to make job cuts, suspend dividends and introduce new products.

Roughly 24,000 people had new foreclosures listed on their credit reports in the first quarter, up from about 9,000 three months earlier, a Federal Reserve Bank of New York report says. States are trying to cushion the blow on homeowners now that many pandemic-related federal protections have ended.

Embattled online mortgage lender Better is turning to a former Goldman Sachs Group Inc. consumer-banking veteran to help it pursue a public listing just as rising interest rates pressure the business already reeling from a slew of personnel missteps.

In its semiannual supervision and regulation report, the central bank cited strong balance sheets and liquidity but found risks for smaller banks.

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.

The moves were widely anticipated, with the markets already pricing them in, as the central bank attempts to get the upper hand on record-setting inflation.

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.

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.

But the recent spike has contributed to a noticeable downturn in purchase demand, according to Freddie Mac.