Economy

The justices on Wednesday threw out a key part of a challenge brought by firms including Paulson & Co., Pershing Square Capital Management and Fairholme Funds ​to the government’s collection of more than $100 billion in profits from Fannie Mae and Freddie Mac.

A majority of the justices concluded that the law establishing the Federal Housing Finance Agency violated the Constitution when it said a president may only remove the agency's chief "for cause."

The Community Home Lenders Association’s letter adds to criticism of the changes made to the GSEs’ preferred stock purchase agreement and indicates that its mandates are proving tough to meet.

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.

But the government-sponsored enterprise raised its total origination volume forecast for 2021 based on slightly stronger than expected refinance activity.

Residential starts rose 3.6% last month to a 1.57 million annualized rate, according to government data released Wednesday

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 real estate technology company had a $498 million valuation, according to PitchBook, but it could get a sizable premium to that if it were to go public.

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.

With residential supply severely lagging behind demand, redeveloping unused office space into multifamily properties seems like a perfect solution, but it’ll take governmental collaboration and tax breaks to make such projects financially compelling, developers say.