Economy

As the Federal Reserve implemented its second 0.75% rate hike in two months, the chair said the system is able to withstand any financial stability risks that rising rates might create. 

Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.

The securitization has a reserve account of 1% of the initial series note balance funded fully at closing.

Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.

While longtime non-QM companies have originated mortgages in the segment for years, new contenders have come into the market as the number of potential customers who fit into the category grows.

Americans are reminded about high gasoline prices daily, every time they drive. Another energy cost comes to their attention monthly: utility bills.

Entergy Louisiana’s system restoration property encompasses a large service territory that spans 58 parishes, serving about 1.1 million electric customers.

U.S. central bankers should move expeditiously and raise interest rates to neutral — the level which neither speeds up or slows down the economy — by the end of the year, Federal Reserve Bank of San Francisco President Mary Daly said.

The Federal Reserve’s most hawkish official cracked open the door to discussing the first 75-basis-point interest rate hike since 1994, a move economists say would be a last resort in case inflation further spirals out of control.

The Federal Reserve may need to raise interest rates “significantly” higher than it currently expects to cool an overheated U.S. economy, Goldman Sachs Chief Economist Jan Hatzius said.

The Biden administration once again extended the pause on student loan payments enacted to help borrowers during the COVID-19 pandemic, this time through the end of August.

Power supply and distribution customers are virtually identical, but the trust will not cross-collateralize the two revenue streams to service the debt.

The Mortgage Bankers Association now predicts slightly more purchases even with higher rates, but the Ukraine situation could change that.

In addition to hinting at a March rate hike, the central bank this week announced an intention to have Treasury securities make up a greater share of its holdings, which has implications for securitized home loans.

While the IMF sees the omicron variant weighing on growth in the first quarter, it expects the negative impact to fade starting in the second quarter, assuming that the global surge in infections abates.

Chryssa Halley, who has been with the company since 2006, was named CFO and Jim Holmberg was named controller.

The two companies will integrate platforms to streamline sales in the single-family, build-to-rent property market.

Robust salaries are a plus, but concentrating loans in a few well-paying fields presents different risks.

The securitization is backed by an irrevocable financing order that empowers the issuer to impose, collect and receive fixed recovery charges (FRC), from retail customers.