“Policymakers must provide the certainty necessary for the industry to transition beyond the pandemic by addressing two issues: 1) the necessary extension of the successful ‘temporary flexibilities’ into permanent solutions and 2) loss mitigation in a high-interest rate environment,” the paper said. “”It will be essential for Congress, the administration and policymakers at all levels to take the coordinated actions necessary to ensure that servicers can continue to support struggling borrowers.” --From an MBA White Paper, The Future of Loss Mitigation.

Northmarq, Minneapolis, arranged $78.3 million in multifamily construction loans in Alabama and Virginia.

Interest rates reached their highest level since November, driving down mortgage application activity, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending February 24.