Production, largely through the AmeriHome Mortgage correspondent unit, declined by 1.5% from the third quarter.

Much of the decline in income was tied to the fair value of investment securities as interest rates on mortgages increased during the quarter and spreads widened somewhat.

“It was an ‘AcquiHire’ type scenario,” said Rick Roque, an industry consultant who also holds the title of head of growth at NFM Lending.

Scott Bessent's nomination for secretary of the Treasury Department was approved on a 68-29 vote.

The trade group asks that compliance deadlines for the bureau's nonbank registry rule be postponed for at least 60 days.

Deliveries to Fannie Mae and Freddie Mac of mortgages with private MI more than quadrupled from the third quarter, hitting $6.58 billion in the fourth quarter.

Sen. Elizabeth Warren, D-MA, the ranking member of the committee, said she was prepared to vote in favor of Turner’s nomination but first wanted to see results from a pending background check on the nominee by the Federal Bureau of Investigation.

Some non-agency MBS issuers are excluding Maryland loans from transactions due to the new regulation.

The administration hasn’t come up with a business plan to replace the current system.

The brunt of insurance burdens tied to natural disasters fall on property insurance providers, though private MIs could see an uptick in delinquencies.