Newfi is an affiliate of asset management firm Apollo.

McCargo joined the FHLBank in June.

“We control an overnight rate,” the Federal Reserve chair noted.

For the year, Annaly had $1.01 billion of net income after taking a $1.64 billion loss in 2023.

Gains on servicing and interest rate swaps helped Two Harbors return to profitability.

ABS issuance tied to business financing grew by 52.9% from 2023 to $105.33 billion.

White House Press Secretary Karoline Leavitt said an executive order aimed at reducing federal spending remained in effect.

Late on Jan. 27, the Trump administration ordered a pause for federal loan and grant activity, but the vague wording of the order prompted uncertainty for the mortgage market.

Non-core products are areas of the market in which non-agency financing is seen as being able to compete with Fannie Mae and Freddie Mac.

FHFA directors have typically been technocrats with backgrounds in housing finance or federal regulation.