The loss largely looks to be tied to losses on derivatives, which amounted to $2.30 billion in the fourth quarter.

Issuance in 2022 was helped by lingering loans from the refinance wave while mortgage originations were down sharply in 2023.

The price of preferred shares in Fannie Mae shot up to $4.57 a share in the wake of former President Trump’s victory in the Iowa caucuses.

NewRez said AI can analyze customer data and preferences to recommend suitable products.

Prime non-agency MBS issuance increased by 4.3% on a sequential basis in the fourth quarter though for the full year volume was down 64.1%.

One positive: Financing for retail properties and hotels actually saw gains in the fourth quarter.

“There’s a big gap between what people are currently paying for insurance and probably what needs to be collected to cover damages,” said Dave Burt, CEO of DeltaTerra Capital.

The impairment rate on securitized non-QMs increased by more than 100 basis points between August and December.

FHA’s share of the primary mortgage insurance purchase business grew from 25.7% in 2022 to 32.1%.

Demand for purchase mortgages declined last week even as interest rates stayed level.