The REIT also had a $98.8 million loss during the quarter on interest rate swap and swaption agreements, which are used for hedging.

Much of the swing was tied to a decline in the value of mortgage servicing rights.

PrimeLending took an $8.3 million pre-tax loss in the first quarter of 2025.

“We were able to navigate that by basically just doing nothing and allowing the market to sort of go through what it had to go through,” said Peter Federico, president, CEO and chief investment officer of AGNC Investment.

Sales of existing homes declined in March on a monthly basis and compared with March 2024.

CrossCountry contributed $942.1 million in loans to expanded-credit MBS issued during the first quarter of 2025.

Only three other prime non-agency MBS have hit the market this month.

Mr. Cooper Group and Angel Oak Companies are separately marketing their first securitizations of home equity loans.

Interest rates on mortgages increased by nearly 30 basis points during a two-week span.

Since he was appointed by President Trump as FHFA’s leader, Pulte has revamped board membership at the GSEs and fired Freddie’s CEO.