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

Legislation to limit trigger leads was introduced in the House with bipartisan support.

NYCB recently took unexpected losses on its commercial lending and passed an asset threshold that prompts increased scrutiny by federal regulators.

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

The DOJ alleged that First National Bank of Pennsylvania continued a practice seen at Yadkin Bank of focusing mortgage lending disproportionately on white areas of Charlotte and Winston-Salem.

The National Community Reinvestment Coalition accused banks of hypocrisy for filing a lawsuit against new standards under the Community Reinvestment Act.

Ginnie MBS issuance held steady in January compared with the previous month. Refinance volume ticked up and volume involving modified loans was down. FHA loans accounted for 62.9% of issuance. (Includes two data tables.)

On a pre-tax basis, PennyMac’s production segment generated $39.4 million in income in the fourth quarter, up 56.3% from the previous quarter.

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

Fed stays course on MBS sales; SFA close to revising data tape for prime non-agency MBS; MBS on watch for rating upgrades by Fitch; subprime auto ABS impairments rise; commercial MBS delinquencies decline; Fannie sees tighter spreads for latest CRT; Morningstar not ready to give positive commercial MBS credit for “mass timber” construction.