Life insurance companies reported a higher return on their private commercial mortgage investments in the first quarter, compared to the fourth quarter, according to a new report.
The mortgage investments
The rolling four-quarter return in the first quarter fell to 6.9%, from 7.16% in the fourth quarter.
Life insurance companies that participate in the LifeComps study include Allstate, CIGNA, AXA Equitable, John Hancock, Northwestern Mutual, Principal Financial, Prudential and TIAA-CREF.
The Federal Housing Administration removed housing finance firms from the list of permitted interested-party contributors in a new reverse-mortgage rule.
The company's attorneys had previously managed to successfully decertify the class in the seven-year long case, but the decision was reversed last year.
Banks and other financial market participants have been keyed into the central bank's communications around monetary policy expectations. But in an unpredictable economy, the guidance doesn't always hit the mark.
UWM's leader Mat Ishbia saw his total compensation balloon to over $12 million compared to 2022, while Rocket's CEO received $3.4 million during the first four months of his tenure.
The Federal Housing Finance Agency rule originally proposed last year aims to make it tougher to roll back measures designed to encourage more equitable lending.
The top five producers had an average dollar volume of more than $99 million in jumbo production.
