Secondary

The private mortgage insurers reported just 5% less business versus the third quarter and 33% more new insurance written over the fourth quarter 2023.

The enterprise failed to improve on its net income but did report a steady profit, and got closer to meeting minimum risk-based regulatory capital requirements.

If the government were to end the Fannie Mae and Freddie Mac conservatorships, the new status could constrain CRT deal ratings, as they are counterparties.

North American banks face heightened anti-money laundering scrutiny and a few related variables will determine whether or not this leads to more mortgage sales.

But the company took a credit loss provision in the fourth quarter, deciding to add to its reserves because of new mortgage acquisitions to its portfolio.

A series of moves aimed at deleveraging its balance sheet led to the loss, but the bottom line improved markedly over 2023.

Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose problems.

The company more than doubled results over comparable periods and exceeded estimates due to stronger economies of scale and valuation adjustments in its favor.

The MBA disclosed the year-end rankings of income-producing mortgage servicers at its yearly conference for this part of the industry.

Experts said the government-sponsored enterprises could change their tack on some of the innovation seen since the pandemic in loss mitigation, lending and technology.