Secondary

But Fannie Mae and Freddie Mac conducted no private-market sales of nonperforming loans early last year as adjustments were made to the program.

A day after the regional bank's stock tumbled on tough fourth-quarter results and some austerity moves, observers debated whether management just needs time to build enough capital to catch up with growth or if it is still too overexposed in multifamily lending.

Chairman and CEO of Pennymac, David Spector, said the one-time cost will allow the company to retain ownership of a proprietary system that could build value for investors.

Some large Fannie Mae and Freddie Mac portfolios have gone to market recently and an unusual Ginnie Mae multifamily and healthcare package is up for sale too.

The parent company of Flagstar Bank surprised investors by slashing its dividend, charging off two large real-estate loans and preparing for more trouble in the office and multifamily sectors.

The company's building unit saw income slow, but the mortgage banking division number accelerated on both a quarterly and annual basis.

The net proceeds will be used to pay down borrowings on a credit line secured by its mortgage servicing portfolio.

Two Harbors, which also reported a gain in comprehensive income, recently completed an acquisition that made it the eighth largest conventional servicer.

In the wake of the Surfside condo collapse, Freddie Mac and Fannie Mae instituted stricter rules regarding the soundness of this crucial form of housing stock as it ages. In response to complaints about a lack of clarity on buildings deemed unfit for financing, the GSE unveiled plans to improve transparency for both homeowners associations and lenders. 

Cullen/Frost in Texas, BankUnited in Florida and Bank OZK in Arkansas are among the banks that have, at least for now, allayed investors' fears about their exposure to the CRE sector.