Secondary

Bonds have broadly surged in November after the latest U.S. consumer price index report showed essentially no changes in overall prices from the prior month, implying the Fed might be close to getting inflation under control.

Instead of buybacks, performing loans could be subject to fees related to defect rates, with some exceptions made for small lenders that deliver a limited volume of mortgages.

The departures of David Benson and Jeffrey Hayward means decades of internal experience are leaving the company, said David Stevens.

The agency is decreasing the dollar amount for the second consecutive year, maintaining the percentage quota for mission-related loans and adding a new exemption.

The lender has shed over $1 billion in annualized expenses and said it retains enough capital to sustain operations for the next several years.

Higher expenses pushed per-loan losses further into the red for the first time in three quarters and with lower production expected through the first three months of next year, the picture remains bleak.

Policymakers are exercising restraint when it comes to the MBS portfolio for now but they'd still still like to sell, panelists at an industry conference said.

All of the loans were originated by CrossCountry Mortgage, which previously had a relationship for this product with Starwood.

Its strong balance sheet opens up opportunities for the mortgage lender to bring more companies under its helm, executives during the earnings call said.

WeWork, once valued at $47 billion, needs to slash costs and shore up its finances as it tries to continue operating.