Secondary markets

The primary cause is agency put-backs and fixing the problems is difficult in a rising rate environment.

The company shifted $189 billion of agency mortgage-backed securities to held-to-maturity on its balance sheet, shielding its shareholder equity from unrealized losses.

For many, rates could be higher, but borrowers with lower down payments and credit scores could get new government-sponsored enterprise discounts competitive with the FHA's lower premium.

The migration of new financing for large Ginnie Mae issuers, from Credit Suisse to other firms, is a crucially important development for the mortgage market .

The bank's broader challenges, which include a run on deposits and difficulty selling loans without realizing losses, could affect the rating agency's assessment of its servicing.

The agency, which oversees government-related investors that set underwriting parameters in the U.S. mortgage market, estimates the process will begin in 2024.

Excess returns on the bonds, which compares mortgage backed security performance to Treasuries, are -0.94% for March, on track for the worst relative performance since September.

The government-sponsored enterprise took the next step towards allowing lenders to implement its property valuation modernization plans.

The government-backed acquisition heads off regulatory and financial concerns at a Swiss bank that could have affected overseas financial institutions that U.S. lenders count on.

Imbalances linked to affordability and interest rate volatility are challenging the mortgage market. Here's how they may be resolved.