The second-lien loans face low recovery post-default, especially if home prices drop.

Fitch describes the Goldman-arranged CLO as similar to Blackstone's Lewey Park CLO, which closed last month.

But the Federal Housing Administration program was the only mortgage loan type to gain market share month-to-month as measured by rate lock percentage.

More than 90% of the loans were underwritten without full documentation, raising default probability.

The company's closure comes in a year when it touted successful capital investments but also faced growing legal scrutiny.

Top retail-mall owner Taubman has approached the market with a $1 billion CMBS deal to refinance the existing debt that is collateralized by one of the highest volume shopping centers in the U.S.

The share of underwater mortgages also grew for the first time in almost two years during the third quarter, Corelogic found.

The Financial Stability Oversight Council's annual report underscores mounting challenges in commercial real estate, escalating cyber threats, and regulatory gaps in third-party services and stablecoins, urging stronger oversight and legislative action.

Valverde, who has a wide range of experience in capital markets and housing finance, will join the government-sponsored enterprise's single-family unit.

The average cost for a loan seller to buy back a mortgage from Fannie Mae or Freddie Mac for defects is over $32,000, a study from Reggora and Stratmor found.

Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.

Rocket argues it was unfairly tied to discrimination accusations, arguing the government aimed for "headline-grabbing claims" to bolster its case.