David Finkelstein, CEO and co-chief investment officer of Annaly Capital Management, said the agency MBS market is “healing well” following volatility in 2022 and 2023.

Newfi is an affiliate of asset management firm Apollo.

McCargo joined the FHLBank in June.

“We control an overnight rate,” the Federal Reserve chair noted.

For the year, Annaly had $1.01 billion of net income after taking a $1.64 billion loss in 2023.

Gains on servicing and interest rate swaps helped Two Harbors return to profitability.

ABS issuance tied to business financing grew by 52.9% from 2023 to $105.33 billion.

White House Press Secretary Karoline Leavitt said an executive order aimed at reducing federal spending remained in effect.

Late on Jan. 27, the Trump administration ordered a pause for federal loan and grant activity, but the vague wording of the order prompted uncertainty for the mortgage market.

Non-core products are areas of the market in which non-agency financing is seen as being able to compete with Fannie Mae and Freddie Mac.