Priscilla, good you, Thank and morning.
to in compared Priscilla increase of fourth billion the year. $XXX quarter, $X.X As million first we last a income mentioned, in the quarter net reported
million single-family Our by a in release credit reserves to We $X million increase of for first $XXX guarantee by prior driven as recorded we a prices, for quarter. in provision a in losses offset net strong interest home reserves saw was benefit to to fees. multifamily. forecasted thanks due the quarter billion increases an this This partially revenues quarter healthy opposed of remained with $XXX income, of
actual in $XXX is values Increases interest the to the rates losses forecast. increase recognized fair interest rates primarily property well to prior around value to in increases multifamily compared drove as declining quarter. gains actual $XXX previous in in and in million fair company's compared due and approximately projected as projected million The value near-term
acquired volume business, of $XX the fourth to last lowest XXXX. in in $XX This single-family quarter quarterly quarter we billion compared loan the third quarter the our we billion since this seen In is have year. of acquisition
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transactions, the time transactions. credit billion $XX on of these of balance principal we portion a With the of risk transferred the at approximately unpaid
transfer single-family the premiums million transactions. paid in our We $XXX risk during outstanding quarter on credit
year multifamily $XX quarter. and in $XX the quarter billion this This quarterly loans approximately acquisition quarter We have XXXX. seen to compared to is to business. we similar multifamily acquired of first approximately quarter was our the Turning billion of volume lowest since last the last fourth
weighted a average coverage and of ratio debt a average had weighted of book loan-to-value ratio Xx. XX% original multifamily Our service
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of to December XX decreased from rate slightly multifamily March basis delinquency XXXX. Our XX, serious XXXX, XX, as points of basis as points XX
In transferred the completed in transactions. billion first risk balance a the credit CIRT time portion of primary to credit of one on our quarter DUS, This $XX.X risk-sharing model our the unpaid the multifamily through addition program. multifamily we of risk principal multifamily at transfer
There outlook. I'll the related our rates. touch of steps Reserve's significant amount uncertainty on Federal to Lastly, interest is a current on next economic
currently our cuts year, While rate XXXX. persistence economists from poses the the and further inflation cuts of X possibility later Fed X in expect this
will Home persist for up likely lock-in year. X.X% this our to We inventory quarter's of home prices X.X be will and last low points XXXX, and in percentage available prices rise the projections. challenges, affordability believe is a current from forecast sale effect strong, homes continue that
$X.X given year. XX% the market We originations from trillion XXXX approximately and $X.X to the Purchases in environment, grow of XXXX. in this are dominate estimate expect trillion to up single-family rate mortgage they mortgage over originations to continue make we to likely will single-family
additional in to XXXX be $XXX $XXX remain the $XXX rates, interest supply declines sales the billion values are new estimated and between property volume $XXX XXXX. term, an near multifamily billion multifamily up with down continued will could from rates for XXXX, from billion origination elevated that We believe but short billion in higher-than-average which result high vacancy estimated multifamily subdued in in term. in over activity completions market volumes to
Over the stemming valuations longer market ongoing multifamily expect improvements from housing trends we fundamentals, positive growth. sales in will improve demographic job due however, to term, and and expected
historical a debt. We with of to X.X% XXXX the in of dealing in levels to below higher result many completions remain construction averages X% growth expect consumer new rent as range elevated and renters
today. actual supplement based so and into that fanniemae.com additional invite I business. you where insights assumptions with expectations expectations. materially find filing Thank a could to many today's for our our Our you us joining financial results current on you'll differ visit much are provides from our
