The futures/rate swaps were used to hedge interest rate risk on mortgages. Basically, if the interest rates on the company's debts went up the value of the futures would also go up thus offsetting the higher cost. Basically a way of swapping a variable rate for a fixed rate.
The problem is that swaps are done with treasuries and in the current environment there's a complete disconnect between treasury yields and other debt. Company confirmed that they are now paying up for fixed rate loans and will exit the swap market.