| Inside Mortgage Finance

First-Lien Holdings at Banks Continue to Rise in 4Q

Holdings of first-lien mortgages at commercial banks and savings institutions increased just 0.3% from the end of the third quarter to the fourth. All of the increase was driven by a 14.6% jump in holding of adjustable-rate mortgages. (Includes data table.) Read More

Despite Volatility, Crypto Lending Sees Strong Demand

Though the value of bitcoin has dropped sharply in recent months, mortgage lenders allowing borrowers to use the crypto holding to qualify for home purchases are bullish on the product. Read More

Redwood Markets Inaugural Aspire Securitization

The $391.3 million non-qualified mortgage securitization received preliminary AAA ratings from three firms. The REIT had been selling the production primarily as whole loans until now. Read More

Non-Agency Servicing Needs Collaboration, Robust Data

Speakers at the Mortgage Bankers Association’s servicing solutions conference discussed what makes a good non-agency servicer. Read More

Select Portfolio Loses Some Servicing Market Share in 4Q

Select Portfolio Servicing and Newrez/Shellpoint, the top two servicers of non-agency MBS issued during the fourth quarter of 2025, handled nearly 50% of the market. But both lost market share. (Includes data table.) Read More

MFA Financial’s Income Increases; BPL Lender Expands

MFA Financial posted an increase in income in the fourth quarter of 2025. The firm’s BPL lender Lima One launched a wholesale channel and plans to relaunch multifamily lending in early 2026. Read More

Angel Oak REIT Leans into HELOCs; Income Steady in 4Q

Though Angel Oak Mortgage REIT’s main focus is non-qualified mortgages, the REIT plans to regularly participate in securitizing home equity lines of credit. Read More

News Briefs

Non-QM impairment rate rises in January; LenderMAC acquires Direct Mortgage. Read More

Inside Nonconforming Markets

February 27, 2026

View Archived Issues

First-Lien Holdings at Banks Continue to Rise in 4Q

Despite Volatility, Crypto Lending Sees Strong Demand

Redwood Markets Inaugural Aspire Securitization

Non-Agency Servicing Needs Collaboration, Robust Data

Select Portfolio Loses Some Servicing Market Share in 4Q

MFA Financial’s Income Increases; BPL Lender Expands

Angel Oak REIT Leans into HELOCs; Income Steady in 4Q

News Briefs

Latest Imf News

Banks Boost ARM Holdings

Average Interest Rate Drops Below 6%

HUD Staffing Levels Continue Declining

Homeowners With Rates Under 3% Reach Five Year Low

Featured Data

Ginnie Mae Issuance Rebounds in January; USDA Loans Spike

Prime Non-Agency MBS Issuance Up Nearly 40% in 2025

M&A Reshapes Conventional Mortgage Market

Refinances Lift Primary MI to a Strong Finish in 2025

Featured Reports

Agency Channel Analysis: 3Q25 (PDF)

Mortgage Profitability Report 3Q25 (PDF)

Mortgage Servicing Rights Report: 3Q25 (PDF)

IMF Mortgage Directory: Full interactive database

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

Inside Nonconforming Markets

February 27, 2026

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?