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Purchase Mortgages Drive Up Ginnie Issuance in Second Quarter
July 9, 2026
The first-quarter tally was the highest quarterly issuance total for Ginnie since the fourth quarter of 2021.
Rate-Lock Volume Increases in June
July 9, 2026
Optimal Blue said the market is adapting to a higher-for-longer rate environment.
400 Capital Management Sees Promise in Bank CRT Offerings
July 9, 2026
400CM participated in a CRT issuance involving a $1.45 billion pool of mortgages originated by OceanFirst Bank.
Redwood Starts Slow With eNotes
July 9, 2026
Redwood is partnering with just one or two sellers on eNotes at the moment rather than with all of its 240 loan seller partners.

Ratings
Fitch Retains Lead in ABS Ratings, Moves Up in MBS
Fitch surged past Kroll to start 2026 as the top rating service in the non-agency MBS market. The company also extended its lead as the top ABS rating service. (Includes two data tables.)
Originations
Nonbank Tops Home Equity Lenders for First Time
Rocket Mortgage was the largest originator of home equity loans in the first quarter of 2026. The nonbank started originating closed-end second liens in recent years as refi opportunities declined. (Includes three data tables.)
Government-Insured Originations
Guild, Movement Gain HECM Market Share
Guild Mortgage Company and Movement Mortgage both saw successful first quarters in home equity conversion mortgage lending that led them to gain market share from other top HECM lenders. (Includes three data tables.)
Originations
Correspondents Up Share of Nonconforming Production
The correspondent channel accounted for 19.3% of nonconforming originations in the first quarter of 2026, up from 16.7% in the previous three-month period. (Includes two data tables.)
Issuance
Non-Agency MBS and GSEs Gain in First Quarter
Relatively strong refinance activity helped dampen growth in outstanding agency single-family MBS during the first quarter, but non-agency MBS posted its biggest increase in years. (Includes two data tables.)
Servicing
GSE Servicing Share Falling to Pre-Pandemic Levels
Ginnie Mae and whole loans have gained servicing share in recent years to the detriment of Fannie Mae and Freddie Mac. (Includes two data tables.)

Inside Mortgage Finance

Lenders Put an Emphasis on FHA, VA Loans in 2Q
With interest rates on mortgages rising, some agency business shifted to Ginnie Mae in the second quarter of 2026. Rocket surpassed UWM as the top issuer of agency MBS during the quarter. (Includes two data tables.)
Trump Admin Plans Major Reforms to Mortgage Rules
The CFPB plans to issue a servicing rule in August and is considering revisions to ATR/QM requirements. Both HUD and VA have a long list of rulemaking plans, while FHFA’s regulatory agenda is more limited.
- Industry Seeks Light-Touch Warehouse Capital Regulation
- Brokers Report Increased Demand for Non-QMs
More Inside Mortgage Finance

Inside MBS & ABS

MBS/ABS Issuance Rises in 2Q26, But Momentum Stalls
July 9, 2026
Agency single-family MBS issuance rose 11% from the first to the second quarter, and midyear production was up 28% from 2025. But the refinance business is running out of gas and purchase-mortgage volume was flat compared with the first six months of last year. (Includes three data tables.)
GSEs Release Historical FICO 10T Data
July 9, 2026
While FICO and VantageScore debate whose new credit score model performs best, industry insiders say the transition to new scoring models may take years.
GSEs End MBS Buying Spree, Portfolios Decline in May
July 9, 2026
In May, the combined retained mortgage portfolios of Fannie Mae and Freddie Mac saw their first monthly decline in more than a year.
Ginnie on Alert for Cyberattacks Internally and Industrywide
July 9, 2026
Ginnie Mae’s president said the agency is keeping an eye on its systems and those of its issuers to protect against cyberattacks.

More Inside MBS & ABS

Poll

Inside Nonconforming Markets

Non-Agency MBS Issuance Declines in Second Quarter
July 2, 2026
Issuance of non-agency mortgage-backed securities declined during the second quarter of 2026. Non-agency issuance involving GSE-eligible mortgages, though, was up slightly. (Includes data tables.)
DSCR Sector Challenged by Short-Term Delinquencies
July 2, 2026
Some debt service coverage ratio loan borrowers are deliberately going delinquent while they renovate a property to improve its long-term rental performance.
Credit Quality, Insurance Dragging Down BPL Market
July 2, 2026
A massive influx of investor demand for business-purpose loans has prompted lenders to loosen underwriting standards for the asset class.
UWM Offering Mortgages for Medical Professionals
July 2, 2026
United Wholesale Mortgage joins a growing list of lenders offering a specialized mortgage product to medical professionals.

More Inside Nonconforming Markets

Videos

Inside Mortgage Trends

Originations Decline Across All Channels in 1Q
June 26, 2026
Mortgage originations declined across the three major production channels in the first quarter of 2026. Pennymac reported a 32.8% drop in conventional-conforming volume through correspondents. (Includes two data tables.)
AI Starting to Find Footing in Non-QM Originations
June 26, 2026
Non-QM underwriting was once a hands-on process, but lenders are increasingly testing the use of AI.
Bank Mortgage Originations, Loan Sales Decline
June 26, 2026
JPMorgan Chase remained by far the most prominent seller, with $23.05 billion in volume during the first quarter. (Includes two data tables.)
Affordability Obstacles Increasing for FTHBs
June 26, 2026
Housing costs are now routinely eating up 40% of household budgets, making the path to homeownership more difficult for individuals under 35 years old.

More Inside Mortgage Trends

Inside FHA/VA Lending

Ginnie Issuance Soars in 2Q; Purchase Mortgages Strong
The securitization market for government-insured mortgages during the second quarter of 2026 was the strongest since the fourth quarter of 2021. (Includes four data tables.)
FHA Updates TPP Policies, Streamlines Approval Process
Among other changes, FHA formalized a waiver that allows borrowers to make trial payment plan payments more than 15 days before the due date without penalty.
FHA Loosens QC Standards for Appraisal Reviews
FHA has removed the requirement that lenders obtain appraisal field reviews on at least 10% of loans selected for origination and underwriting reviews.
CHLA Calls for Liquidity Backstop for Ginnie Servicers
The Community Home Lenders of America renewed its call for regulators to establish a standby liquidity facility to support Ginnie Mae servicers during periods of stress.

More Inside FHA/VA Lending

Premium Newsletter Content

Inside Mortgage Trends
Originations Decline Across All Channels in 1Q
Mortgage originations declined across the three major production channels in the first quarter of 2026. Pennymac reported a 32.8% drop in conventional-conforming volume through correspondents. (Includes two data tables.)
Inside Mortgage Finance
Lenders Put an Emphasis on FHA, VA Loans in 2Q
With interest rates on mortgages rising, some agency business shifted to Ginnie Mae in the second quarter of 2026. Rocket surpassed UWM as the top issuer of agency MBS during the quarter. (Includes two data tables.)
Inside Nonconforming Markets
Non-Agency MBS Issuance Declines in Second Quarter
Issuance of non-agency mortgage-backed securities declined during the second quarter of 2026. Non-agency issuance involving GSE-eligible mortgages, though, was up slightly. (Includes data tables.)
Inside MBS & ABS
MBS/ABS Issuance Rises in 2Q26, But Momentum Stalls
Agency single-family MBS issuance rose 11% from the first to the second quarter, and midyear production was up 28% from 2025. But the refinance business is running out of gas and purchase-mortgage volume was flat compared with the first six months of last year. (Includes three data tables.)
Inside the CFPB
Injunction on CFPB Layoffs Sent Back to District Court
The DC Circuit Court will allow a district court to decide what happens to a preliminary injunction that blocks the Trump administration from laying off staff at the CFPB.
Inside The GSEs
GSE Buybacks Slow in 1Q, Freddie’s Pipeline Up
Seller repurchases from Fannie and Freddie declined 21% in the first quarter of 2026 to the lowest level since 2020. But the pipeline of unresolved claims rose significantly. (Includes three data tables.)
Inside FHA/VA Lending
Ginnie Issuance Soars in 2Q; Purchase Mortgages Strong
The securitization market for government-insured mortgages during the second quarter of 2026 was the strongest since the fourth quarter of 2021. (Includes four data tables.)

Inside The GSEs

GSE Buybacks Slow in 1Q, Freddie’s Pipeline Up
Seller repurchases from Fannie and Freddie declined 21% in the first quarter of 2026 to the lowest level since 2020. But the pipeline of unresolved claims rose significantly. (Includes three data tables.)
FHFA Proposes Broad Revision of Duty-to-Serve Rule
Proposed changes would revamp the treatment of “Indian areas” and rural agricultural workers, along with altering the method of calculating area median income.
More Inside The GSEs

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