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MGIC Tops Private MI Providers in Second Quarter
August 14, 2026
MGIC had $17.75 billion in new insurance written in the second quarter, a 23.0% increase from the first quarter.
Mortgage Delinquencies Let Up in 2Q, Still Above 2025 Levels
August 14, 2026
FHA mortgages continued to show the worst performance.
Garg Seeks to Regain CEO Role at Better, Citing Shareholder Support
August 14, 2026
Better’s board responded with a statement suggesting that Garg may have violated securities laws.
GSEs Formally End Green MBS Programs
August 14, 2026
While the GSEs announced the end of the programs last week, the last single-family green MBS issuance by either GSE was in June 2025.

Government-Insured Servicing
FHA Loss-Mitigation Removals Spike in 2Q
The amount of FHA loans removed from Ginnie Mae securities for loss-mitigation purposes more than doubled from the first to the second quarter. Overall, repurchases from the Ginnie program declined slightly. (Includes two data charts.)
Issuance
Prime Non-Agency MBS Issuance Drops in 2Q
Issuance of prime non-agency mortgage-backed securities cooled off somewhat in the second quarter of 2026, but remained elevated on an annual basis. (Includes three data tables.)
Issuance
Agency MBS Issuance Sags in July as Refi Market Fades
At the end of July, the agency purchase-mortgage market was just barely ahead of the pace for the first seven months of 2025, but refinance business has doubled. (Includes two data tables.)
Servicing
Rocket, Chase Give Up Some Servicing Share in 2Q
Rocket was one of the largest sellers of agency mortgage servicing rights during the second quarter and the only nonbank to post a decline in owned servicing among the top-10 firms. Chase’s decline in owned servicing looks to be tied to portfolio runoff. (Includes three data tables.)
Complaints
Mortgage Complaints to CFPB Hold Steady in Second Quarter
Servicing and loan modification issues continued to account for the majority of complaints filed with the bureau in the second quarter of 2026, including a rise in issues involving mods. (Includes two data tables.)
Servicing
Largest Servicers Lose Ground in Second Quarter
Outstanding GSE servicing at Rocket Mortgage fell 2.1% from the first quarter, but its holdings still surpassed Chase, the second largest GSE servicer, by more than $322 billion. (Includes two data tables.)

Inside Mortgage Finance

PMIs Gain Purchase Share, Refinance Share Slips
Primary mortgage insurance activity was up 17% in the second quarter after a slow start to the year, with private insurers claiming more of the purchase market but losing share in refinances. (Includes four data tables.)
Sharp Contrast in Views on UWM Following Equity Raise
UWM President and CEO Mat Ishbia sees the equity from Oaktree as a positive. Shareholders and industry analysts aren’t convinced.
- GSEs Update PMIERs for Use of VantageScore 4.0
- Interest Rates on Mortgages Expected to Remain Elevated
More Inside Mortgage Finance

Inside MBS & ABS

Non-Agency Pushes CMBS Issuance Up Slightly in 2Q
August 13, 2026
A record $11.35 billion of industrial-property mortgages were securitized in non-agency CMBS during the second quarter. Office properties and multifamily also saw big gains, while agency multifamily MBS production faltered. (Includes two data tables.)
GSEs Announce End of Single-Family Green MBS
August 13, 2026
Many of those green loans will still be eligible for purchase by the GSEs. Social bonds appear unaffected.
Ginnie Clarifies Seasoning Policy for RPLs
August 13, 2026
Ginnie Mae has revised guidance to clarify that re-performing loans could season while on a three-month trial payment plan of a standalone partial claim.
GSE CRT Issuance Slows to a Crawl in Second Quarter
August 13, 2026
Volatility from the war with Iran prompted a slowdown in CRT issuance and wider spreads on the deals Fannie Mae and Freddie Mac issued during the second quarter of 2026. (Includes data table.)

More Inside MBS & ABS

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Inside Nonconforming Markets

Chase Non-Agency RMBS Servicing Rebounds in 2Q
August 14, 2026
JPMorgan Chase was the only servicer among the top five that handled new servicing on non-agency mortgage-backed securities to post a quarterly increase during the second quarter. (Includes data table.)
HomeXpress Boosts Profits, Increases Originations
August 14, 2026
HomeXpress Mortgage originated $1.1 billion of loans during the second quarter of 2026 and posted a profit of $8.7 million.
Genesis, Lima One Increase RTL Originations in 2Q
August 14, 2026
The residential transition loan units of Newrez and MFA Financial generated solid growth during the second quarter.
Fraud Risk Elevated for Non-QMs as Sector Expands
August 14, 2026
An industry attorney suggested safeguards warehouse lenders and non-qualified mortgage originators should take to protect themselves from fraud.

More Inside Nonconforming Markets

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Inside Mortgage Trends

Bank Mortgage Earnings Tick Up in Second Quarter
August 7, 2026
A group of 26 banks increased their mortgage earnings by 3.8% on a quarterly basis during the second quarter. Six months into the year, earnings were down 1.0% compared with the first half of 2025, with interest rates weighing on production. (Includes two data tables.)
Retail Gains Share in 2Q26 Agency Securitizations
August 7, 2026
The retail channel gained market share in second-quarter agency securitizations as purchase mortgages rose sharply. Credit quality deteriorated slightly. (Includes data table.)
ICE Sees Strong Mortgage Earnings in Second Quarter
August 7, 2026
In the second quarter of 2026, Intercontinental Exchange generated its best earnings from its mortgage technology segment since 2022. ICE is optimistic that its AI tools will drive future revenue.
Zillow Charts Expansion of Mortgage Business
August 7, 2026
Zillow Home Loans originated $2.2 billion of mortgages in the second quarter of 2026, nearly double its originations from the same quarter last year.

More Inside Mortgage Trends

Inside FHA/VA Lending

Slowing Refis Drag on Ginnie Issuance in July
Issuance of Ginnie Mae mortgage-backed securities eased in July as securitizations of refinances dropped. (Includes two data tables.)
Pennymac, Vendor Move Quickly on VA Loss-Mit
The nonbank servicer and a tech vendor separately implemented VA’s partial claim loss-mitigation option well in advance of VA’s deadline.
VA Averts Legal Foreclosure Risks From Partial Claims
The agency sought to address the legal risks servicers face when foreclosing on a home in which the VA has a partial claim interest.
FHA Continues Testing Updated Appraisal Forms
FHA is testing the Uniform Appraisal Dataset 3.6 among a select group of lenders, as Fannie Mae and Freddie Mac lenders face a mandatory implementation date.

More Inside FHA/VA Lending

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Inside Mortgage Trends
Bank Mortgage Earnings Tick Up in Second Quarter
A group of 26 banks increased their mortgage earnings by 3.8% on a quarterly basis during the second quarter. Six months into the year, earnings were down 1.0% compared with the first half of 2025, with interest rates weighing on production. (Includes two data tables.)
Inside Mortgage Finance
PMIs Gain Purchase Share, Refinance Share Slips
Primary mortgage insurance activity was up 17% in the second quarter after a slow start to the year, with private insurers claiming more of the purchase market but losing share in refinances. (Includes four data tables.)
Inside Nonconforming Markets
Chase Non-Agency RMBS Servicing Rebounds in 2Q
JPMorgan Chase was the only servicer among the top five that handled new servicing on non-agency mortgage-backed securities to post a quarterly increase during the second quarter. (Includes data table.)
Inside MBS & ABS
Non-Agency Pushes CMBS Issuance Up Slightly in 2Q
A record $11.35 billion of industrial-property mortgages were securitized in non-agency CMBS during the second quarter. Office properties and multifamily also saw big gains, while agency multifamily MBS production faltered. (Includes two data tables.)
Inside the CFPB
Vehicle Loan Complaints to CFPB Drop in Second Quarter
Consumer complaints filed with the CFPB about lending services declined across all categories except for mortgages during the second quarter of 2026. (Includes two data tables.)
Inside The GSEs
GSEs Deliver Consistent Profits; No Closer to Solvency
Combined net interest income at the GSEs has averaged $12.94 billion per quarter over the past year. And since the beginning of 2022, combined net income hasn’t dipped below $11.29 billion. (Includes data table.)
Inside FHA/VA Lending
Slowing Refis Drag on Ginnie Issuance in July
Issuance of Ginnie Mae mortgage-backed securities eased in July as securitizations of refinances dropped. (Includes two data tables.)

Inside The GSEs

GSEs Deliver Consistent Profits; No Closer to Solvency
Combined net interest income at the GSEs has averaged $12.94 billion per quarter over the past year. And since the beginning of 2022, combined net income hasn’t dipped below $11.29 billion. (Includes data table.)
Housing Sector Split on Duty-to-Serve Proposal
Industry trade groups are pushing for optimized investment tools, community bankers are warning against systemic risk and housing advocates believe the proposal will allow the GSEs to abandon the nation’s neediest populations.
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?