The ARM share of first-lien originations also declined somewhat, as interest rate trends in the first two months of the first quarter made fixed-rate mortgages somewhat more attractive than ARMs.
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.)
After a boomlet in April, Ginnie issuance declined a bit in May. Refi volume declined, while issuance involving purchase mortgages ticked up thanks to spring homebuying. (Includes two data tables.)
A group of 30 major servicers handled an estimated $1.44 trillion of jumbo mortgages at the end of March, a 1.0% increase on a quarterly basis. (Includes one data table.)
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.)
SFA and other trade groups are seeking major changes to the re-proposed bank capital requirements. MBA raised concerns that non-agency MBS would receive more favorable capital treatment than GSE 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.)
Most analysts say that higher inflation means rate cuts are off the table for Fed Chair Kevin Warsh, even though President Trump still says he still wants lower rates.
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.)
Although the growth curve flattened a bit in 2025, production of loans with terms of two years or less increased by 15% last year. (Includes one data table.)
In a joint comment letter, a dozen trade groups said the FCC’s proposed restrictions on foreign call centers are unnecessary because existing federal laws already impose “extensive” consumer protection, privacy and data security obligations on financial services providers.
Earnings were down compared with both the fourth quarter of 2025 and the first quarter of 2025. Some of the biggest banks don’t have particularly high hopes for their mortgage businesses this year. (Includes one data table.)
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.)
The upper ranks of FHA management have been thinned out by resignations over the last year, and the Senate’s on crunch time until midterms, meaning there’s a chance Ginnie Mae president Joe Gormley could be helming both agencies for a while.
Provisions designed to increase borrower awareness of the availability of home loans backed by the Department of Veterans Affairs remain in an expansive housing bill that Congress could pass as soon as next week. The MBA has expressed operational concerns.
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.)
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.)
SFA and other trade groups are seeking major changes to the re-proposed bank capital requirements. MBA raised concerns that non-agency MBS would receive more favorable capital treatment than GSE MBS.
More than two-thirds of the largest GSE sellers saw a sequential decline in deliveries in May, with refi business slowing. But overall volume for the first five months of the year was up 35.7%. (Includes two data tables.)
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.)
More than two-thirds of the largest GSE sellers saw a sequential decline in deliveries in May, with refi business slowing. But overall volume for the first five months of the year was up 35.7%. (Includes two data tables.)
A 50% cap on debt-to-income ratio within Fannie Mae’s Desktop Underwriter acts as an extra-regulatory limit on credit availability, according to researchers at the Federal Reserve Bank of St. Louis.