As a group, the five largest firms in terms of owned servicing lost market share during the first quarter of 2026. Much of the decline was due to Rocket Mortgage, the largest servicer in the industry. (Includes three data tables.)

As delinquencies rise, servicers will face increasing obligations for advances to MBS investors. Large servicers are expected to be able to handle the pressure while some smaller servicers could face difficulties.

Depository institutions increased their share of the agency servicing market slightly in the first quarter of 2026 as a handful of banks bought GSE MSR in the bulk market. (Includes two data tables.)

A FASB taskforce recommended that accounting practices for mortgage servicing rights should include recapture in valuations.

Two Harbors Investment faced difficulties obtaining shareholder approval for its acquisition by United Wholesale Mortgage after the latter’s stock price declined.

New guidelines would eliminate the threshold-based deduction for mortgage servicing rights and apply a 250% risk weight to the assets.

CrossCountry Mortgage has swooped in with a superior bid, prompting United Wholesale Mortgage to revise its bid for Two Harbors.

GSE servicing outstanding barely budged during 2025 while Ginnie servicing increased by 6.8% on an annual basis. In owned servicing, the only firms with major gains in 2025 were nonbanks. (Includes two data tables.)

The proposals would reduce capital requirements of banks in terms of mortgages held in portfolio and for mortgage servicing. Federal banking regulators said the goal is to help banks better compete with nonbanks.

Rocket is now the largest subservicer in the industry. Pennymac is poised to acquire Cenlar, the second-largest subservicer. (Includes data table.)