Overall, FHA and VA lending declined by 8.3% on a quarterly basis in the first quarter of 2026. FHA refi volume was up, helped by loans to existing FHA borrowers. (Includes three data tables.)

Lenders turned down 22.0% of applications received for FHA loans in 2025. The rejection rate on VA mortgages was a more modest 16.1%. (Includes data table.)

Bill in House would add to IRRRL fees; FHA proposes rejecting applicants with delinquent child support obligations; FHA to automate some case number assignments for condos.

Among a large group of lenders, the correspondent channel accounted for a 38.0% share of government-insured originations in 2025, up from a 34.5% share in 2024. (Includes data table.)

Endorsements of home equity conversion mortgages increased by 3.2% on an annual basis in 2025, even with four consecutive quarterly declines since the fourth quarter of 2024. (Includes three data tables.)

VA refinance activity more than doubled in the fourth quarter and FHA refi volume was up 55%. United Wholesale Mortgage was the top lender in both government loan programs. (Includes three data tables.)

Lenders grew the share of government-insured loans originated through correspondent channels in the third quarter, according to an Inside FHA/VA Lending analysis of proprietary survey data.

Younger borrowers are behind much of the growth of VA purchase mortgages, according to an analysis by Veterans United.

The expansion of government-insured lending through the retail channel in the second quarter outpaced growth in correspondent and broker channels. (Includes data table.)

Mortgage servicers have been putting in the hours to prepare for FHA’s expedited rollout of its new loss-mitigation waterfall beginning next month.