The decline included a reduction in holdings of adjustable-rate mortgages.

“There’s a tremendous economic incentive to adopt VantageScore, it’s just gonna take some time to work it through,” said Chris Cartwright, CEO of TransUnion.

Closed-end second securitization was up on a quarterly basis while activity involving home equity lines of credit declined.

In late February, just before interest rates started rising, the refi share of applications was close to 60%.

It will be the third issuance of its type from Goldman this year, following two similar deals in 2025.

The re-proposal would improve banks’ return on capital, said John Sim, a managing director at JPMorgan Chase.

Homesellers are refusing to offer steep discounts.

Overall, refinance business was down compared with the fourth quarter of 2025, though FHA refi volume increased by 6.1% due to FHA-to-FHA refi activity.

Delinquency rates on mortgages with debt-to-income ratios above 43% are only slightly higher than delinquency rates on mortgages overall, according to a new analysis by Moody’s Ratings.

“Get comfortable with reading the guidelines and understand what you want to be,” said Audrie Gregory, vice president of correspondent lending at Verus Mortgage Capital, a non-agency conduit.