The increase in issuance occurred across several categories, including a 79.2% surge in volume tied to loans eligible for sale to the government-sponsored enterprises.

Some 29% of home purchases in December were all-cash transactions, according to Redfin.

For the full year, refis accounted for 30.1% of total first-lien mortgage originations, up from a 21.5% share in 2024.

David Spector, CEO of Pennymac Financial Services, said the firm’s correspondent aggregation platform is facing increasing competition from the GSEs’ cash window.

Onity posted net income of $127.0 million in the fourth quarter, compared with a $21.0 million profit the previous quarter.

No customers of TransUnion have shifted to the direct license program FICO launched in October.

The correspondent channel lost 194 basis points of market share in the agency MBS market in the fourth quarter of 2025.

A $2.29 billion reversal in net interest gains and a $1.29 billion provision for losses dampened net income in 2025.

The House approved legislation this week aimed at increasing housing supply. Before the vote, President Trump called for an additional provision that wasn’t included.

The refi share of GSE business saw its first monthly decline since July, slipping from 37.9% in December to 37.4% in January.