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.

In all of 2025, refis accounted for 30.1% of originations.

Rate sent $18.58 billion of mortgages to unaffiliated buyers in 2025, according to an Inside Mortgage Trends analysis of HMDA data.

The GSEs issued CRT deals in March even with economic volatility tied to the war with Iran.

Lenders turned down 23.38% of refinance applications based on credit history last year compared to 29.88% in 2024.

Arch Mortgage Insurance sprinted to the lead among private MIs with $14.81 billion in NIW for the first quarter. The company was the only PMI to increase production from the previous three-month period.

Pools of loans secured by property in Florida were the most popular “story” in the first quarter.

UWM’s correspondent sales of jumbo mortgages totaled $6.91 billion, down 8.6% from 2024.

April issuance was the highest monthly total since June 2022, when the market was coming down from the euphoria of the COVID-19 rally.

Rocket and Pennymac reduced their portfolios during the first quarter.