Ongoing declines to interest rates boosted refinance originations in the fourth quarter of 2025 while purchase-mortgage lending looks to have fallen as part of a seasonal trend.

The addition of Mr. Cooper Group’s portfolio in October more than doubled Rocket’s outstanding GSE servicing as the end of December, to $952.02 billion.

Outside of Rocket Companies, CrossCountry Mortgage was the most active MSR buyer in the fourth quarter of 2025.

Some 6,836 mortgage-related complaints were filed with the bureau between October and December, up 9.7% from the third quarter of 2025.

GSE purchase-mortgage business with private MI declined at about half the rate of the decline seen in FHA purchase-mortgage business in the fourth quarter of 2025.

Conforming jumbo business at the GSEs fell 14.4% on an annual basis to $31.85 billion in 2025.

VA refi issuance was the highest since the fourth quarter of 2021.

The biggest gain was in the expanded-credit mortgage sector, where new issuance jumped 74.5% from 2024 to $78.24 billion last year.

The last time a single company held more than $1.0 trillion of agency servicing was 2019, near the end of the reign of Wells Fargo atop the servicing market.

Volume with primary MI was up sharply in the fourth quarter of 2025 at both the government-sponsored enterprises and the Department of Veterans Affairs, while FHA volume lagged to some extent.