The biggest bulk transfer in 3Q25: Lakeview Loan Servicing’s purchase of $28.56 billion of MSR from UWM...

Residential mortgage originations declined by 2.0% on a quarterly basis in the third quarter of 2025.

Total outstanding balance of single-family mortgages in Ginnie Mae mortgage-backed securities increased by 2.2% from the end of June to $2.65 trillion as of the end of September.

While issuance is booming, some firms pulled back during the third quarter.

Five of the top 10 servicers of FHA loans had an above-industry average share of loans 30-90 days past due in 3Q25.

The risk of growing budget deficits and elevated inflation expectations will keep longer term rates from falling further, MBA believes.

The amount of agency servicing with coupons over 6.0% increased by 10.2% during the third quarter.

Underwriting for purchase mortgages remained strong while standards for refis loosened somewhat among deliveries to the GSEs in the third quarter.

Market share of GSE business from large nonbanks fell from 56.1% for deliveries in the second quarter of 2025 to 53.8% in the third quarter.

Loans without mortgage insurance gained some share in the agency MBS market during the third quarter.