Matt Jones, FHA single-family housing deputy assistant secretary, indicated the agency believed the rescissions would make the FHA program more accessible to a wide range of lenders.

Mutual of Omaha Mortgage and Finance of America Mortgage, the top two lenders in the sector, lost some market share in the first quarter.

Ginnie Mae’s share of total residential servicing outstanding increased to 18.5% as of the end of March.

Loans with balances above the baseline conforming loan limit accounted for 16.4% of total originations in the first quarter of 2026.

The decline in issuance was driven by refinances, with refi volume off 16.8% on a monthly basis.

The agencies securitized $30.31 billion of rate-term refis in May, a 32.6% decline from April.

FHA published a request for information seeking ways to ease its minimum property requirements.

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.

FHA noted that federal law prohibits providing federal financial assistance to individuals with delinquent child support.