Earnings reports from public companies showed gains in production-related and servicing income during the fourth quarter, but the broader MBA performance study found declines on both sides of the business. (Includes data tables.)

Wholesale and retail lenders expanded their mortgage production more than correspondent aggregators in the origination boomlet that took shape during the final quarter of 2025. (Includes two data tables.)

While depository institutions and the central bank scaled back their MBS holdings during the fourth quarter, money managers, life insurance companies and the GSEs ramped up their portfolios. (Includes three data tables.)

GSE servicing outstanding barely budged during 2025 while Ginnie servicing increased by 6.8% on an annual basis. In owned servicing, the only firms with major gains in 2025 were nonbanks. (Includes two data tables.)

Issuers of Ginnie Mae securities took it easy in February, producing just $38.07 billion of MBS, off 24.6% from the previous month. Purchase mortgage and refi volumes declined at similar paces. (Includes two data tables.)

Non-agency jumbo mortgages gained market share with production up nearly 40% on an annual basis in 2025. All but one of the top 10 non-agency jumbo lenders reported year-on-year increases. (Includes data table.)

The volume of jumbo mortgages handled by 30 major servicers inched up 1.3% between the end of third quarter of 2025 and yearend. Compared with the end of 2024, servicing volume was up 2.4%. (Includes data table.)

The two largest bank ABS investors, TD Bank and Bank of America, accounted for virtually all of the industry’s fourth-quarter growth in non-mortgage ABS. (Includes two data tables.)

Most mortgage REITs took advantage of strong MBS fundamentals to increase their agency holdings in the fourth quarter. While some REITs are drawn to the surging non-QM sector, industry holdings of non-agency MBS fell last year. (Includes two data tables.)

Non-agency jumbo mortgages accounted for 15.4% of total single-family originations in 2025, compared with a 12.7% share in 2024. Meanwhile, agency high-balance activity declined somewhat. (Includes three data tables.)