Wholesale-brokers and correspondent aggregators increased their market share in all three major product categories. Retail continued to lead conventional-conforming lending. (Includes two data tables.)

The dollar volume of mortgage repurchases by banks declined by 5.4% on a sequential basis during the third quarter. Western Alliance Bank led in loan removals for the second straight quarter. (Includes data table.)

The delinquency rate on loans in Ginnie Mae MBS increased at a much faster pace than that on loans in GSE MBS, with the total delinquency rate for FHA mortgages hitting 10.90% at the end of September.

Deliveries of high-risk purchase loans to the GSEs saw minor increases in the third quarter. But lenders expanded the credit for such loans in the refi sector. (Includes two data tables.)

The flow of purchase mortgages with some form of mortgage insurance in agency MBS increased in the third quarter of 2025, while refinance business saw a sharp downturn. (Includes two data tables.)

Retail originations of mortgages by banks and thrifts sharply increased in the second quarter. The industry also reported a more modest increase in secondary-market mortgage sales. (Includes two data tables.)

The volume of adjustable-rate mortgages flowing into agency mortgage-backed securities jumped in the second quarter of 2025 and has remained elevated. Large nonbank lenders are driving the increase. (Includes data table.)

Repurchases and indemnifications increased by more than 30% on a sequential basis during the second quarter. Through the first six months of the year, buyback activity was essentially level compared with the first half of 2024. (Includes data table.)

The use of positive rental payment data and cash flow underwriting in new credit score models is expected to increase the number of borrowers that qualify for mortgages.

Declining equity and surging escrow payments may be a precursor to market stress in some parts of the country, analysts say.