Originations of residential transition loans saw little growth at the start of this year, while debt service coverage ratio loan volume increased.

The business-purpose lender’s origination volume was down 14.1% on a quarterly basis in the fourth quarter, though income increased by 37.1%.

With originations of shared equity products increasing, additional regulations and transparency are needed to protect homeowners, according to analysts at the Urban Institute.

Radian plans to close non-agency conduit; Pennymac launches non-qualified mortgage suite in wholesale channel; Logan Finance offers new jumbo non-QM program; Beeline partners on tokenization.

Holdings of first-lien mortgages at commercial banks and savings institutions increased just 0.3% from the end of the third quarter to the fourth. All of the increase was driven by a 14.6% jump in holding of adjustable-rate mortgages. (Includes data table.)

Though the value of bitcoin has dropped sharply in recent months, mortgage lenders allowing borrowers to use the crypto holding to qualify for home purchases are bullish on the product.

The $391.3 million non-qualified mortgage securitization received preliminary AAA ratings from three firms. The REIT had been selling the production primarily as whole loans until now.

Speakers at the Mortgage Bankers Association’s servicing solutions conference discussed what makes a good non-agency servicer.

Select Portfolio Servicing and Newrez/Shellpoint, the top two servicers of non-agency MBS issued during the fourth quarter of 2025, handled nearly 50% of the market. But both lost market share. (Includes data table.)

MFA Financial posted an increase in income in the fourth quarter of 2025. The firm’s BPL lender Lima One launched a wholesale channel and plans to relaunch multifamily lending in early 2026.