Among 19 companies that report details on their mortgage-banking operations, production and secondary marketing income was up 10.5%, while servicing saw a 45.3% increase.

Pension funds and insurance companies are among the investor types that boosted their holdings of residential MBS during the fourth quarter of 2025.

GSE buybacks in 2025 were down 12.8% from 2024 and represented the lowest annual total since 2020.

Lenders repurchased just over $2 million in defective loans from GSE mortgage-backed securities in 2025, the lowest annual total since 2020. (Includes three data tables.)

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.)

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.)

JPMorgan Chase remained the largest bank CLO investor despite a modest decline in its portfolio during the fourth quarter of 2025. (Includes data table.)

The residential MBS holdings of 17 publicly traded REITs were valued at $247.16 billion as of the end of last year, a gain of 6.9% from the end of September.

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.)