Mergers and acquisitions disrupt relationships between borrowers and lenders and lead to a lower occurrence of refinancing, according to new research.

Securitizations of residential property assessed clean energy transactions stopped in 2025, while commercial PACE deals surged.

Oncourse Home Solutions will securitize $1.725 million in residential home service contracts, marking its entry into the ABS market.

FHA’s annual audit revealed that the capital ratio of its Mutual Mortgage Insurance Fund remained strong in the 2025 fiscal year, prompting calls for the agency to reassess its life-of-loan premium policy.

The correspondent channel accounted for 40.1% of the survey group’s government-insured production in the third quarter, up from 37.7% in the second quarter.

Measures contained in bipartisan housing packages in both the Senate and House would attach a disclosure to the military service question on the uniform residential loan application to raise awareness of VA loans.

Lenders grew the share of government-insured loans originated through correspondent channels in the third quarter, according to an Inside FHA/VA Lending analysis of proprietary survey data.

The capital ratio of FHA’s Mutual Mortgage Insurance Fund in the 2025 fiscal year was 11.47%, unchanged from 2024.

Early effects from FHA’s revisions to its loss-mitigation practices have begun to show up in data, although it will still take time for the longer-term impacts to play out.

Proposed legislation to advertise the benefits of VA-backed loans would add costs for lenders without providing substantial benefits to borrowers, said the Mortgage Bankers Association.