After incurring a huge loss in 2024, Pagaya Technologies booked an $81.4 million profit in 2025.

Redwood Trust posted a net income of $20.0 million in the fourth quarter of 2025.

Some lenders are trying to acquire trigger leads ahead of the March ban.

Delinquencies on commercial mortgage-backed securities are up to 8.75% if adjusted for loans that are current on payments but past maturity.

Pennymac Financial Services sped up its adoption of Vesta Innovations’ loan origination system to drive more recaptures.

In March, “trigger leads” will come to an end, prompting lenders to come up with new solutions for lead generation.

The HEI securitization market is expected to continue growing in 2026, helped by growing borrower awareness and investor appetite.

The commercial MBS delinquency rate climbed in December. Record CMBS issuance as well as a fading maturity wall are expected in 2026.

Industry members in the nonconforming loan space encouraged lenders to be wary of the risks involved in debt service coverage ratio mortgages and residential transition loans. At a recent conference hosted by Information Management Network, they urged attendees to keep an eye on certain key details in the transactions.

The lender’s optimism stems from its origination capabilities and its recent acquisitions of Redfin and Mr. Cooper Group.