RecFi was set to issue a $143.3 million ABS backed by loans for boats and recreational vehicles. The issuer indefinitely postponed the issuance amid volatility in the financial markets.

The decline in revenue was linked to both revenue from servicing and changes in the value of mortgage servicing rights.

Some 118,727 properties had foreclosure filings in the first quarter of 2026.

“The year started with hopes for housing momentum growth, but risks with respect to the Iran war, energy costs and declines for consumer confidence have slowed the market,” said Bill Owens, chairman of NAHB.

The bidding war between CrossCountry Mortgage and United Wholesale Mortgage started much earlier than previously known.

BofA, Chase and Wells all increased production by more than 40% on an annual basis in the first quarter of 2026. But demand for mortgages diminished in March amid rising interest rates.

The five largest lenders accounted for 21.5% of originations in 2025. Nonbanks produced 65.6% of all residential mortgages. (Includes two data tables.)

“Purchase activity remained subdued as potential homebuyers remained hesitant given the current economic uncertainty,” said Joel Kan, a vice president and deputy chief economist at the MBA.

BofA's originations of first mortgages increased by 42.7% on an annual basis in the first quarter of 2026.

Both JPMorgan Chase and Wells Fargo increased their mortgage originations by more than 40% on an annual basis in the first quarter of 2026.