The nonconforming market continued to gain share during the fourth quarter. In all of 2025, the nonconforming sector accounted for 20.9% of first-lien originations, up from a 16.6% share in 2024. (Includes two data tables.)

The nonbank generated $164.5 million of net income in the fourth quarter of 2025. But in a departure from norm, Mat Ishbia, president and CEO of UWM, didn’t take questions from stock analysts.

Bank and mortgage industry groups are calling for broad reforms to bank capital requirements. Meanwhile, reactions to pending proposals from the Fed tied to bank mortgage holdings and MSRs were mixed.

No new housing initiatives from President Trump; mortgage applications steady; home prices increase modestly in 2025; Democrats in Senate introduce bill aimed at limiting SFR institutional investors.

Banks had $2.82 trillion of servicing for others at the end of 2025, down 0.6% from the end of September.

United Wholesale Mortgage’s share price declined by nearly 9% Wednesday.

Incentives offered by Hovnanian Enterprises for home purchases appear to be levelling off.

Ryan Dempster, president and CEO of Willamette Valley Bank, cited competition and elevated interest rates as factors that drove the bank away from mortgage lending.

The total delinquency rate declined by 3 basis points on a monthly basis to 3.65% as of the end of January, according to Intercontinental Exchange.

According to Inside Mortgage Finance’s Large Servicer Delinquency Index, the overall delinquency rate increased by 46.6 basis points from the end of September, hitting 3.29% at the end of 2025.