“The industry forecasts are expecting a step up in Q2 but I would say that we’re just not seeing that,” said Varun Krishna, CEO of Rocket Companies.

Some large servicers are using securitizations for MSR financing while mid-size and smaller servicers stick with bilateral agreements.

As a group, the five largest firms in terms of owned servicing lost market share during the first quarter of 2026. Much of the decline was due to Rocket Mortgage, the largest servicer in the industry. (Includes three data tables.)

FICO and VantageScore disagree on how lenders in a GSE pilot are using VantageScore. FICO’s CEO claims there are LTV ratio limitations and a haircut with VantageScore. VantageScore said that’s not the case.

High interest rates are prompting some lenders to reduce their guidance for returns on equity this year. Meanwhile, margins are holding firm at some big lenders.

Mat Ishbia, president and CEO of United Wholesale Mortgage, said management at Two Harbors is “maybe playing some games” in opting to be acquired by CrossCountry Mortgage rather than by UWM.

The higher loss was due to a combination of an increase in compensation and benefits and a $21.0 million hit from Better’s bank in the United Kingdom, which is now classified as a discontinued operation.

Mike Logozzo, CEO of reAlpha, said the company is putting a greater emphasis on artificial intelligence.

After avoiding questions from analysts during UWM's earnings call for the fourth quarter of 2025, Mat Ishbia spoke via a Zoom video to discuss results for the first quarter of 2026.

The improvement was largely tied to changes in the value of mortgage servicing rights.