Repurchases were down nearly 20% compared with the fourth quarter of 2025. Reserves for repurchases also declined. (Includes one data table.)

The appeals court noted that California law allows employees to “make some preparations to compete” with an employer, but the law doesn’t authorize an employee to transfer their loyalty to a competing company.

The yield curve is helping to drive up demand for non-agency MBS. And rising delinquencies aren’t much of a concern for investors.

Investors aren’t tiering issuers/deals, fraud is a risk with cash-out DSCR mortgages, jumbos in expanded-credit MBS prepay faster than traditional expanded-credit mortgages and investors are getting aggressive with bids for GSE-eligible mortgages.

Originations of jumbo mortgages increased by 50% on an annual basis in the first quarter of 2026. The bulk of the volume is in non-agency jumbos, with the conforming jumbo sector also holding up. (Includes three data tables.)

MBS investors aren’t sure how VantageScore scores compare with classic FICO scores. And a variety of systems used in the mortgage market need to be updated to allow for two scoring models.

Rocket Mortgage and Cenlar remained the largest subservicers as of the end of March, though LoanCare and ServiceMac gained some ground. (Includes one data table.)

Johnson was deputy director of the CFPB during the first Trump administration.

Spring EQ is a longtime player in the home equity loan market, but the firm is rarely the sole contributor to a securitization.

The MBA's white paper, prepared by the law firm of Orrick, Herrington & Sutcliffe, addresses various questions regarding AI usage.