In states with the highest volume of primary MI, purchase-mortgage activity was more weighted toward government-insured programs.

In the purchase-mortgage market, private MIs lost some share compared with the fourth quarter of 2024. Though the private MI share was up compared with the first quarter of 2024. (Includes two data tables.)

Refi business moved toward lower LTV ratios and lower credit scores in the first quarter. Characteristics for purchase mortgages held steady compared with the fourth quarter of 2024. (Includes two data tables.)

The nonbanks took negative marks on their large holdings of mortgage servicing rights as hedges didn’t fully offset a decline in interest rates on mortgages during the first quarter.

Amerant Bank launched national mortgage operations in 2021. Now, the bank is reducing its footprint, focusing on lending in Florida where its bank branches are located.

Waterstone Financial relents on defense against poaching allegations; Mr. Cooper takes loss on sale of Flagstar’s third-party originations unit; legal expenses rise at Mr. Cooper.

An estimated $355.0 billion of mortgages were originated in the first quarter of 2025, up 10.9% from the same period a year ago.

Much of the swing was tied to a decline in the value of mortgage servicing rights.

PrimeLending took an $8.3 million pre-tax loss in the first quarter of 2025.

“We were able to navigate that by basically just doing nothing and allowing the market to sort of go through what it had to go through,” said Peter Federico, president, CEO and chief investment officer of AGNC Investment.