The Senate is poised to vote on legislation aimed at addressing housing affordability.

Home equity investment deals propped up issuance of home equity loan securitizations in the fourth quarter. For the full year, HEL securitizations nearly doubled from 2024 levels. (Includes three data tables.)

As bank issuance of CRT deals increase, additional regulations and disclosure requirements are under consideration.

Ledn issues ABS backed by Bitcoin loans; fire at SFVegas prompts shift in exhibit hall; banks seek enhanced capital relief for CRTs; Fitch launches group for private ratings; Upstart sells auto loans to Bayview.

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.