Carrington Mortgage Services was the top bulk buyer of agency MSR in the first quarter of 2026, thanks to a large acquisition of Ginnie servicing from Pennymac. Bayview Asset Management was the top buyer in the coissuance market. (Includes three data tables.)

Inflation caused by the U.S.-Iran War means that mortgage rates aren’t likely to fall back below 6.0% this year, according to Mike Fratantoni, chief economist at the Mortgage Bankers Association.

The improvement in mortgage performance seen in early 2026 was weaker than in the first quarter of the prior two years. Much of the difference was due to an increase in loans 120+ days delinquent, with particular issues involving FHA mortgages. (Includes two data tables.)