During the fourth quarter of 2025, issuance of expanded-credit mortgage-backed securities declined on a quarterly basis for the first time in two years.
Ongoing declines to interest rates boosted refinance originations in the fourth quarter of 2025 while purchase-mortgage lending looks to have fallen as part of a seasonal trend.
The addition of Mr. Cooper Group’s portfolio in October more than doubled Rocket’s outstanding GSE servicing as the end of December, to $952.02 billion.