Three of the top-five GSE issuers posted declines in volume last month. Meanwhile, Fannie’s share of total residential MBS issuance fell to a decade-plus low of 24.0% in the fourth quarter of 2025. (Includes two data tables.)

An economist finds that, when community banks gain access to FHLB advances, competition in local markets increases significantly, with mortgage rates in the market falling by an average of 8 bps.

In its S-1 filing, Quicken (not surprisingly) said it’s powerless to modify the rules that govern its relationship with the GSEs.