Nearly all publicly traded banks reported declining income from mortgage banking in the fourth quarter of 2025. But most of them saw an increase in earnings for the full year. (Includes data table.)

Correspondent lenders lost market share to wholesale-brokers in agency securitizations as refinances made a strong comeback in the fourth quarter of 2025. Credit quality improved across the board. (Includes two data tables.)

Michael Patterson, chief operating officer at Freedom Mortgage, said intelligently using data collected from borrowers is key to improving customer experience and boosting retention.