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Latest News

  • Consumers Allege loanDepot Pushed Employees to Write Higher-Interest Loans

    July 18, 2025
    Consumers are suing loanDepot over allegations it used illegal compensation structures to encourage LOs to push higher interest-rate loans.
  • Agency Jumbos Ricochet in 2Q

    July 18, 2025
    Conforming-jumbo loan issuance spiked in the second quarter after a weak start to the year.
  • Republicans Target Dodd-Frank Reforms

    July 18, 2025
    Republicans are looking to loosen the Consumer Financial Protection Bureau's regulatory grip.
  • Trepidation Surrounds Uncertain Nature of Conservatorship End

    July 18, 2025
    Mortgage market stakeholders are uncertain how an end to the conservatorships of Fannie Mae and Freddie Mac would play out.
More Latest News

Latest Data

  • Top Mortgage Originators: 3M25 (PDF)

  • Top Firms in Owned Mortgage Servicing: 1Q25 (PDF)

  • Top Correspondent Producers: 3M25 (PDF)

  • Top Jumbo Correspondent Sellers: 2024 (PDF)

  • Top Primary Mortgage Servicers: 1Q25 (PDF)

  • Top Players in Bulk Agency MSR Transfers: 3M25 (PDF)

More Latest Data

Latest Reports

  • Mortgage Profitability Report 1Q25 (PDF)

  • 2025 Mortgage Market Statistical Annual

  • Agency Channel Analysis: 1Q25 (PDF)

  • IMF Mortgage Directory: Full interactive database

  • Agency Seller-Issuer Profile: 1Q25 (PDF)

  • Lender Profiles 1Q25: Top 25 (PDF)

  • GSE Repurchase Activity: Cumulative to Fourth Quarter 2024 (PDF Format)

  • IMF HMDA Dashboard: 2024

More Latest Reports

Featured Data

  • Agency MBS

    Large Nonbanks Increase Share in GSE Market

    The only banks among the top 10 GSE sellers in the first half of 2025 were Chase Home Finance and AmeriHome Mortgage. (Includes two data tables.)
  • Characteristics

    GSE Purchase Mortgages Shift to Higher Scores in 2Q

    The share of GSE purchase mortgages with credit scores of at least 740 increased from 73.8% in the first quarter of 2025 to 74.6% in the second quarter. A similar trend was seen in GSE refi business. (Includes two data tables.)
  • Issuance

    RMBS Issuance Surges in 2Q25, CMBS & ABS Down

    Agency single-family MBS issuance was up solidly in the second quarter, but it remains to be seen whether the market can match the pace set over the last six months of 2024. Commercial MBS and ABS issuance faltered in the second quarter. (Includes three data tables.)
  • MBS

    Agency Single-Family Market Up in 2Q25, Buoyed by Refis

    Credit trends remained strong as heavy refinancing activity helped boost agency business in the second quarter of 2025. The top sellers with significant TPO platforms continued to gain market share. (Includes two data tables.)
  • VA

    VA Originations Down in 1Q as Refi Activity Falls Hard

    Refi activity in the VA market cooled during the first quarter of 2025 and purchase-mortgage volume was also down. (Includes two data tables.)
  • Government-Insured Originations

    Correspondent Channel Gains Share in Government Market

    The volume of government-insured loans originated through the correspondent channel increased 10.6% on a quarterly basis in the first quarter, while retail and broker originations shrank. (Includes data table.)

Inside Mortgage Finance

  • Agency Servicing Shifts to Nonbanks, Higher Coupons

    Lakeview Loan Servicing remained the top agency servicer at midyear, including the largest portfolio of high-coupon MSR. Nonbanks continued to gain market share, as did Ginnie Mae. (Includes two data tables.)
  • Mortgage Bellwethers Report Lending Gains in 2Q, But GOS Down

    Some of the mortgage bellwethers began reporting second-quarter results this week. The good news is that loan production increased nicely from the first quarter.
    • HUD Appropriations Bill Far Exceeds Trump’s Budget Ask

    • Renters to Benefit From GSE Acceptance of VantageScore

    More Inside Mortgage Finance

Inside MBS & ABS

  • Non-Agency MBS Issuance Rising on Growth in ECM

    July 17, 2025
    Expanded-credit MBS issuance was up 25.4% from the first to the second quarter, while prime MBS saw a solid 12.6% gain. JPMorgan Chase ranked as the top issuer and underwriter of non-agency MBS. (Includes three data sets.)
  • Fed Governor Waller Hints at MBS Sales by Central Bank

    July 17, 2025
    Federal Reserve Governor Christopher Waller said the central bank’s balance sheet hasn’t grown as much as people think, but that MBS sales might be needed to balance the duration of assets and liabilities.
  • VantageScore Move Raises Questions for MBS Investors

    July 17, 2025
    It may take time for MBS investors to fully understand how use of the new credit score for underwriting loans sold to the GSEs impacts pricing and hedge strategies.
  • MBS Trades Hit Annual Low

    July 17, 2025
    If there’s any good news on the agency MBS front it’s that new issuance volume increased from the first quarter to the second. Then again, it was driven by seasonality.
More Inside MBS & ABS

Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results

Inside Nonconforming Markets

  • Non-Agency MBS Issuance Up in Second Quarter

    July 11, 2025
    Issuance of non-agency mortgage-backed securities reached $29.56 billion in the second quarter, up 17.3% from the previous quarter. (Includes data tables.)
  • Non-Agency Market Waiting on Crypto Move by GSEs

    July 11, 2025
    The GSEs look to follow in the footsteps of a handful of non-agency lenders by considering cryptocurrency holdings when underwriting mortgage borrowers. The impact on the mortgage market remains unclear.
  • AGMIT Retaining Risk on Figure Securitization

    July 11, 2025
    Figure Lending issued a securitization of home equity lines of credit this week with AG Mortgage Investment Trust acting as the retaining sponsor, a once uncommon practice in the non-agency market that’s gaining traction.
  • GSE Conforming Jumbo Business Bounces Back in 2Q

    July 11, 2025
    Securitization of conforming jumbo mortgages by the government-sponsored enterprises increased during the second quarter of 2025 after a slowdown in the previous quarter. (Includes data table.)
More Inside Nonconforming Markets

Videos

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    Mortgage Servicing, by the numbers
  • Freedom 1q24 titlecard
    Quick Look at Freedom Mortgage 1Q24
  • Qmpatchthumbnail3
    QM Patch

Inside Mortgage Trends

  • Agency MSR Transfers Slow as High-Coupon Sales Drop

    July 18, 2025
    Bulk transfers of agency MSR declined in the second quarter, partly due to reduced demand for higher-coupon portfolios. While coissuance volume was up, it failed to match the gains in agency securitization of lightly seasoned mortgages. (Includes three data tables.)
  • Agency MBS Delinquency Rates Rise in Second Quarter

    July 18, 2025
    While early-payment delinquency rates showed increases, the rate for loans 120 days or more late declined. Across all three agencies, overall 3.32% of mortgages were past due. (Includes data table.)
  • Sagging Home Prices Threaten Some Mortgage Markets

    July 18, 2025
    Declining equity and surging escrow payments may be a precursor to market stress in some parts of the country, analysts say.
  • CSBS Details Updates to NMLS Starting This Fall

    July 18, 2025
    The changes to the Nationwide Multistate Licensing System include modernized updates to the individual state license application process.
More Inside Mortgage Trends

Inside FHA/VA Lending

  • Ginnie Issuance Continues to Ride Temporary Refi Wave

    Refinances were the key reason that Ginnie MBS issuance saw sharper-than-usual increases in the second quarter of 2025. Issuance was up 30.7% from the first quarter, including a nearly 50% increase in VA refi volume. (Includes four data tables.)
  • Lenders Welcome Changes to FHA Appraisal, Underwriting Rules

    The mortgage industry expects deregulatory moves by FHA will speed up and lower costs associated with the loan origination process.
  • Advocates Stress Vets Need More than Partial Claims

    Industry and veteran organizations said pending legislation that would authorize the Department of Veterans Affairs to create a partial claims program isn’t enough to close VA’s gap with other government-backed programs.
  • FHA Softens Floodplain Standards for New Construction

    FHA eliminated restrictions placed on new construction in flood hazard areas and pulled back additional inspection requirements for properties in disaster areas.
More Inside FHA/VA Lending

Premium Newsletter Content

  • Inside Mortgage Trends

    Agency MSR Transfers Slow as High-Coupon Sales Drop

    Bulk transfers of agency MSR declined in the second quarter, partly due to reduced demand for higher-coupon portfolios. While coissuance volume was up, it failed to match the gains in agency securitization of lightly seasoned mortgages. (Includes three data tables.)
  • Inside Mortgage Finance

    Agency Servicing Shifts to Nonbanks, Higher Coupons

    Lakeview Loan Servicing remained the top agency servicer at midyear, including the largest portfolio of high-coupon MSR. Nonbanks continued to gain market share, as did Ginnie Mae. (Includes two data tables.)
  • Inside Nonconforming Markets

    Non-Agency MBS Issuance Up in Second Quarter

    Issuance of non-agency mortgage-backed securities reached $29.56 billion in the second quarter, up 17.3% from the previous quarter. (Includes data tables.)
  • Inside MBS & ABS

    Non-Agency MBS Issuance Rising on Growth in ECM

    Expanded-credit MBS issuance was up 25.4% from the first to the second quarter, while prime MBS saw a solid 12.6% gain. JPMorgan Chase ranked as the top issuer and underwriter of non-agency MBS. (Includes three data sets.)
  • Inside the CFPB

    Trump Signs Bill Cutting CFPB’s Funding Mechanism

    After a setback, Senate Republicans successfully approved a measure to cut the CFPB’s funding.
  • Inside The GSEs

    Nonbank GSE Servicers’ Market Share Flat in 2Q

    Although total GSE servicing remained almost unchanged as of the end of the second quarter, some large servicers — mostly nonbanks — experienced disproportionate year-over-year gains in volume. (Includes two data tables.)
  • Inside FHA/VA Lending

    Ginnie Issuance Continues to Ride Temporary Refi Wave

    Refinances were the key reason that Ginnie MBS issuance saw sharper-than-usual increases in the second quarter of 2025. Issuance was up 30.7% from the first quarter, including a nearly 50% increase in VA refi volume. (Includes four data tables.)

Inside The GSEs

  • Nonbank GSE Servicers’ Market Share Flat in 2Q

    Although total GSE servicing remained almost unchanged as of the end of the second quarter, some large servicers — mostly nonbanks — experienced disproportionate year-over-year gains in volume. (Includes two data tables.)
  • FICO White Paper Disputes VantageScore Claims

    Just one week after VantageScore 4.0 credit score was allowed for underwriting GSE-eligible loans, competitor FICO released data appearing to show that FICO 10 T has superior predictive capabilities.
    • GSEs Push New Tech Tools to Improve Access to Mortgage Credit

    • Title Acceptance Pilot at Fannie Ready for Takeoff

    • Fannie Winnows Mortgage Portfolio With NPL Sale

    More Inside The GSEs
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