Latest News

GSEs Release Historical Datasets for FICO 10T
July 2, 2026
The release is expected to help lenders and investors evaluate the performance of FICO 10T.
Mortgage-Banking Activity Declines in 1Q
July 2, 2026
The industry’s pipeline of loans held for sale was also reduced in the first quarter.
AI Causes Rise in Litigation for Non-QM Lenders
July 2, 2026
Industry leaders believe lenders need to work more closely with AI vendors to avoid compliance issues.
Hometap Hit With New Class-Action Lawsuits
July 2, 2026
Two class-action lawsuits brought forward last month allege the company is trying to circumvent the Truth in Lending Act by claiming HEIs are not loans.

Originations
Correspondents Up Share of Nonconforming Production
The correspondent channel accounted for 19.3% of nonconforming originations in the first quarter of 2026, up from 16.7% in the previous three-month period. (Includes two data tables.)
Issuance
Non-Agency MBS and GSEs Gain in First Quarter
Relatively strong refinance activity helped dampen growth in outstanding agency single-family MBS during the first quarter, but non-agency MBS posted its biggest increase in years. (Includes two data tables.)
Servicing
GSE Servicing Share Falling to Pre-Pandemic Levels
Ginnie Mae and whole loans have gained servicing share in recent years to the detriment of Fannie Mae and Freddie Mac. (Includes two data tables.)
Funding
Merchants, Northpointe Increase Warehouse Share
Merchants Bank and Northpointe Bank are putting an increased emphasis on warehouse lending. (Includes one data table.)
Ginnie Mae Issuance
Ginnie Issuance Down in May as Refis Slump
After a boomlet in April, Ginnie issuance declined a bit in May. Refi volume declined, while issuance involving purchase mortgages ticked up thanks to spring homebuying. (Includes two data tables.)
Servicing
Jumbo Servicing Volume Bumps Higher in 1Q
A group of 30 major servicers handled an estimated $1.44 trillion of jumbo mortgages at the end of March, a 1.0% increase on a quarterly basis. (Includes one data table.)

Inside Mortgage Finance

Nonbank Tops Home Equity Lenders for First Time
Rocket Mortgage was the largest originator of home equity loans in the first quarter of 2026. The nonbank started originating closed-end second liens in recent years as refi opportunities declined. (Includes three data tables.)
Housing Affordability Bill Hits Another Hurdle
President Trump said he will not sign the 21st Century ROAD to Housing Act until Congress passes the election bill.
- Banks Seek Looser Capital Requirements for MSRs
- FHA Lightens Regulatory Burdens, Eyes New Lenders
More Inside Mortgage Finance

Inside MBS & ABS

Securitization Players Seek Changes to Capital Proposal
June 25, 2026
SFA and other trade groups are seeking major changes to the re-proposed bank capital requirements. MBA raised concerns that non-agency MBS would receive more favorable capital treatment than GSE MBS.
Fitch Retains Lead in ABS Ratings, Moves Up in MBS
June 25, 2026
Fitch surged past Kroll to start 2026 as the top rating service in the non-agency MBS market. The company also extended its lead as the top ABS rating service. (Includes two data tables.)
Fed Unlikely to Cut Rates in Near-Term Under Warsh
June 25, 2026
Most analysts say that higher inflation means rate cuts are off the table for Fed Chair Kevin Warsh, even though President Trump still says he still wants lower rates.
Non-QM MBS Seen as Alternative to More Volatile Securities
June 25, 2026
Investors see expanded-credit MBS as a safer bet than consumer ABS and CLO deals.

More Inside MBS & ABS

Poll

Inside Nonconforming Markets

Non-Agency MBS Issuance Declines in Second Quarter
July 2, 2026
Issuance of non-agency mortgage-backed securities declined during the second quarter of 2026. Non-agency issuance involving GSE-eligible mortgages, though, was up slightly. (Includes data tables.)
DSCR Sector Challenged by Short-Term Delinquencies
July 2, 2026
Some debt service coverage ratio loan borrowers are deliberately going delinquent while they renovate a property to improve its long-term rental performance.
Credit Quality, Insurance Dragging Down BPL Market
July 2, 2026
A massive influx of investor demand for business-purpose loans has prompted lenders to loosen underwriting standards for the asset class.
UWM Offering Mortgages for Medical Professionals
July 2, 2026
United Wholesale Mortgage joins a growing list of lenders offering a specialized mortgage product to medical professionals.

More Inside Nonconforming Markets

Videos

Inside Mortgage Trends

Originations Decline Across All Channels in 1Q
June 26, 2026
Mortgage originations declined across the three major production channels in the first quarter of 2026. Pennymac reported a 32.8% drop in conventional-conforming volume through correspondents. (Includes two data tables.)
AI Starting to Find Footing in Non-QM Originations
June 26, 2026
Non-QM underwriting was once a hands-on process, but lenders are increasingly testing the use of AI.
Bank Mortgage Originations, Loan Sales Decline
June 26, 2026
JPMorgan Chase remained by far the most prominent seller, with $23.05 billion in volume during the first quarter. (Includes two data tables.)
Affordability Obstacles Increasing for FTHBs
June 26, 2026
Housing costs are now routinely eating up 40% of household budgets, making the path to homeownership more difficult for individuals under 35 years old.

More Inside Mortgage Trends

Inside FHA/VA Lending

Ginnie Issuance Soars in 2Q; Purchase Mortgages Strong
The securitization market for government-insured mortgages during the second quarter of 2026 was the strongest since the fourth quarter of 2021. (Includes four data tables.)
FHA Updates TPP Policies, Streamlines Approval Process
Among other changes, FHA formalized a waiver that allows borrowers to make trial payment plan payments more than 15 days before the due date without penalty.
FHA Loosens QC Standards for Appraisal Reviews
FHA has removed the requirement that lenders obtain appraisal field reviews on at least 10% of loans selected for origination and underwriting reviews.
CHLA Calls for Liquidity Backstop for Ginnie Servicers
The Community Home Lenders of America renewed its call for regulators to establish a standby liquidity facility to support Ginnie Mae servicers during periods of stress.

More Inside FHA/VA Lending

Premium Newsletter Content

Inside Mortgage Trends
Originations Decline Across All Channels in 1Q
Mortgage originations declined across the three major production channels in the first quarter of 2026. Pennymac reported a 32.8% drop in conventional-conforming volume through correspondents. (Includes two data tables.)
Inside Mortgage Finance
Nonbank Tops Home Equity Lenders for First Time
Rocket Mortgage was the largest originator of home equity loans in the first quarter of 2026. The nonbank started originating closed-end second liens in recent years as refi opportunities declined. (Includes three data tables.)
Inside Nonconforming Markets
Non-Agency MBS Issuance Declines in Second Quarter
Issuance of non-agency mortgage-backed securities declined during the second quarter of 2026. Non-agency issuance involving GSE-eligible mortgages, though, was up slightly. (Includes data tables.)
Inside MBS & ABS
Securitization Players Seek Changes to Capital Proposal
SFA and other trade groups are seeking major changes to the re-proposed bank capital requirements. MBA raised concerns that non-agency MBS would receive more favorable capital treatment than GSE MBS.
Inside the CFPB
Injunction on CFPB Layoffs Sent Back to District Court
The DC Circuit Court will allow a district court to decide what happens to a preliminary injunction that blocks the Trump administration from laying off staff at the CFPB.
Inside The GSEs
GSE Buybacks Slow in 1Q, Freddie’s Pipeline Up
Seller repurchases from Fannie and Freddie declined 21% in the first quarter of 2026 to the lowest level since 2020. But the pipeline of unresolved claims rose significantly. (Includes three data tables.)
Inside FHA/VA Lending
Ginnie Issuance Soars in 2Q; Purchase Mortgages Strong
The securitization market for government-insured mortgages during the second quarter of 2026 was the strongest since the fourth quarter of 2021. (Includes four data tables.)

Inside The GSEs

GSE Buybacks Slow in 1Q, Freddie’s Pipeline Up
Seller repurchases from Fannie and Freddie declined 21% in the first quarter of 2026 to the lowest level since 2020. But the pipeline of unresolved claims rose significantly. (Includes three data tables.)
FHFA Proposes Broad Revision of Duty-to-Serve Rule
Proposed changes would revamp the treatment of “Indian areas” and rural agricultural workers, along with altering the method of calculating area median income.
More Inside The GSEs

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