John Bancroft

Most of the overall increase in nonbank mortgage-banking income in the first quarter of 2026 came from Rithm Capital, which saw a big improvement on the servicing side. (Includes data table.)

Earnings improved during the first quarter of 2026 among a group of 13 publicly traded nonbank companies despite choppy market conditions and slowing production.

Agency purchase-mortgage volume was up modestly in May, while refinance activity, especially rate-term transactions, slowed dramatically. Total agency business may see another decline in June. (Includes two data tables.)

The agencies securitized $30.31 billion of rate-term refis in May, a 32.6% decline from April.

An analysis of earnings reports from 18 lenders showed combined income from production and secondary market rose to $2.75 billion in the first quarter, a 5.0% increase from the previous period.

AGNC Investment passed Annaly Capital Management during the first quarter of 2026 as the largest real estate investment trust in terms of holdings of MBS.

A total of $545.80 billion of non-agency MBS backed by single-family mortgages was outstanding at the end of March.

Seller repurchases of defective loans from the government-sponsored enterprises fell in the first quarter to their lowest level since 2020.

Rising interest rates took a bite out of MBS and ABS issuance in May and June.

Much of the decline was from activity with seasoned mortgages.