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Servicers kept refinance retention high in 2025, but lost most borrowers

According to HousingWire citing ICE, servicers lost two of every three refinancing borrowers in 2025 despite being at their best refinance retention since 2014.

Reported · Written up by our desk · Mortgages

Servicers saw their best refinance retention since 2014, but still lost most borrowers who refinanced in 2025, according to HousingWire citing data from ICE.

HousingWire also pointed to MBA reporting that lenders faced an $11,094 cost to originate and $785 profit per loan, which the outlet said may push lenders toward more proactive human service rather than relying on retention tactics alone.

HousingWire criticized industry language around “recapture,” arguing it reflects an approach focused on control rather than obligations to borrowers, and it said servicers were losing the chance to “earn the next phone call” even in its best quarter.

The outlet added that servicers closed out 2025 with refinance retention at an elevated level, yet still “lost two of every three” refinancing borrowers, framing that as evidence that the current approach is not working as intended.

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