Ratings from a single firm are increasingly common for single-asset/single-borrower commercial MBS, a sign of potential rating shopping.

The company recently closed its first rated securitization of the year backed by home equity investments.

While institutional investors and insurance companies have been increasing their allocations to whole loans, the infrastructure supporting those allocations hasn’t kept pace, the software company said.

Since the Iran war started, interest rates have returned to where they were when President Trump directed the GSEs to purchase $200 billion in MBS and most analysts say GSE reform is now off the table.

The government-sponsored enterprises and Ginnie Mae have requirements that keep many community development financial institutions out of the mortgage business, according to CDFIs.

JPMorgan Chase remained the largest bank CLO investor despite a modest decline in its portfolio during the fourth quarter of 2025. (Includes data table.)

Morningstar DBRS has proposed loosening its rating criteria for residential MBS, given the strong performance of loans originated after 2008.

Loans in the deal were largely originated by Huntington Bank. Banks traditionally hold so-called medical professional mortgages in portfolio.

Delinquencies on auto loan ABS are increasing, with additional hikes expected, particularly for subprime deals.

S&P has seen several proposals for ABS similar to the $188 million deal Ledn issued in February tied to loans secured by bitcoin holdings.