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.)

More than 90% of expanded-credit mortgage production went into MBS in the first quarter of 2026. (Includes data table.)

Fannie saw a slightly bigger increase in Supers issuance than Freddie did in the first quarter. Ginnie Platinum issuance was down, but the agency led the way in CMO production. (Includes two data tables.)

Excluding a one-off $5.69 billion issuance from Chase, securitization of home equity loans declined during the first quarter. Activity involving closed-end second liens held up while HELOC issuance fell. (Includes three data tables.)

Fannie Mae and Freddie Mac each issued two CRT transactions during the first quarter of 2026, including deals in March amid broader economic volatility. (Includes data table.)

A handful of GSE specified-pool categories based on maximum loan amounts saw increased production in the first quarter, as did MBS backed by investor loans. (Includes data table.)

Fannie Mae expanded its portfolio by adding both whole loans and MBS, while Freddie Mac cut whole loans as it added MBS.

Much of the first-quarter decline in CLO issuance came from a sharp slowdown in reset and refinance transactions. Meanwhile, issuance backed by commercial real estate is having a moment.

Some 68.0% of mortgages originated in 2025 were sold into MBS. Securitization rates were stable across most products, except for expanded-credit mortgages, where the securitization rate increased sharply. (Includes data table.)

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