Combined issuance of Fannie Mae CAS and Freddie Mac STACRs came to $8.31 billion in 2024 — the lowest total since 2013, the year GSE CRT activity started. (Includes data table.)
Agency pass-through MBS remain the most popular asset in bank holding company trading accounts, but there was a sharp increase in agency multifamily securities during the third quarter.
The securitization rate for residential mortgages hit an estimated 68.6% in the third quarter, as more conventional-conforming loans flowed into GSE MBS.
Growth in securitizations of home equity loans slowed in the third quarter from an exponential pace earlier in the year. Still, issuance was up, with Rocket leading the way. (Includes two data tables.)
Most of the banking industry’s biggest players in residential MBS reported substantial increases in the value of their holdings in the third quarter. (Includes two data tables.)
The key vehicle ABS sector slowed in the third quarter and business-finance securitization stalled. But issuance in the first nine months of 2024 was up 22.9% from last year. (Includes three data tables.)
Early data from Fannie Mae and Freddie Mac suggest that, despite the one-two blow of Hurricanes Helene and Milton, the storms’ impact on GSE credit-risk transfer transactions is relatively modest.
Rated ABS issuance was relatively flat in the second quarter. In the non-agency MBS market, rated production was buoyed by the surging home-equity sector. (Includes two data tables.)
Although bank holding companies keep most of their CLO investments in held-to-maturity accounts, the value of CLO classified as available-for-sale was up slightly in the second quarter. (Includes data table.)
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