The gain in November agency MBS issuance came from another rise in rate-term refinance securitization. United Wholesale Mortgage, Rocket and Pennymac remained the top three agency sellers despite declines in monthly volume. (Includes two data tables.)

TD Bank, the largest bank investor in ABS, increased its portfolio significantly in the third quarter, but most of its peers reported declines. (Includes two data tables.)

2025 has been a banner year for CLO issuance, mostly from refinance and reset transactions, but bank investment in the sector declined in the third quarter. (Includes data table.)

Despite lackluster new origination volume in the third quarter, most nonbanks reported solid gains in production-related income. Many of them needed it to offset sharp declines in servicing income. (Includes data table.)

Mortgage Guaranty Insurance Corp. remained the top producer among the private MIs.

Banks increased their holdings of agency MBS during the third quarter, although investment in Ginnie Mae pass-throughs fell. The industry also pulled back a bit from non-agency MBS. (Includes two data tables.)

Formation of GSE Supers securities returned to more normal levels, equaling roughly 56% of Freddie/Fannie uniform MBS production in the third quarter. Ginnie set the pace in agency REMIC issuance. (Includes two data tables.)

Government-insured production declined slightly during the third quarter, while new business for private mortgage insurers was up 3.8%. (Includes four data tables.)

Sellers are looking to sell mortgage servicing rights before yearend, but at their price, not the buyer’s price.

Rate-term refi deliveries to agency MBS more than doubled on a monthly basis to $25.37 billion in October.