S&P was the top ABS rating service in the fourth quarter and finished narrowly behind Fitch for all of 2025. Kroll held the top spot in MBS ratings for the year despite a strong challenge from Fitch. (Includes two data tables.)
Among 19 companies that report details on their mortgage-banking operations, production and secondary marketing income was up 10.5%, while servicing saw a 45.3% increase.
Lenders repurchased just over $2 million in defective loans from GSE mortgage-backed securities in 2025, the lowest annual total since 2020. (Includes three data tables.)
Earnings reports from public companies showed gains in production-related and servicing income during the fourth quarter, but the broader MBA performance study found declines on both sides of the business. (Includes data tables.)
While depository institutions and the central bank scaled back their MBS holdings during the fourth quarter, money managers, life insurance companies and the GSEs ramped up their portfolios. (Includes three data tables.)
JPMorgan Chase remained the largest bank CLO investor despite a modest decline in its portfolio during the fourth quarter of 2025. (Includes data table.)
The residential MBS holdings of 17 publicly traded REITs were valued at $247.16 billion as of the end of last year, a gain of 6.9% from the end of September.
The two largest bank ABS investors, TD Bank and Bank of America, accounted for virtually all of the industry’s fourth-quarter growth in non-mortgage ABS. (Includes two data tables.)