Despite big declines in securitization of auto loans and equipment financing, several other ABS categories saw increased issuance in the second quarter. (Includes three data tables.)

While issuance of specified pools with high GSE mission-density scores declined in the second quarter, there was a significant increase in pools with FICO scores below 700. (Includes data table.)

There was a sharp 20.6% decline in transfers of high-coupon MSR exceeding 6%.

Bulk transfers of agency MSR declined in the second quarter, partly due to reduced demand for higher-coupon portfolios. While coissuance volume was up, it failed to match the gains in agency securitization of lightly seasoned mortgages. (Includes three data tables.)

Expanded-credit MBS issuance was up 25.4% from the first to the second quarter, while prime MBS saw a solid 12.6% gain. JPMorgan Chase ranked as the top issuer and underwriter of non-agency MBS. (Includes three data sets.)

Lakeview Loan Servicing remained the top agency servicer at midyear, including the largest portfolio of high-coupon MSR. Nonbanks continued to gain market share, as did Ginnie Mae. (Includes two data tables.)

Ginnie grew its outstanding single-family mortgage-backed securities faster than Fannie Mae and Freddie Mac, keeping up with a years-long trend.

ABS issuance fell in some sectors during the second reporting period of the year.

Refi activity was up 27.1% from the first quarter and purchase volume rose 19.1%.

Agency single-family MBS issuance was up solidly in the second quarter, but it remains to be seen whether the market can match the pace set over the last six months of 2024. Commercial MBS and ABS issuance faltered in the second quarter. (Includes three data tables.)