In terms of new HELOC commitments for the second quarter, Bank of America led the pack with $2.77 billion, followed by Wells Fargo ($1.91 billion) and Citizens Bank ($1.50 billion).
Most of the industry's pullback in ABS holding resulted from portfolio trimming by the three largest bank investors. Total ABS outstanding rose sharply in the second quarter.
Year-to-date CLO issuance lagged behind the pace set in 2018 because of a slowdown in refinance transactions. Octagon Investment Partners was the most active sponsor at midyear.
A major influx of refinance business pushed Fannie and Freddie MBS issuance to $120.25 billion in August, their biggest monthly production since January 2013.