JPMorgan Chase remained the top bank investor in CLO at the end of the first quarter of 2025, though its portfolio was down 10% from the prior period. (Includes data table.)

Supers MBS repackage smaller securities with similar characteristics to make management of the assets more efficient.

Auto ABS was the one sector that sparked some interest among banks as the industry upped its stake in the market by 5%. (Includes two data tables.)

Fannie Supers issuance was up sharply in the first quarter as the Fed finished restructuring its Fannie portfolio. Ginnie led the increase in agency REMIC production. (Includes two data tables.)

Although six companies recorded quarterly increases in mortgage-banking earnings, three industry leaders posted huge declines and another nonbank posted a net loss.

Nonbanks reported a huge decline in servicing income during the first quarter, on the heels of a bonanza driven by MSR markups in the prior period. Meanwhile, gain-on-sale revenue fell as loan production volume declined sharply. (Includes data table.)

Banks reported that just over half of their long-term investment in residential MBS was classified as available-for-sale. Overall holdings were up, particularly Ginnie MBS. (Includes two data tables.)

Some $11.98 billion of office-property financing was securitized in the first quarter, more than six times the volume in 4Q24.

The FHA/VA share of primary MI volume increased from 60.5% of activity in the fourth quarter of 2024 to 63.8% in the first quarter of 2025.

A heavy load of maturing commercial real estate loans is expected to boost non-agency CMBS production in 2025, and first-quarter issuance suggests the market is up to the challenge. Agency multifamily MBS got off to a slow start, as usual. (Includes two data tables.)