The commercial MBS delinquency rate climbed in December. Record CMBS issuance as well as a fading maturity wall are expected in 2026.

Industry members in the nonconforming loan space encouraged lenders to be wary of the risks involved in debt service coverage ratio mortgages and residential transition loans. At a recent conference hosted by Information Management Network, they urged attendees to keep an eye on certain key details in the transactions.

The lender’s optimism stems from its origination capabilities and its recent acquisitions of Redfin and Mr. Cooper Group.

During the fourth quarter of 2025, issuance of expanded-credit mortgage-backed securities declined on a quarterly basis for the first time in two years.

Winter weather may have contributed to the decline in applications last week.

Lenders want to build long-term partnerships with originators ahead of an upcoming boost in production volume this year.

Issuance of expanded-credit mortgage-backed securities declined during the fourth quarter of 2025, marking the first quarterly decline in issuance for the sector in two years. (Includes three data tables.)

Annaly Capital Management achieved company records in lock volume and securitization issuance during the fourth quarter of 2025.

With the potential for interest rates to decline further, originators in the RTL and DSCR space have varying strategies for dealing with volume changes.