S&P Global Ratings has found that data center ABS ratings look likely to hold up to stress amid the sector’s unprecedented growth.

The decline included a reduction in holdings of adjustable-rate mortgages.

The parent company of Texas Capital Bank has a new mortgage trading platform, consolidating the asset lifecycle into one offering.

“Get comfortable with reading the guidelines and understand what you want to be,” said Audrie Gregory, vice president of correspondent lending at Verus Mortgage Capital, a non-agency conduit.

Adjustable-rate mortgages accounted for 38.2% of first-lien holdings at banks and thrifts at the end of March, down from 42.6% at the end of December. (Includes data table.)

At the MBA’s secondary market conference this week, non-agency industry participants discussed how to keep non-QM originations flowing through market volatility.

Demand from insurance companies is helping fuel originations of mortgages underwritten with debt service coverage ratios.

Among the top-five servicers handling non-agency mortgage-backed securities, JPMorgan Chase was the only servicer to see a drop in volume in the first quarter. (Includes data table.)

Non-agency originations of higher-priced mortgages declined to $32.29 billion in 2025. The loans accounted for just 1.7% of total originations last year. (Includes two data tables.)

Officials at Figure Technology Solutions see home equity lines of credit as a way to get into the residential mortgage market. They plan to expand into other offerings.