October 10, 2025 | Inside Mortgage Finance

ECM Lifts Non-Agency MBS to Post-Crash High in 3Q

Expanded-credit MBS and securitizations of home equity loans helped push issuance of non-agency MBS in the third quarter of 2025 to a level last seen in 2007. (Includes three data tables.) Read More

Investors Seeing High Returns in Residual Pieces

Residuals from securitizations can generate close to 20% in returns though the asset class carries significant risks. Nonbanks are showing a strong appetite for the asset, but there is limited liquidity. Read More

Data Center ABS Relatively Safe From AI Bubble Fears

Securitizations linked to data centers are mostly insulated from the direct risks of a potential AI bubble, according to industry participants. Read More

Fitch Publishes Final Rating Criteria for Non-Agency MBS

The criteria are looser than Fitch’s previous standards. The updates include higher penalty on mortgages with DSCR below 0.75x and an expanded modification outcome scenario to derive total loss severities to second-lien collateral. Read More

CMBS Issuance Set for Strong Fourth Quarter

Issuance of commercial MBS in 2025 is poised to surpass last year’s volume. It’s been a strong year for CMBS across asset types except office space. Read More

ABS Issuer Expands to Auto Loans; First Deal From Imprint

Upgrade is getting into auto loan ABS issuance and Imprint Payments is set to issue its first credit card ABS. Read More

U.S. Banks Increase Use of Synthetic-Risk Transfers

Federal Reserve guidance issued in 2023 has opened up depositories to issue more synthetic-risk transfer securitizations in a market that was historically dominated by European banks. Read More

Grapevine: Rocket Back With ABS; Long-Duration CLO

Rocket is set to issue its second consumer loan ABS; Golub Capital issues rare long-duration CLO; large jumbo MBS from Chase; ratings performing as expected. Read More

Inside MBS & ABS

October 9, 2025

View Archived Issues

ECM Lifts Non-Agency MBS to Post-Crash High in 3Q

Investors Seeing High Returns in Residual Pieces

Data Center ABS Relatively Safe From AI Bubble Fears

Fitch Publishes Final Rating Criteria for Non-Agency MBS

CMBS Issuance Set for Strong Fourth Quarter

ABS Issuer Expands to Auto Loans; First Deal From Imprint

U.S. Banks Increase Use of Synthetic-Risk Transfers

Grapevine: Rocket Back With ABS; Long-Duration CLO

Latest Imf News

Mortgage Buyback Activity at Banks Down Somewhat in 3Q

NCRC Launches Fair Lending Tip Line

Locks for Refis Trail Off in November

Citi Broadens Prime Non-Agency MBS Issuance With Higher LTV Ratios

Featured Data

Nonbanks Post Small Drop in Mortgage-Banking Income

Bank MSR Portfolios Shrink Slightly, Valuation Strong

Bank ABS Holdings Decline in 3Q25, Auto Portfolios Grow

Lending Slows Across Products in Third Quarter

Featured Reports

Lender Profiles 2Q25: Top 25 (PDF)

GSE Repurchase Activity: Cumulative to Second Quarter 2025 (PDF Format)

Mortgage Profitability Report 2Q25 (PDF)

IMF HMDA Dashboard: 2024

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

Inside MBS & ABS

October 9, 2025

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?