For years, industry analysts raised concerns about the quality of CLOs, warning of poor performance. While issues from the coronavirus prompted some problems, AAA-rated tranches of CLOs have held strong.

In 2020, mortgage records were broken all over the industry. MBS trading, meanwhile, had its best year since 2010.

When Wall Street lines up to lend you money, that’s a good thing. Figure has a new LOC from JPM and is planning its first MBS deal.