The residential MBS market could see slumping production as interest rates climb and the housing market softens. Non-mortgage ABS issuance started the year strong, while CMBS production declined. (Includes three data tables.)
A recent paper co-authored by Federal Reserve Governor Stephan Miran identifies several policy changes that would allow the Fed’s SOMA to be reduced by up to $2.13 trillion.
S&P was the top ABS rating service in the fourth quarter and finished narrowly behind Fitch for all of 2025. Kroll held the top spot in MBS ratings for the year despite a strong challenge from Fitch. (Includes two data tables.)