Home equity investment deals propped up issuance of home equity loan securitizations in the fourth quarter. For the full year, HEL securitizations nearly doubled from 2024 levels. (Includes three data tables.)

Investors are showing strong demand for non-agency MBS, leaving leaders of issuers optimistic.

Home equity investment securitization deal sizes increased with issuance in November and activity is expected to remain elevated in 2026 thanks to strong demand from investors.