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.)

Some 68.0% of mortgages originated in 2025 were sold into MBS. Securitization rates were stable across most products, except for expanded-credit mortgages, where the securitization rate increased sharply. (Includes data table.)

JPMorgan Chase remained the largest bank CLO investor despite a modest decline in its portfolio during the fourth quarter of 2025. (Includes data table.)