CLO reset transaction volume more than doubled from the second quarter to the third to account for 62% of total CLO issuance. New CLO issuance was running about 11% ahead of the pace set in the first nine months of 2024.

Issuance of specified-pool MBS in the third quarter was up 21.5% at Freddie Mac. The biggest increase was in pools of loans on New York properties.

The amount of agency servicing with coupons over 6.0% increased by 10.2% during the third quarter.

The securitization of vehicle loans and financing for a range of businesses powered an all-time record of $107.7 billion of ABS issuance during the third quarter. Carmakers dominated the issuer ranking. (Includes three data tables.)

There was nearly $2 trillion in agency mortgage servicing with coupons over 6% at the end of the third quarter, a bounty of refinance business if mortgage interest rates decline. (Includes two data tables.)

Rocket was the top issuer of HEL deals in the third quarter, increasing its issuance 27.8% from the second quarter.

Purchase-mortgage securitizations held agency acquisitions afloat in the third quarter.

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.)

Agency refinance business slowed significantly in the third quarter, and the market seemed to turn in September as purchase-mortgage volume also declined. (Includes two data tables.)

Issuance of commercial MBS and non-mortgage ABS increased at a faster pace during the third quarter than issuance of residential MBS.