RMBS is Back in Vogue as Demand Outstrips Massive Supply

August 28, 2026

Author: Harrison Connery and Guelda Voien

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Nearly 20 years after the great financial crisis, US home equity is again the collateral bedrock of a boom in securitized debt, with the highest mortgage-bond supply in years met by even higher investor demand.

 

This time, it looks very different.

 

Private-label RMBS issuance has surpassed $180bn YTD, putting it on pace for its best year since 2008, according to Bank of America research. That is already within striking distance of the total for all of 2025, when $196bn of broadly offered private-label RMBS printed, according to the SEC. BofA projects total issuance could top $250bn by the end of the year.

 

[…]

 

At Saluda Grade, which has recently been pushing beyond its residential credit roots, newly appointed chief strategy officer Blake Egersaid risk customization is more important than ever.

 

“Direct lending started creating these rated feeder structures,” she told 9fin. “That’s coming into our world too.”

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Read the full story here (subscription required): RMBS is back in vogue as demand outstrips massive supply

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