As the Trump-induced turmoil spread, Treasury yields — defying historic norms — headed north.

Investor interest in MSRs remains strong, very strong.

The tariff war blew a hole in non-QM profits last week, but a turnaround is underway.

Moody’s affirms assessments on Redwood; Deephaven loosens DSCR underwriting; Dan Perl update; ARDRI acquires expanded-credit lender; new proprietary reverse mortgages from Mutual of Omaha Mortgage.

At March 31, USB serviced $216.7 billion of one- to four-family mortgages, almost flat compared to yearend.

“They’re making money, but they just don’t know how much longer they can hang on,” said Mark Garland, managing director of SitusAMC.

The home lending business was not a pretty place to be January-March.

The coupon on the heavily California portfolio is 3.13%.

At yearend 2024, Better had $211.1 million of cash on its balance sheet, down from $503.6 million 12 months earlier.

In the Trump economy, predicting which way rates might go in the wake of a stock market swoon is more difficult than usual. As for MBS spreads narrowing, don’t bet on it anytime soon.