The MBS contain mortgages from a variety of lenders, including newer production and loans originated more than two years ago.

Given steeply higher rates and much narrower lending profits the past six months, Better’s journey to the NYSE has been anything but smooth.

The take-away compared to years past: FHA lenders appear to be behaving themselves...

Riverbend Funding originated more than $1.0 billion of bridge loans over the past 12 months...

And let us now praise MSRs...

Among the top 10 funders, the declines were mostly brutal, ranging from a low of -21.1% to a high of -37.2%.

Despite the good news on MSR valuations, Ocwen is getting squeezed on originations, just like every other mortgage banker.

The veteran mortgage advisor believes lenders should be instituting more layoffs.

Richard Horn, a former CFPB senior counsel, said the bureau has been “surprisingly quiet in terms of real actions.”

Is the worst of the mortgage rate increases over? Hard to say. Meanwhile, publicly traded nonbanks may be forced to curtail their dividend payments to common shareholders.