Residential finance can be cyclical, but what inning is the correction in? Investors are willing to buy mortgage company debt...but at a price.

In its final days, it appears that non-QM originator Sprout Mortgage had an IRS matter it was trying to work out. Current status: Unknown.

The mortgage IPO market is in tatters these days, given higher interest rates and rapidly shrinking profits and originations. So why does fintech Better.com think it can pull off a deal?

All quiet on the mortgage M&A front? Select deals are getting done. One recent buyer: Bill Lowman’s American Pacific Mortgage.

It’s not every day that a mortgage company files for bankruptcy protection, especially one owned by PIMCO. As for the future of that mortgage company, FGMC, a sale of its licenses is expected. After that, it’s game over.

With origination profits remaining depressed, most mortgage shops are tapping MSRs to bolster their quarterly results. As that old saying goes, “If you got ‘em, smoke ‘em.”

Lower has acquired Hamilton Home Loans. Also, HomeLight is acquiring Denver-based Accept.inc to build out its cash offer program.

PE shops have quietly entered the MSR arena as owners, reaping strong gains. How long they might stick around depends on the direction of interest rates.

The Community Home Lenders Association has raised concerns that an entity with dominant market position could engage in anti-competitive behavior.

Does mortgage fintech Better.com have a future not tied to a SPAC? A sale perhaps? Meanwhile, more lenders are pulling the reduction-in-force lever.