Robert Haslehurst, who leads the global pricing practice at L.E.K. Consulting, noted that the uncertainty surrounding tariffs is at an all-time high, matching only the early Covid lockdowns and the 2007-08 financial crisis.
Snap's first-quarter revenue of $1.36 billion grew 14%, exceeding expectations, but faced challenges with regional advertising weaknesses, especially outside the U.S. and Europe.
"We're the tenth-largest bank servicer in the country. We've bought MSRs, and that's purely an economic play. The immortal role of buying low and selling high applied when we bought MSRs when they were at 3% and 4% interest rates."
Continuing its streak at the top of the list is Finance of America (FOA), with 31% market share and issuance of 315 pools for a total of more than $1.8 billion. FOA issued 83 fewer HMBS pools than it did in 2023, according to the data. Company leaders highlighted both its HMBS market position and the elevated levels of home equity held by older Americans as indications of its market presence in the reverse mortgage space.