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As tariff turbulence continues, BofA is predicting a slowdown, not a downturn. But America's second-largest bank is also signaling that it's prepared for a more severe scenario.

The deal has an extensive capital structure, which is expected to repay investors sequentially, with notes enhanced by subordination.

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.

The re-engineering of the convertible note arrangement between the two parties includes a one-time cash payment of $110 million by Better.

Cross 2025-H3 has moderate leverage, according to KBRA, with a weighted average (WA) loan-to-value ratio of 72.3%, and a debt-to-income ratio of 33.5%.

Omeed Malik, who runs a merchant bank and a hedge fund, is a Republican donor and works with Republican-linked businessmen including Donald Trump Jr.

The Buffalo, New York-based bank also said Monday that the commercial real estate lending market has started showing signs of life, but that the renewed competition is crimping its loan growth.

The Federal Housing Finance Agency ended comments on expanded suspended counterparties list criteria in December and has done nothing with it since.

The notes will get credit enhancement from balances on the subordinate bonds, which are permitted to amortize.

The advocacy executive said there was a lot of misinformation regarding Rocket Pro and that the "rumors versus reality is very different."