[GodGunsGuts]

Since 2003, Heperion has seen lower lows and mostly flat (and now declining) highs. Not a good sign:

[defenderSD]

I think the longer-term trend mainly reflects the increase in interest rates from numerous interest rate hikes by the Fed over the last four years. I don't see any sign in the chart that investors have become more concerned about the mortgage business during the last year.