Rocket Cos. came oh-so-close to reclaiming the top spot among mortgage originators in the first quarter. Processing Content The company, which acquired Redfin and Mr. Cooper last year, had closed loan volume of $44.7 billion. Its Detroit rival, United Wholesale Mortgage, ended the period with $44.9 billion. Pennymac trailed with $37 billion. But when asked […]
Rocket nearly tops UWM with $44.7B in recapture-driven volume Read More »
Carrington Mortgage Services will acquire Valon Mortgage and adopt the fintech’s servicing software to handle its book of Ginnie Mae loans, the firms said Thursday. Processing Content The deal will expand Carrington’s servicing portfolio by around 800,000 loans, according to a press release, marking yet another major industry play for servicing. Carrington said it’s buying
Carrington to acquire Valon Mortgage, use fintech’s software Read More »
UWM Holdings, locked in a battle with CrossCountry for Two Harbors Investment, had a banner first quarter, with GAAP net earnings of $170.4 million. Processing Content This compared with $165.5 million in the fourth quarter, and a net loss of $247 million for the first quarter of 2025. Addressing the transaction, Chairman, CEO and President
UWM posts strong Q1 in the midst of Two Harbors battle Read More »
CrossCountry Mortgage has put out its own response to the latest statements from UWM Holdings regarding the financing conditions of their respective offers for Two Harbors. Processing Content UWM has made a cash or stock offer, but only the cash portion is for a set price of $12 per share. Meanwhile Two Harbors has an
CrossCountry responds to UWM’s comments on TWO deal Read More »
The Two Harbors Investment board’s rejection of the updated $12 per share offer from UWM Holdings will not be the coda on this hostile take-over battle, Keefe, Bruyette & Woods analyst Bose George stated. Processing Content “While TWO shares are likely to be weak, it’s not clear that this is the last word on the
TWO rejects UWM offer, but analyst says this isn’t the end Read More »
Highlands Residential announced Thursday that it has purchased The Equitable Mortgage Corp. in Dublin, Ohio. Processing Content Terms of the transaction were not disclosed. The purchase gives one of the lenders that has consistently appeared in The Best Mortgage Companies to Work For rankings access to an operation founded in 1995 that has steadily grown
Highlands Residential buys The Equitable Mortgage Corp. Read More »
UWM Holdings’ latest bid for Two Harbors consists of $12 cash per share or 2.3328 shares of its common stock, looking to top the $11.30 per share cash price CrossCountry Mortgage agreed to pay. Processing Content The Troy, Michigan-based lender, whose previous all-stock deal to buy Two Harbors failed to obtain a quorum at the
UWM reaches directly to TWO shareholders with higher bid Read More »
Castlelake is forming a joint venture with Redwood Trust to purchase up to $8 billion of prime jumbo mortgage loans. Processing Content The partnership was designed to support the growth of Redwood’s Sequoia platform and give Castlelake, an investment firm specializing in asset-based private credit, programmatic purchasing power for the fully documented loans. Sequoia will
Castlelake, Redwood form $8B jumbo mortgage venture Read More »
While Two Harbors Investment returned to profitability in the first quarter on a GAAP basis, the real estate investment trust reported a loss using a non-GAAP metric, comprehensive income. Processing Content Shares of Two Harbors rose 55 cents to $11.56 in the first 10 minutes of Wednesday trading, after CrossCountry raised its acquisition offer to
Two Harbors turns GAAP profit amid CrossCountry bid Read More »
CrossCountry Mortgage has increased its bid for Two Harbors Investment by 50 cents per share for the common stock. This is in response to an unsolicited proposal on April 20 from original merger partner UWM Holdings, a press release said. Processing Content The new price will be $11.30 per share in the all-cash transaction. The
CrossCountry ups Two Harbors bid after new UWM proposal Read More »