Two Harbors Investment has jilted UWM Holdings at the altar, agreeing to be acquired by CrossCountry Mortgage for $10.80 in an all-cash transaction. Processing Content UWM went into attack mode following the announcement before the market’s opened on Friday morning. “The actions taken by TWO’s management team and board do not reflect the best interests […]
Two Harbors jilts UWM Holdings for CrossCountry Read More »
Shortly after announcing a merger agreement with retail lender CrossCountry Mortgage, Summit Funding said it will permanently eliminate 163 positions across the company. Processing Content The Sacramento, California-based home lender informed state officials in a mandatory Worker Adjustment and Retraining Notification filing dated March 19, just one day after the merger was officially announced. The
Summit lays off dozens in wake of CrossCountry deal Read More »
Two Harbor released a statement early Monday calling CrossCountry’s unsolicited acquisition offer “superior” to other acquisition proposals it has received, but noted that determination is not set in stone amid ongoing competition from prospective buyers. Processing Content CrossCountry has offered to buy all Two Harbors’ stock for $10.70 cash. Two Harbors said CrossCounty also pledged
CrossCountry, UWM vie for Two Harbors in bidding war Read More »
While the mortgage industry is watching how the situation between UWM Holdings and an unnamed buyer for Two Harbors will work out, another large lender is diving headlong into a merger. Processing Content CrossCountry Mortgage, the Cleveland-based lender that says it’s been No. 1 in retail three years running, has agreed to buy another privately
CrossCountry adding top 35 lender Summit Funding Read More »
UWM Holdings will likely have to increase its offer to get the agreed to purchase of Two Harbors over the finish line. Processing Content Two Harbors announced before the markets opened on March 19 it had received an unsolicited proposal to purchase all of the company’s stock at $10.77 per share, above its March 18
TWO receives unsolicited all-cash bid, endangering UWM deal Read More »
UWM Holdings may have to increase its offer to get the agreed to purchase of Two Harbors over the finish line, industry analysts are speculating. Processing Content Two Harbors adjourned the special meeting that was to approve the deal on March 16 to March 24 in order to solicit more proxies. But the first sign
UWM’s Two Harbors deal in doubt, analysts warn Read More »
A New York-based private equity firm is acquiring Apex Analytics, formerly Voxtur Analytics, after a tumultuous past few years. Processing Content Hale Capital Management, which has a focus on investing in technology and technology-enabled companies at key moments of transformation, bought Voxtur’s existing senior secured indebtedness from Bank of Montreal in September, an obligation the
PE firm buys mortgage tech company formerly known as Voxtur Read More »
The acquisition of Two Harbors by UWM Holdings is possibly on life support as the real estate investment trust’s special meeting to approve the transaction, scheduled for March 16 was adjourned because of an apparent lack of participation. Processing Content March 24 is when the meeting will reconvene after an effort by Two Harbors to
Two Harbors postpones UWM merger vote meeting Read More »
Freedom Mortgage is expanding with a deal to acquire Seneca Mortgage Servicing. Processing Content Parent company Freedom Superior signed an agreement to buy the firm and its related entities from asset manager EJF Capital, it announced Monday. It’s yet another move by one of the industry’s biggest players to add servicing assets, in more consolidation
Freedom acquires Seneca Mortgage Servicing Read More »
Radian Group will be shutting its mortgage conduit rather than trying to find a buyer for the business, the company confirmed. Processing Content The story originally appeared in HousingWire. “Radian ceased accepting new business for Radian Mortgage Capital early last week and is in the process of thoughtfully winding down the business over the coming
Radian shuts mortgage conduit instead of selling Read More »