The move by United Wholesale Mortgage’s (UWM) parent company to acquire Two Harbors Investment Corp. for $1.3 billion — the first acquisition in its history — marks a shift towards a more balanced business model between origination and servicing for the nation’s top mortgage lender. UWM will continue to focus on its broker channel, while […]
UWM shifts strategy with $1.3B Two Harbors deal, boosts servicing Read More »
California Attorney General Rob Bonta’s office countered a lawsuit from lenders this week, arguing a new zombie seconds law doesn’t bar certain foreclosures outright.Eric Lee/Bloomberg Lenders are raising a host of arguments to halt California’s new zombie seconds law, which they say will freeze the secondary mortgage market. Processing Content The California Mortgage Association and
California law hurts secondary mortgage market, lenders say Read More »
Andrea Joy Campbell, attorney general of the Commonwealth of Massachusetts, at a forum in Boston, Massachusetts. Photographer:Mel Musto/Bloomberg Rithm affiliate Newrez has entered into a settlement with Massachusetts Attorney General Joy Campbell that resolves allegations related to its status as a successor by merger to Specialized Loan Servicing. Processing Content “This settlement resolves a several-years-old
Newrez settles SLS allegations with state attorney general Read More »
UWM Holdings will purchase Two Harbors Investment, a real estate investment trust branded as Two, in an all-stock transaction valued at $1.3 billion. Processing Content Under the terms of the agreement, Two shareholders will receive a fixed number of UWM shares at an exchange ratio of 2.33 times. This implies a price of $11.94 per
UWM buying Two in a $1.3 billion stock deal Read More »
United Holding Corp., the parent company of United Wholesale Mortgage (UWM), has struck an all-stock deal to acquire real estate investment trust Two Harbors Investment Corp. for $1.3 billion. The transaction, announced Wednesday, will nearly double UWM’s servicing book while expanding its capabilities, creating the eighth-largest U.S. mortgage servicer, according to company estimates. Two Harbors
UWM to acquire Two Harbors, nearly doubling servicing portfolio Read More »
Newly initiated foreclosure actions at banks have risen on a consecutive-quarter basis but the overall performance of financial institutions’ home loans has remained resilient from a credit perspective. Processing Content Foreclosure starts jumped to 7,903 from 7,163 the previous quarter and 7,450 a year earlier, according to the Office of the Comptroller of the Currency’s
Foreclosures starts, re-defaults inch up at banks: OCC Read More »
Pennymac cut the ribbon on a new facility in Carrollton, Texas, on Friday, which will become the company’s largest corporate office, eventually housing more than 1,800 employees. The move consolidates two offices in the Dallas/Fort Worth metroplex while also giving the company room to grow. Pennymac is taking full advantage of the bigger space, actively hiring
Inside Pennymac’s Texas expansion and its push for top mortgage talent Read More »
Borrower equity in the U.S. saw a third-quarter pullback, while a corresponding increase in underwater mortgages is raising concerns about the financial health and debt levels of some homeowners, according to Cotality. Processing Content Home equity levels declined by $373.8 billion year over year in the third quarter, representing a drop of 2.1% to approximately
US home equity drops $374B as underwater mortgages rise Read More »
Fitch Ratings says its 2025 review of nonbank mortgage lenders reflects how the biggest players have strengthened their franchises during three years of consolidation. Processing Content “The largely stable outlooks reflect Fitch’s expectation that the operating environment will improve moderately and financial metrics will remain within rating sensitivities,” the report said It cited Inside Mortgage
Fitch flags rising leverage across nonbank lenders Read More »
Ginnie Mae announced its plans to change liquidation reporting requirements in a move that aligns its policies more closely with the government-sponsored enterprises and mortgage-market participants. Processing Content The change serves to enhance operations and improve accuracy and timeliness of liquidation event data, which are used to help determine payments tied to Ginnie Mae’s mortgage-backed
Ginnie Mae aligns liquidation reporting with GSEs Read More »