Apply Online
Schedule a Call

Servicing

Two Harbors rejects UWM revised offer, cites financing risk

CrossCountry Mortgage, HWmember, LendingLife, Mergers and Acquisitions, Mortgage, Servicing, Two Harbors Investment Corp., United Wholesale Mortgage /

A revised proposal from UWM Holdings Corporation to acquire Two Harbors Investment Corp. was formally rejected by the seller’s board of directors, citing “financing, closing, business and credibility risks.” The board continues to unanimously support the competing bid from CrossCountry Mortgage, LLC.  In late April, UWM intensified its campaign to acquire TWO by issuing an […]

Two Harbors rejects UWM revised offer, cites financing risk Read More »

UWM raises Two Harbors bid to $12 per share

CrossCountry Mortgage, HWmember, LendingLife, Mergers and Acquisitions, Mortgage, Servicing, Two Harbors Investment Corp., United Wholesale Mortgage /

UWM Holdings Corp. is pressing its campaign to acquire Two Harbors Investment Corp. (TWO), issuing an open letter to the seller shareholders Thursday evening that details a sweetened proposal that valued the real estate investment trust (REIT) at $12 per share, positioning the bid as superior to the pending sale to CrossCountry Intermediate Holdco. UWM

UWM raises Two Harbors bid to $12 per share Read More »

K-shaped economy amplifies rise in nonprime DTI ratios

Credit, Mortgages, Servicing, Underwriting /

Total debt-to-income ratios have risen beyond prepandemic levels and the trend is particularly pronounced for nonprime in the current K-shaped economy, according to a new TransUnion study. Processing Content While DTIs are below caps in the 28/36 rule corresponding to some mortgage lenders’ front- and back-end ratio limits, the increases — along with higher utilization

K-shaped economy amplifies rise in nonprime DTI ratios Read More »

Better partners with Stripe to launch home equity card

Better.com, Credit cards, HELOCs, Servicing /

Better Home & Finance is releasing a new product that will help homeowners access home equity. Processing Content The mortgage originator announced Wednesday the launch of its Better Home Equity Card on Stripe Issuing. The card offers a simpler and digital alternative to high-cost unsecured debt for home renovations and improvements, the company said. “Homeowners

Better partners with Stripe to launch home equity card Read More »

CrossCountry raises bid for Two Harbors after rival offer from UWM

CrossCountry Mortgage, HWmember, Mergers and Acquisitions, Mortgage, Origination, Servicing, Two Harbors Investment Corp., United Wholesale Mortgage /

UWM Holding Corp. may not win the bid to acquire Two Harbors Investment Corp., but an unsolicited proposal for the real estate investment trust just forced CrossCountry Intermediate Holdco to raise its offering. Two Harbors announced Tuesday that it amended its merger agreement to increase the all-cash price CrossCountry will pay to $11.30 per share.

CrossCountry raises bid for Two Harbors after rival offer from UWM Read More »

CrossCountry ups Two Harbors bid after new UWM proposal

Earnings, M&A, Servicing, UWM /

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 »

California bills would pause mortgage payments in disasters

California bills would pause mortgage payments in disasters

California, Homeowners insurance, Regulation and compliance, Servicing, Wildfires /

Three wildfire-relief bills, including one that would let homeowners pause mortgage payments after a disaster declaration, cleared their respective California committees this month and are headed to formal votes.  Processing Content State Assemblymember John Harabedian, D-Pasadena, whose district includes some of the neighborhoods hardest hit by the early-2025 Los Angeles wildfires, led proposals for all

California bills would pause mortgage payments in disasters Read More »

Ginnie Mae pauses delinquency rules amid FHA waterfall shift

Ginnie Mae pauses delinquency rules amid FHA waterfall shift

Capital markets, Distressed, Regulation and compliance, Secondary markets, Servicing /

Government mortgage-backed securities guarantor Ginnie Mae announced that it’s changing how it will be tracking delinquencies in monthly issuer reporting to account for impacts from a rule update. Processing Content To address the uptick in a large number of older loans entering trial payment plans as a result of the Federal Housing Administration’s adjustment to

Ginnie Mae pauses delinquency rules amid FHA waterfall shift Read More »