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Mortgage

UWM broker ultimatum tied to 5 bps price drop at rivals

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United Wholesale Mortgage’s 2021 move to bar its broker partners from also sending loans to Rocket Mortgage drove an average price decrease of 5 basis points per loan at companies not targeted by the policy, according to a new academic paper.

Mortgage

UWM likely better off after losing Two Harbors deal, KBW says

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KBW says UWM avoids leverage risk after the Two Harbors loss, and a dividend cut could cut its debt-to-equity ratio from 3.1x to 2.2x by 2027.

Mortgage

Two Harbors investors approve sale to CCM at $12 per share

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Shareholders of Two Harbors Investment Corp. have approved the company’s sale to an affiliate of CrossCountry Mortgage (CCM).

Mortgage

UWM, Two Harbors CEOs clash in emails ahead of CCM deal vote

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Executives at United Wholesale Mortgage and Two Harbors Investment Corp. raised the heat in an email exchange during their latest round of deal negotiations.

LendingLife

UWM fails to submit revised bid for Two Harbors, seller says

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Two Harbors Investment Corp. said in a letter on Monday that UWM Holdings Corp. failed to submit a revised offer to buy the company or request to extend a waiver period to negotiate.

Legal

UWM sanctioned after judge orders Ishbia deposition

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A federal judge has ordered United Wholesale Mortgage (UWM) to make its CEO, Mat Ishbia, available for a deposition in a dispute with Atlantic Trust Mortgage Corporation.