National Mortgage News has retracted an opinion article, "FHFA should resist calls to weaken mortgage standards," published on Jan. 8. The story did not meet National Mortgage News' editorial standards for disclosure of the author's business affiliations.
The companies now anticipate generating around $14 billion in annual origination volume, making them one of the biggest lenders in the country.
The announcement follows a leave of absence in which Ginnie Mae President Joe Gormley helped cover the Federal Housing Admission Commissioner's responsibilities.
A credit union service organization is buying the division, which includes mortgage services provider QRL, while the seller repositions its home loan business.
The Bureau of Labor Statistics Friday reported that the economy added 172,000 jobs in May and revised March and April's employment upward, making the Federal Reserve less likely to cut interest rates to support the labor market in the near term.
Given the recent decline in UWM's stock price, it is likely Two Harbor's shareholders will choose cash, meaning the deal is no longer a positive, KBW said.
All 11 Democrats on the Senate Banking Committee are backing a bill that would restore and lock in funding for the Consumer Financial Protection Bureau.
