UWM

KBW now rates UWM as outperform, and BTIG calls the stock a buy, but both cite high leverage levels and industry macro trends depressing its stock price.

The latest postponement comes after a UWM filing states that Two Harbors shareholders are rejecting the deal, with 54% voting no as of June 12.

United Wholesale Mortgage allows the financing to be extended to borrowers with certain medical degrees with low down payments or potentially even none at all.

Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.

Bill Greenberg and Mat Ishbia held a video chat on June 11. The companies disputed the outcome, but in the end, UWM did not make a new proposal for Two Harbors.

Two Harbors opens a negotiating window for UWM this week for a revised offer, but the bid has to be all cash, the REIT will not entertain a stock alternative.

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.

The announcement comes following an Institutional Shareholder Services report which urges shareholders to vote no on the CrossCountry Mortgage transaction.

While those electing cash could receive $12.50 per share, UWM's all-stock alternative remains unchanged from the company's initial agreement for Two Harbors.

The latest offer, 70 cents per share higher than previously agreed to, equals the cash proposal made by UWM Holdings to win over Two Harbors' shareholders.

The company turned a GAAP profit of $170.4 million for the quarter, with its volume and margins relatively flat compared with the fourth quarter of 2025.

CrossCountry defended its lower bid for Two Harbors, looking to refute UWM's arguments regarding the status of its financing for the all-cash offer.

The top bullet point in Two Harbors' rejection notice is the Mizuho credit facility does not constitute committed financing for UWM to pay for the deal.

UWM Holdings is now bidding 70 cents more per share than CrossCountry for Two Harbors, with an all-cash option as an alternative to its all-stock proposal.

One-time Rocket exec Mike Fawaz founded brokerage and tech firm Origna8 with his former adversary's backing, which both say will enable it to quickly scale.

Using a non-GAAP measurement, the real estate investment trust, preparing to be bought by CrossCountry, reported a $25 million loss for the first quarter.

CrossCountry increased its agreed-to offer for the real estate investment trust by 50 cents per share, as UWM Holdings made an unsolicited bid on April 20.

The latest statement from UWM cited TWO's settlement with its former external manager and declared its management team to be driven by ego, not sound judgement.

The real estate investment trust declared an all-cash offer of $10.80 per share from CrossCountry superior to the fixed stock exchange ratio bid from UWM.

The delay in its shareholder meeting to approve the sale to UWM Holdings put Two Harbors back in play, and an undisclosed buyer has stepped up with a new offer.