UWM Holdings Corp. is facing a securities fraud investigation and fresh cuts on Wall Street after reporting a loss for the second quarter and a $2.05 billion capital raise. UWM reported that a hedge established around its attempted acquisition of Two Harbors Investment Corp.’s mortgage servicing rights portfolio produced a $603.2 million derivatives loss. This contributed to a […]

United Wholesale Mortgage (UWM) filed a lawsuit on Monday that accuses Two Harbors Investment Corp. (TWO) of willfully breaching its merger agreement and committing fraud while pursuing a competing deal with CrossCountry Mortgage (CCM). UWM alleges TWO’s leadership deliberately undermined the stockholder process for UWM’s transaction, including by sabotaging the March 16 meeting scheduled to

Following a strong second-quarter earnings report, analysts at Keefe, Bruyette & Woods (KBW) released a positive forecast for Ellington Financial and its reverse mortgage subsidiary, Longbridge Financial. In a note to investors published over the weekend, KBW said that it was “moderately raising” its guidance for Ellington’s earnings per share (EPS) to $2.12 by the