A coalition of consumer and housing advocacy organizations is urging the Consumer Financial Protection Bureau (CFPB) to preserve key mortgage borrower protections, warning that proposed changes to federal lending rules could leave consumers vulnerable to predatory practices and unaffordable loans. The National Consumer Law Center, National Housing Law Project, National Fair Housing Alliance, Americans for […]

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