Brandon Ivey

The July employment data might provide “a little breathing room” for the Fed as it considers its next policy move, according to Joel Kan, a vice president and deputy chief economist at the Mortgage Bankers Association.

Overall residential servicing outstanding inched up by 0.8% during the second quarter.

The rating service is treating the $1.65 billion of equity provided by Oaktree Capital Management and the Ishbia family as debt for UWM rather than as equity.

UWM alleges that Two Harbors’ management “embarked on a stealth mission of subversion, calculated inaction and outright lies designed to kill the UWM merger.”

The REIT sees more relative value in home equity loans than in other asset classes.

Proceeds from the debt offering will be used to repay a portion of the amounts outstanding under CCM’s mortgage servicing rights line of credit, which CCM drew on for its planned acquisition of Two Harbors.

Two Harbors counters that UWM’s attempted acquisition of Two Harbors failed because UWM’s effort failed to win approval from Two Harbors’ shareholders.

A group of 26 banks reported $1.27 billion in mortgage earnings for the second quarter, up 3.8% from the first quarter.

The second-quarter results included big increases in revenue from ecosystem and technology fees and gains on servicing.

Better’s board responded with a statement suggesting that Garg may have violated securities laws.