New York-based Rithm Capital Corp., the parent of multichannel mortgage lender Newrez, on Tuesday priced a $500 million offering of senior unsecured notes due in 2031, marking another step to strengthen its balance sheet following a string of recent acquisitions. Offered exclusively to qualified institutional buyers, the notes carry an 8.5% coupon and are expected…
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Two Harbors Investment Corp.’s board unanimously rejected a revised unsolicited acquisition proposal from UWM Holdings Corp, maintaining its recommendation that shareholders approve the company’s pending sale to CrossCountry Mortgage, LLC. In a letter on Wednesday, the New York-based, MSR-focused REIT called the UWM proposal “illusory, predatory and unactionable.” UWM is offering $12.50 per share, with no cap or…
The walkable, creative enclave also has a rapidly growing residential footprint.
Mortgage applications increased 1.7% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending May 8. On an unadjusted basis, the index increased 2% compared with the previous week. The refinance index decreased 1% from the previous week and was 28% higher than the…