Ahead of a shareholder vote, the Two Harbors board of directors has reaffirmed its positive stance on CrossCountry's proposed merger.

A Michigan court held United Wholesale Mortgage in civil contempt and ordered the company to present its CEO for a deposition as part of an ongoing lawsuit regarding the company’s “all-in” initiative.

Two Harbors disclosed today that it discussed options with UWM CEO Mat Ishbia during a Zoom call on Thursday. However, no new offer was submitted ahead of the Friday deadline.

More than two-thirds of the largest GSE sellers saw a sequential decline in deliveries in May, with refi business slowing. But overall volume for the first five months of the year was up 35.7%. (Includes two data tables.)

Lenders responsible for the majority of conventional mortgage originations are currently using VantageScore in some fashion, but it’s still not clear how they deal with differences between VS4 and classic FICO.

Two Harbors seeks cash-only offer from UWM; Capital One executive nominated for director of CFPB; SPS settles servicing issues with California; First Federal selling third-party origination business to Mortgage Forward; Sunflower Bank and OceanFirst sell multifamily assets.

UWM has until Friday to engage in discussions with the Two Harbors board of directors on a revised acquisition bid.

Industry analysts believe that the bidding war for Two Harbors Investment could inflate future acquisition prices for servicers.

The second postponement of the shareholder vote on CrossCountry’s acquisition offer signals that the bid needs to be higher.

A senior executive at the mortgage giant provides a rare glimpse into the how the new credit score impacts lender operations.