Goldman Sachs expects UWM to sell Two Harbors’ MBS portfolio once its planned acquisition of the real estate investment trust is complete.

Kroll Bond Rating Agency said United Wholesale Mortgage’s acquisition of Two Harbors will expedite UWM’s move to in-house servicing.

Mr. Cooper announces layoffs following merger; KBRA believes UWM and Two Harbors deal will be strategically favorable; Investor increasing land purchases for areas impacted by California wildfires; Flushing Financial to merge with OceanFirst Financial.

Correspondents upped their share significantly in the government-insured market, while brokers took a bigger bite of nonconforming lending.

UWM, Rocket and Pennymac all sold fewer mortgages to the GSEs in November than in October. That contributed to a 1.3% monthly decline in GSE MBS issuance. (Includes two data tables.)

Several large lenders are offering discounts and promotions to drum up business during a slow time of the year.

Refis totaled $22.84 billion in October, the highest volume since June 2022 and 31.7% of all GSE deliveries for the month. (Includes two data tables.)

Pennymac was the top issuer of prime non-agency MBS in the third quarter.

The wholesale lender was released from all RICO charges, but must still face certain RESPA allegations.

While market share of small- and mid-sized nonbank lenders grew, there was some leakage at the large nonbank lenders. Large mortgage companies’ market share fell sequentially to 53.8% from 56.1%. (Includes two data tables.)