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.
“Agency MBS investors continue to express a desire for additional loan-level data,” SFA wrote to FHFA regarding disclosures of credit scores used for originating mortgages.
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.
UWM said it will use the capital infusion for “balance sheet fortification,” including repayment of existing debt and repayment of financing facilities for mortgage servicing rights.