There are indications that some Two Harbors shareholders will oppose the planned acquisition by United Wholesale Mortgage because it’s an all-stock deal and UWM’s stock is trading near the lowest level it’s been at since UWM became a publicly traded company in early 2021.
The market’s response to the attacks is in line with its recent divergence from historical reactions to outside stressors, said Andrew Rhodes, head of trading at Mortgage Capital Trading.
UWM is projecting revenue of between $800 million and $900 million for the first quarter of 2025, rather than the forecast of between $650 million and $850 million in revenue offered less than two weeks earlier.