Proceeds from the debt offering will be used to repay a portion of the amounts outstanding under CCM’s mortgage servicing rights line of credit, which CCM drew on for its planned acquisition of Two Harbors.

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.

CrossCountry Mortgage's latest deal is comprised of closed-end seconds from Button Finance and CCM.

Overall residential servicing outstanding inched up by 0.8% during the second quarter.

Profits declined by 22.8% from the first to the second quarter.

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.

Onity took a $9 million pre-tax net loss related to sales of reverse mortgages and legacy subservicing transfers, and a $24 million pre-tax net loss tied to unfavorable asset fair value changes.

UWM's originations declined by 11.7% on a quarterly basis in the second quarter as refinance activity dropped.

FHA loss-mitigation removals more than doubled from $1.86 billion in the first quarter to $4.74 billion.