Due to accounting rules, earnings from the loans locked during the third quarter of 2025 were recognized in the third quarter rather than the fourth quarter.
Seneca owned mortgage servicing rights with an unpaid principal balance of $42.31 billion as of the end of December, according to estimates by Inside Mortgage Finance.
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.
Recent inflation trends along with the strong jobs report for January “suggest the lower likelihood of a rate cut” at the next Federal Open Market Committee meeting, according to Joel Kan, a vice president and deputy chief economist at the Mortgage Bankers Association.