UWM called Two Harbors a "melting ice cube" in a statement shared after the REIT announced it will move forward with an acquisition bid from CrossCountry Mortgage.
As part of the agreement, CrossCountry paid $25.4 million to United Wholesale Mortgage, a termination fee to end the acquisition agreement UWM had with Two Harbors.
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.