UWM first made an unsolicited bid for Two Harbors in December 2024. Three other companies subsequently made formal bids for Two Harbors, with UWM prevailing in December 2025.

Rithm puts off potential spin-off of Newrez; Robinhood partners with Sage Home Loans for mortgage perks; AngelAi touts valuation; Bilt to allow mortgage payments via Venmo; PartnerOne to acquire Mortgage Cadence.

Merger and acquisition activity is expected to rise as more lenders attempt to reach economies of scale.