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UWM Plans Up To $80B MSR Sale To Pay Down Debt
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UWM Plans Up To $80B MSR Sale To Pay Down Debt
United Wholesale Mortgage plans to sell servicing rights tied to $70 to $80 billion in mortgages during the fourth quarter, turning a substantial portion of its servicing portfolio into cash for debt repayment.UWM Holdings disclosed the planned sales Friday, Oct. 23, alongside preliminary third-quarter results. It expects proceeds exceeding $1.8 billion and said that money, together with $400 million in anticipated gross proceeds from its rights…
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