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Ishbia’s Mortgage Bid Falls Through | Real Estate News
Mat Ishbia’s bid to buy Two Harbors fizzled as shareholders chose CrossCountry’s all-cash $12/share offer over UWM’s higher but conditional $12.50 bid, ending a fierce bidding war and handing CrossCountry a lucrative mortgage servicing portfolio. The drama began when UWM’s stock slump devalued the original deal, prompting Two Harbors to reopen talks — and fueling accusations of board missteps, even a shareholder lawsuit. Though UWM insists its proposal was superior, the move underscores Ishbia’s strategic push to secure stable servicing revenue amid a shaky mortgage market. Listen in…
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