December 18, 2025

United Holding Corp., the parent company of United Wholesale Mortgage (“UWM”), announced an all-stock agreement to acquire mortgage servicing-focused REIT Two Harbors Investment Corp. (“Two Harbors”) for approximately $1.3 billion. The transaction provides UWM with approximately $176 billion in unpaid principal balance of mortgage servicing rights through Two Harbors’ RoundPoint Mortgage Servicing platform. This move also nearly doubles UWM’s servicing portfolio to an estimated $400 billion, according to company statements. The acquisition expands UWM’s servicing footprint, advances its stated strategy to bring servicing operations in-house, and positions the company among the largest mortgage servicers in the United States.

UWM estimates the transaction will generate approximately $150 million in annual cost and revenue synergies related to servicing scale, financing, and capital markets execution. The deal remains subject to Two Harbors shareholder approval, regulatory review, and customary closing conditions, with closing anticipated in the second quarter of 2026.

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