CrossCountry Intermediate Holdco (CCM) is expected to issue $500 million of senior unsecured notes, coinciding with the projected August closing of its Two Harbors Investment Corp. acquisition.
UWM Holdings Corp. is facing a securities fraud investigation and fresh cuts on Wall Street after reporting a loss for the second quarter and a $2.05 billion capital raise.
Fitch Ratings downgraded the long-term issuer default ratings of United Wholesale Mortgage (UWM) to B+ from BB-, citing a sharp increase in leverage driven by second-quarter losses and higher borrowings.