Retirees are experiencing a disconnect between net worth, cash on hand
Prosperity is far from evenly distributed, and many older Americans are carrying significant debt into retirement
Debt
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CCM to issue $500M in senior notes as Two Harbors deal nears closing
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 downgraded by Fitch after Q2 loss, Oaktree deal
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.
Home equity emerges as a generational growth strategy for originators
Deephaven’s Tom Davis explains why home equity lending is a generational opportunity and how originators can drive borrower retention and growth.
Onity Group raises $200M in debt, reports strong estimated Q4 earnings
Onity Group raised $200 million in debt, surpassing its $150 million target, and estimates Q4 net income of $107 million to $131 million.
Rocket pushes back debt exchange deadline amid Mr. Cooper deal
Rocket Companies has extended the deadline for investors to exchange debt issued by a Mr. Cooper Group subsidiary for the lender’s own paper — a step tied to its $9.4 billion acquisition of the competitor.
Rent collections improve slightly, but late payments signal strain
Compared with August 2024, the on-time payment rate is down 216 basis points. That marks the 25th consecutive month of annual declines.
TransUnion: Mortgage, home equity lending grow despite high rates
Rate-and-term refinances climbed 44% and cash-out refis increased 15%. Home equity originations had their strongest annual growth since 2022.
Figure expands Intellidebt offerings for debt consolidation
Since the launch of Intellidebt, 6,000 Figure customers have raised their FICO scores by an average of 27 points within a month.
FHA seeks input on buy now, pay later lending
The Federal Housing Administration (FHA) has opened a request for information on buy now, pay later (BNPL) lending as it seeks to understand its implications for housing affordability and stability.