UWMC Urges Two Harbors Shareholders to Reject CrossCountry Merger

In a move reflecting intensifying competition within the mortgage finance sector, UWM Holdings Corporation (UWMC) has reaffirmed its commitment to acquiring Two Harbors Investment Corp. UWMC formally urged stockholders to vote against the proposed merger between Two Harbors and CrossCountry Mortgage, positioning its interest as a superior alternative for value maximization. The special meeting to vote on the transaction is now scheduled for June 23, following three prior adjournments.

This proxy battle unfolds amid a complex backdrop for the U.S. housing market; per market data, the MBA 30-year mortgage rate held steady at 6.6% as of June 17, while housing starts saw a sharp 15.4% decline in the most recent monthly report. Companies are increasingly looking toward strategic M&A to consolidate market share as financing costs remain elevated, making the acquisition of investment portfolios like those held by Two Harbors a key tactical objective for industry leaders.

Traders should monitor current price levels, with TWO closing at $12.32 and UWMC at $2.22 (close June 18, 2026). The upcoming shareholder meeting on June 23 serves as the primary catalyst for both instruments. Additionally, watch for any further management statements or revised bids prior to the vote, as volatility in housing sector data could influence the final sentiment of institutional voters.