United Holding Corp., the parent company of United Wholesale Mortgage (UWM), has struck an all-stock deal to acquire real estate investment trust Two Harbors Investment Corp. for $1.3 billion.

The transaction, announced Wednesday, will nearly double UWM’s servicing book while expanding its capabilities, creating the eighth-largest U.S. mortgage servicer, according to company estimates. Two Harbors is an MSR-focused REIT and a top servicer of conventional loans through its RoundPoint Mortgage Servicing platform.

UWM decided this year to bring servicing in-house, following the acquisition of Mr. Cooper Group by its main rival, Rocket Companies. Lenders across the industry are details ⇒

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