CrossCountry Mortgage (CCM) is pushing back on UWM Holdings Corporation‘s rival bid for Two Harbors Investment Corp., telling stockholders that only its signed, fully financed all-cash deal offers a certain path to value.

CCM said it now has $3.4 billion of committed financing in place to close the transaction — a $2 billion secured facility plus a new $1.4 billion unsecured commitment from Citi — which it says is sufficient to pay $11.30 in cash for each Two Harbors share at closing.

Cleveland-based CCM, on Tuesday, in response to letters UWM sent to Two Harbors stockholders on April 30 and May details ⇒

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