USDA gives lenders more authority on rural housing loans

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1. Two Harbors dumps UWM, takes CrossCountry's all-cash offer

Two Harbors has walked away from its merger with UWM and agreed to be acquired by CrossCountry Mortgage for $10.80 per share in cash — valuing the deal at roughly $1.13 billion. CCM will also cover the $25.4 million termination fee owed to UWM.

UWM is not happy. The wholesale giant called the decision ego-driven, said its stock offer was superior in value, and hinted that legal action may be coming — saying "the full context will be made public in due course, allowing both shareholders and the courts to evaluate the facts."

For CCM, the deal adds Two Harbors' capital markets platform and RoundPoint's servicing infrastructure, potentially vaulting it to the eighth-largest U.S. mortgage servicer by owned portfolio. The transaction is expected to close in the second half of 2026.

2. USDA gives lenders more authority on rural housing loans

The USDA is allowing qualified lenders to approve and close guaranteed rural housing loans without waiting for agency sign-off — bringing its process in line with how HUD and VA programs already work.

The agency also launched a self-service borrower portal, My RD Loan Portal, giving direct loan borrowers 24/7 access to account info and payments.

Eligibility standards and program rules aren't changing — this is strictly a process overhaul aimed at faster closings and less back-and-forth with the agency.

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4. Seller-buyer gap hits record high

There are now 46% more sellers than buyers in the U.S. housing market — a gap of 630,000, the largest in Redfin's records going back to 2013. That's up 30% from a year ago, and buyers have technically held the advantage since May 2024.

The problem: affordability is keeping buyers on the sidelines. Mortgage rates have climbed to their highest since October, mortgage application volume dropped 10.5% last week, and canceled contracts hit a record 13.7% of homes under contract in February.

The worst imbalances are in Sun Belt cities that overbuilt during the pandemic boom — Miami tops the list with sellers outnumbering buyers by 163%, followed by Nashville, Austin, West Palm Beach, and San Antonio.

5. HomeServices rolls out Maestro, a unified tech platform for agents

HomeServices of America has launched Maestro, a platform that consolidates consumer search, CRM, marketing, and transaction management into one system for agents across its network, including Berkshire Hathaway HomeServices franchises.

The move is aimed at cutting down on the patchwork of separate tools agents currently juggle. CEO Chris Kelly said the goal is to reduce administrative friction so agents spend more time with clients.

HomeServices owns the brokerage, mortgage, title, and insurance pieces — Maestro is the company's attempt to tie those together into a single workflow for its agents.

☀️ You’re all caught up. See you on Wednesday!

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