Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
UWM Holdings Corp incurred credit facility of $500 million with Goldman Sachs Bank USA (as administrative agent) at one-month secured overnight financing rate or the Alternate Rate (as defined in maturing March 20, 2025.
- Instrument
- credit facility
- Principal
- $500 million
- Counterparty
- Goldman Sachs Bank USA (as administrative agent)
- Rate
- one-month secured overnight financing rate or the Alternate Rate (as defined in
- Maturity
- March 20, 2025
- Event
- incurrence
Exact text from the filing
On March 20, 2023, United Wholesale Mortgage, LLC (“UWM”), an indirect subsidiary of UWM Holdings Corporation (the “Company”), entered into the Credit Agreement (the “MSR Credit Agreement”), as borrower, with Goldman Sachs Bank USA, as administrative agent (the “Agent”), and the lender parties from time to time parties thereto (the “Lenders”), providing UWM with, up to, a $500 million facility to finance the origination, acquisition or holding of certain mortgage servicing rights (the “GNMA MSR Facility”). The GNMA MSR Facility is collateralized by all mortgage servicing rights owned by UWM that are appurtenant to mortgage loans pooled in securitization by Government National Mortgage Association that meet the criteria set forth in the MSR Credit Agreement. Availability under the GNMA MSR Facility is calculated based on the market value of the collateral. The GNMA MSR Facility is uncommitted. Interest on outstanding borrowings under the GNMA MSR Facility will accrue at the one-month se
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
UWM Holdings Corp entered into MSR Credit Agreement with Goldman Sachs Bank USA valued at $500 million (effective 2023-03-20).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Goldman Sachs Bank USA
- Value
- $500 million
- Effective
- 2023-03-20
Exact text from the filing
On March 20, 2023, United Wholesale Mortgage, LLC (“UWM”), an indirect subsidiary of UWM Holdings Corporation (the “Company”), entered into the Credit Agreement (the “MSR Credit Agreement”), as borrower, with Goldman Sachs Bank USA, as administrative agent (the “Agent”), and the lender parties from time to time parties thereto (the “Lenders”), providing UWM with, up to, a $500 million facility to finance the origination, acquisition or holding of certain mortgage servicing rights (the “GNMA MSR Facility”).
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