secwatch.observer — SEC 8-K summary
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Issuer:     UWM Holdings Corp (UWMC)
CIK:        0001783398
Form:       8-K
Filed at:   2023-03-22T23:59:59+00:00
Accession:  0001783398-23-000015
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UWM obtains $500M GNMA MSR credit facility with Goldman Sachs, maturing March 2025
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- UWM entered $500M uncommitted credit facility to finance GNMA mortgage servicing rights; Goldman Sachs is administrative agent.
- Interest at 1-month SOFR or Alternate Rate plus margin; full repayment due March 20, 2025.
- Borrowing base based on market value of GNMA MSRs; availability period ends March 20, 2024.
- Financial covenants: max debt/tangible net worth, min liquidity, min tangible net worth, min quarterly net income.
- Negative covenants restrict dividends and distributions if a default exists or would result.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1783398/000178339823000015/0001783398-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1783398/000178339823000015/xbrl-20230320.htm
  HTML page:      https://secwatch.observer/filing/0001783398-23-000015

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