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UBS Plans to Shutter Business in U.S. Mortgage-Trading Unit

Sunday, Jun 04 2023
Lending
Written by  The Mortgage Leader

UBS has been preparing to close the “to-be-announced” trading business, which involves forward sales of mortgage-backed securities, within its U.S. mortgage unit. So reports Bloomberg.

UBSThe decision comes amid a strategic shift toward financing mortgage originators, a source with knowledge of the matter reportedly said.

A UBS spokesperson told the news service, “We are fully committed to our lending business, which supports independent mortgage originators.”

Read the full article from Bloomberg.

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