The pledged stock, which Ishbia holds through SFS Holding Corp., was worth roughly $4.6 billion.
Records show that JPMorgan Chase & Co. was the lender on both loans. The amounts borrowed have not been made public.
-
MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
Estimated reading time: 0 minutes, 23 seconds
Ishbia Pledged Most of UWM’s Outstanding Shares to Buy Suns
Mat Ishbia, chairman and CEO of UWM Holdings Corp., promised more than half of the mortgage giant’s outstanding shares to secure two loans before his record $4 billion purchase of the NBA’s Phoenix Suns. So reports Bloomberg.
MOST READ STORIES
Fast,Easy & Free
