NEW: America's largest mortgage lender made a giant $27.5 billion bet that interest rates would go down.
The bet failed. Last week $UWMC suspended its dividend and signed an emergency rescue with the distressed situations desk at Oaktree.
NEW with @PabloTorre: Magic Johnson’s life insurer backed a Magic Johnson investment fund—and a Dodgers TV company. The insurer, EquiTrust, reported both as “unaffiliated.” Now its new parent is tied to a federal probe into Mark Walter’s empire.
Exclusive: Just months before joining the Los Angeles Lakers, a limited liability company James controls borrowed almost $300 million from a pair of Midwestern life insurers advised by an arm of Guggenheim. bloomberg.com/news/articles/…
BREAKING: Google is the unnamed hyperscaler behind Modine’s new $4 billion agreement.
$MOD also has billions in demand across Amazon, Crusoe, and others.
Crazy scoop from a codebase that, somehow, ended up on the internet.