PulteGroup's mortgage unit has entered into a master repurchase agreement to finance the origination of mortgage loans by Pulte Mortgage. The agreement provides for a maximum aggregate commitment of $625 million and expires on August 10, 2027, or earlier if buyers' commitments are terminated. Truist Bank is acting as agent for buyers, and each buyer agrees to make revolving purchases of eligible loans up to the maximum aggregate purchase price. Truist is also a buyer and a swing line facility buyer. PulteGroup stock rose 0.3% in after-hours trading.
PulteGroup IncPulteGroup's mortgage unit secures $625M repurchase agreement to finance loan originations, supporting its mortgage business.
Truist Financial CorpTruist Bank acts as agent and buyer in the repurchase agreement, generating fee income and business.
