"UWM closed $44.9 billion in mortgages in the first quarter, up 38.5% from the same period last year but 9.5% lower than the prior quarter. Despite the dip in quarter-over-quarter volume, the company's bottom line improved."
"In a statement, UWM Chairman and CEO Mat Ishbia said the quarter was the second-best of all time for the company. The last time we delivered results of this magnitude, interest rates were nearly 50% lower."
"Ishbia framed recent competing bids from CCM as an effort by Two Harbors' management and board to preserve their positions, emphasizing that UWM's acquisition proposal is focused on the value of the REIT's pristine servicing book."
United Wholesale Mortgage (UWM) reported a net income of $170.4 million in Q1, with revenue at $901 million and $44.9 billion in mortgage originations. This represents a 9.5% decrease from the previous quarter but a significant improvement from a loss of $247 million in the same quarter last year. UWM is focusing on acquiring Two Harbors Investment Corp. and plans to bring servicing fully in-house by October 2026. The company’s performance remains strong despite the cooling origination engine compared to prior quarters.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]