After ringing the bell of the New York Stock Exchange on Friday morning, Mat Ishbia’s United Wholesale Mortgage (UWM) is a publicly traded company.

UWM, the second-largest mortgage originator in America, debuted trading at $11.95. By 10:45 a.m. EST, it was trading at $11.65.

UWM’s entrance to the public markets caps a wild six months for independent mortgage banks across America, in which a dozen large or mid-sized mortgage firms revealed plans to go public.

In many cases, the private equity backers of these firms details ⇒

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