United Wholesale Mortgage (UWM) saw its origination engine cool in the first quarter compared to the previous three months, but the lender held the line on margins and remained profitable. Meanwhile, on the servicing strategy, UWM is steadily pulling more of its portfolio in-house as it battles CrossCountry Mortgage to acquire Two Harbors Investment Corp.

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. Net income reached $170.4 million in the first quarter, up from details ⇒

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