The parent company of United Wholesale Mortgage reported $860 million in net income during the first quarter of 2021, but there are clear signs that the going has already gotten tough.

In total, UWM originated $49.1 billion in closed loan volume in the first quarter, down from the $54.7 billion in the fourth quarter (but up from the $42.4 billion in originations a year ago). It also fell short of the $52 billion to $57 billion it had forecast in February.

According to the wholesale giant‘s quarterly earning statement, UWM posted a details ⇒

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