General World News

UWM is profitable in Q2 as origination volume jumps to $32B

UWM Holdings Corporation, the parent of United Wholesale Mortgage (UWM), was another mortgage lender that returned to profitability in the second quarter of 2023, just like its primary competitor Rocket Companies and the origination segments of Mr. Cooper and Pennymac

UWM’s performance was boosted by an increase in the fair value of mortgage servicing rights (MSRs) and higher origination volumes, despite lower margins from April to June, per documents filed with the Securities and Exchange Commission (SEC) on Wednesday. 

The Pontiac, Michigan-based lender announced a non-GAAP adjusted net income of $175.9 details ⇒

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