General World News

UWM’s profits grow in Q3 as margins improve, volumes decline

UWM Holdings Corporation, the parent of United Wholesale Mortgage (UWM), produced lower mortgage origination volume in the third quarter of 2023 than the previous quarter – and more declines are expected to come. But volumes in Q3 came in at higher margins, close to the levels seen prior to the company’s Game-on pricing initiative that squeezed competitors out of the wholesale space. 

That’s one of the reasons UWM was able to deliver its second consecutive quarterly profit, and it was boosted by positive performance in its servicing portfolio, according to documents filed with the Securities and Exchange Commission (SEC) on Wednesday. 

The Pontiac, Michigan-based details ⇒

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