UWM HoldingsNYSE: UWMC

NEW YORK, NY / ACCESSWIRE / May 20, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of UWM Holdings Corporation ("UWM Holdings Corporation") (NYSE:UWMC) concerning possible violations of federal securities laws. Hunterbrook Media published a report on April 2, 2024, alleging, among other things, that UWM gets almost all its business "from brokers who sent UWM more than 99% of their business" rather than shopping mortgages to competing lenders, causing borrowers to pay UWM "between hundreds of millions and billions more in closing costs than people whose brokers found them typical loans.

Levi & Korsinsky has started investigating UWM Holdings Corporation for potential violations of federal securities laws following a report by Hunterbrook Media on April 2, 2024. The report claimed that UWM primarily receives business from brokers who send them the majority of their business, resulting in higher closing costs for borrowers compared to those who are offered loans from other lenders.

While the top- and bottom-line numbers for UWM Holdings Corporation (UWMC) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

UWM Holdings doubled its share price in 2023 despite Federal Reserve rate hikes, driven by increased loan volumes and operational efficiency gains. The company dominated the industry with a $29.7 billion overall production and an increase of 97 basis points in total gain margin, showcasing resilience amid high interest rate environment. UWM is positioned better than it ever has been to take advantage of the refinance cycle in 2024 when rate cuts set in.

Mat Ishbia, CEO of United Wholesale Mortgage, joins 'Closing Bell: Overtime' to discuss the outlook for mortgage rates, the impact of inflation on the housing market next year, and more.

United Wholesale Mortgage is the #1 direct and wholesale Mortgage Lender in the USA with a dominant market share. The company has shown impressive growth in market share, maintained control over its headcount, and increased profit margins. Numerous economic risks and a dividend dilemma are driving me to hold this stock, for now.

UWM Holdings Corporation (UWMC) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.10 per share a year ago.

PONTIAC, Mich.--(BUSINESS WIRE)--UWM Holdings Corporation (NYSE:UWMC), the publicly traded indirect parent of United Wholesale Mortgage (UWM), #1 overall mortgage lender, wholesale and purchase mortgage lender in the U.S., will announce its second quarter 2023 financial results on Wednesday, August 9, 2023. A press release with financial highlights will be available on the company's investor relations website https://investors.uwm.com in the earnings release section. UWM will host a conference.

UWM Holdings Corporation reported a strong Q1 2023 performance with mortgage loan production volume of $22.3 billion and a gain margin increase from 51 basis points in Q4 to 92 basis points in Q1. Despite a net loss of $139 million due to a $337 million markdown affecting their Mortgage Servicing Rights portfolio, UWM maintained operational profitability and increased liquidity reserves to an estimated $2.9 billion. The company's future performance is sensitive to interest rate changes and operational challenges, which could impact profitability and asset valuations.