Skip to content
Subscriber Only

United Wholesale Mortgage Plunges Despite 822% Profit Jump

  • Shares sink as much as 10% on margin concerns for quarter
  • Firm debuted in public trading recently after SPAC merger
U.S. Existing-Home Sales Surged In July By Most On Record
Photographer: Bing Guan/Bloomberg
Updated on

UWM Holdings Corp., one of the nation’s largest mortgage lenders, reported $1.4 billion in net income as the newly public company capped its most profitable year ever.

Still, the 822% profit surge wasn’t enough to satisfy investors, with the company’s shares dipping as much as 10% to $10.20 on Thursday in New York.