UWMC Stock Recent News

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.

Stocks reacted positively on Wednesday as annual consumer inflation fell to 3% in June, down from May's 4% reading and below estimates of 3.1%. The annual rate of inflation dropped for 12 consecutive months, reaching its lowest point since March 2021.

The broker business is better suited for a purchase-driven environment. United Wholesale's dividend is no sure thing.

UWM Holdings Corporation (NYSE:UWMC ) Q1 2023 Earnings Conference Call May 10, 2023 10:30 AM ET Company Participants Blake Kolo - Chief Business Officer & Head of IR Mat Ishbia - Chairman & CEO Andrew Hubacker - CFO Conference Call Participants Kyle Joseph - Jefferies Steve Delaney - JMP securities Bose George - KBW Blake Netter - Morgan Stanley Eric Hagen - BTIG Doug Harter - Credit Suisse Michael K. - Wells Fargo Mike Smith - KBW Operator Good morning.

Investors who've held bank stocks have been on a roller coaster since last month, especially with certain banks such as the Silicon Valley Bank (OTCMKTS: SIVBQ ) and Silvergate Capital (NYSE: SI ). However, big banks and their stocks haven't been spared the pain either.

The mortgage business is going through trough earnings. Expected earnings per share this year won't cover UWM's dividend.

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UWM Holdings Corporation (UWMC) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

UWM Holdings Corporation is a top mortgage lender in the U.S. in terms of production volume and is constantly growing its market share. UWM Holdings registered a $284.1 million increase in the fair value of its mortgage service rights.