The Latest Breaking News from UWM

United Wholesale Mortgage announced a 0% down program last month, and since then it’s been all the rage, but people are split: Does it eliminate a barrier or will it launch us into another subprime mortgage crisis?

Professor Jonathan Adams said the zero-down loan program has “all the features that made subprime bad.”

United Wholesale Mortgage Holdings Corp. on Tuesday said net income dropped 47% year-over-year in the first three months of 2022 as interest rates increased and housing inventory remains constrained.

Compared to other sectors of the wider economy, the housing and mortgage industries have traditionally been slower to embrace cutting-edge technologies and digital solutions. A myriad of reasons explain this pokey response to evolving change, ranging from the sector’s conservative risk tolerance to a lack of standardization in many evolving technologies.

United Wholesale Mortgage Holdings Corp. — the publicly traded parent of wholesale lender UWM — on Tuesday reported a profit of $1.6 billion for 2021, down more than 53% from 2020's roughly $3.4 billion.

Amid currently volatile market conditions due to inflation concerns and anticipated interest rate hikes, we think it could be wise to bet on high-dividend-yielding stocks UWM (UWMC), Global Net (GNL), and loanDepot (LDI) to ensure a steady portfolio income stream. Wall Street analysts expect these below-$15 stocks to deliver solid…