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United Wholesale Mortgage Turns $435M Profit in Q1

Monday, May 16 2022
Lending
Written by  The Mortgage Leader

United Wholesale Mortgage has posted net income of $453 million for the first quarter, down from $860 million during the same period last year. So reports the Detroit Free Press.

UWM 150x150Mortgage business volume fell 26% to $38.8 billion as interest rates surged.

UWM CEO Mat Ishbia said in a news release, “This quarter, we demonstrated that our business can continue to be profitable in significantly different market conditions than what we've seen over the past two years.”

Read the full article from the Detroit Free Press. 

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