UWM delivers reduced production, improved margins in 2023 [Yahoo! Finance]
UWM Holdings Corporation Class A (UWMC)
Company Research
Source: Yahoo! Finance
It was not enough to make its parent company UWM Holdings Corp. financially profitable, which the company attributed to mortgage servicing rights markdowns. The Pontiac, Michigan-based lender announced a non-GAAP adjusted net loss of $57.1 million in 2023, compared to a profit of $719.4 million in the previous year. The GAAP net loss in 2023 was $69.7 million, inclusive of a $854.1 million decline in fair value of MSRs, per documents filed with the Securities and Exchange Commission (SEC) on Wednesday. In the last quarter of the year, the adjusted net loss was $361 million, compared to a gain of $234.7 million in the previous quarter . The GAAP net loss was $460.9 million, including a $634.4 million decline in fair value of MSRs. “We continue to be operationally profitable, the true measure of a mortgage originator's health, while our financial loss was driven by the MSR markdown which is a result of interest rate movements,” Mat Ishbia, chairman and CEO, said in a statement.
Show less
Read more
Impact Snapshot
Event Time:
UWMC
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
UWMC alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
UWMC alerts
High impacting UWM Holdings Corporation Class A news events
Weekly update
A roundup of the hottest topics
UWMC
News
- Levi & Korsinsky Reminds UWM Holdings Corporation Investors of the Ongoing Investigation into Potential Violations of Securities Laws - UWMCAccesswire
- UWM Holdings Corporation (UWMC) Reports Next Week: Wall Street Expects Earnings Growth [Yahoo! Finance]Yahoo! Finance
- UWM Holdings Corporation Announces Q1 2024 Earnings Conference CallBusiness Wire
- UWMC ACTIVE INVESTIGATION: Contact Levi & Korsinsky if you Lost Money on your UWM Holdings Corporation InvestmentAccesswire
- UWMC ALERT- Levi & Korsinsky Has Commenced an Investigation on Behalf of UWM Holdings Corporation Shareholders Who Lost MoneyAccesswire
UWMC
Earnings
- 2/28/24 - Miss
UWMC
Analyst Actions
- 4/9/24 - Keefe, Bruyette & Woods
UWMC
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- UWMC's page on the SEC website