Na UWM Holdings byla podána hromadná žaloba kvůli údajnému podvodu s cennými papíry a dalším nezákonným praktikám. Firma zároveň oznámila za 2. čtvrtletí ztrátu 451,9 mil. USD a akcie po zprávě spadly o 34,78 % na 1,20 USD.
NEW YORK, Sept. 08, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against UWM Holdings Corporation (“UWM” or the “Company”) (NYSE: UWMC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether UWM and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until October 13, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired UWM securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
In December 2025, UWM and Two Harbors Investment Corp. (“Two Harbors”) (owner of RoundPoint Mortgage Servicing) signed an all-stock merger agreement valued at $1.3 billion to expand UWM's mortgage servicing rights (MSRs). However, in March 2026, Two Harbors terminated the UWM agreement after CrossCountry Mortgage stepped in with a competing cash offer and agreed to pay UWM's termination fee. UWM aggressively countered by raising its proposals, but Two Harbors' board repeatedly rebuffed these advances, leading to a brief mandated negotiation waiver period in June 2026 that expired without a new deal. On August 5, 2026, after the market closed, UWM reported second quarter fiscal year 2026 financial results, including a $603.2 million interest rate derivatives loss which contributed to a $451.9 million second-quarter net loss. Total equity also fell 43.6% year over year, reflecting the net loss and derivative-related charges. Then, on August 6, 2026, at 10:30 AM EDT, the Company held an earnings call in connection with its second quarter 2026 financial results. During that call, Chief Executive Officer Mathew Ishbia (“Ishbia”) disclosed “We were over-hedged, if you think of it that way, protecting against the Two Harbors transaction.” Ishbia further stated “[w]e don't traditionally hedge our MSRs [Mortgage Servicing Rights]” but “when you're going through and acquiring a company like Two Harbors and a massive MSR book . . . it created a little more risk. So . . . we did put a hedge on to protect against that risk and then a lot of things happen[ed] . . . and then obviously, the Two Harbors transaction went away. And so a confluence of events that created a hedge loss.”
On this news, UWM’s stock price fell $0.64 per share, or 34.78%, to close at $1.20 per share on August 6, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Akcie UWM Holdings v srpnu klesly o více než 20 % po slabém druhém čtvrtletí a oznámení kapitálového financování v objemu 1,65 miliardy USD, které vyvolalo obavy z ředění akcií. Společnost zároveň pozastavila dividendu.
United Wholesale Mortgage (UWMC +0.69%) had an August to forget. An unsuccessful acquisition attempt impacted the quarterly results the mortgage originator reported that month, and the impact wasn't positive. Relatedly, it announced a large-scale fundraising effort that raised concerns about stock dilution.
Largely due to the strong investor sell-off these events engendered, UWM's stock fell by more than 20% over the course of August.
Second-quarter swoon UWM's second-quarter results were unveiled on Aug. 5. For the period, it earned $888 million in revenue, up 17% year over year. The company's specialty is mortgage originations; these were essentially flat at $39.7 billion.
The bottom line looked uglier. UWM flipped hard to a net loss not under generally accepted accounting principles (non-GAAP, or adjusted) during the quarter, with a deficit of almost $367 million ($0.23 per share) against second quarter 2025's more than $137 million profit.
That must have come as a shock to analysts tracking the stock, as they were modeling an adjusted net profit of $0.09 per share. This surprise loss was mitigated to some degree by a solid beat on the top line; those pundits collectively estimated UWM's revenue would be under $743 million.
The year-over-year dive was due mainly to one line item, a steep $603 million accounting loss on interest rate derivatives. UWM had established a stand-alone interest rate hedge in anticipation of acquiring the real estate investment trust (REIT) Two Harbors; the idea was that the hedge would protect against potential losses on Two Harbors' mortgage servicing portfolio.
That might have worked out had Two Harbors agreed to be acquired; however, it opted to be purchased by privately held CrossCountry Mortgage instead. UWM closed that derivative position, but the consequence was the nine-digit loss.
One casualty of the awful second quarter was UWM's dividend. The company tersely announced within the earnings release that it suspended the payout, compounding the disappointment of the quarterly results.
Image source: Getty Images.
Premium Feature
Moneyball Superscore
55/100
Today's Change
(
0.69
%) $
0.01
Current Price
$
1.47
A $2 billion-plus move Another stock-shaking announcement occurred on the same day that the earnings report was released. UWM announced what it described as a "capital partnership" with SFS Group Capital and Oaktree Capital Management. This is effectively a $1.65 billion sale by the company of preferred equity and 330 million warrants for its publicly traded Class A common stock.
Another part of this capital-raising effort is a rights offering. It aims to raise $400 million by floating 200 million shares of Class A stock to current holders of that equity. This should take place in early October.
While these moves help shore up its finances, they illustrate that the company is very much reeling from its ultimately scotched attempt to acquire Two Harbors. I feel it'll recover eventually, as originating mortgages in a massive country full of people eager to own homes is a lucrative endeavor.
Yet I think the road to recovery might be longer and more painful than some think, not least because the rights issue and the large pile of new warrants could be significantly dilutive. Also, the preferred stock pumps out a high-yield dividend, so I wouldn't expect a return of the common stock payout anytime soon. To me, it feels best to steer away from UWM's shares until these storms pass.
Na UWM Holdings byla podána hromadná žaloba kvůli údajnému podvodu s cennými papíry po ztrátě za 2. čtvrtletí fiskálního roku 2026 ve výši 451,9 milionu USD a poklesu akcií o 34,78 % na 1,20 USD 6. srpna 2026.
, /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against UWM Holdings Corporation ("UWM" or the "Company") (NYSE: UWMC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether UWM and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until October 13, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired UWM securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
In December 2025, UWM and Two Harbors Investment Corp. ("Two Harbors") (owner of RoundPoint Mortgage Servicing) signed an all-stock merger agreement valued at $1.3 billion to expand UWM's mortgage servicing rights (MSRs). However, in March 2026, Two Harbors terminated the UWM agreement after CrossCountry Mortgage stepped in with a competing cash offer and agreed to pay UWM's termination fee. UWM aggressively countered by raising its proposals, but Two Harbors' board repeatedly rebuffed these advances, leading to a brief mandated negotiation waiver period in June 2026 that expired without a new deal. On August 5, 2026, after the market closed, UWM reported second quarter fiscal year 2026 financial results, including a $603.2 million interest rate derivatives loss which contributed to a $451.9 million second-quarter net loss. Total equity also fell 43.6% year over year, reflecting the net loss and derivative-related charges. Then, on August 6, 2026, at 10:30 AM EDT, the Company held an earnings call in connection with its second quarter 2026 financial results. During that call, Chief Executive Officer Mathew Ishbia ("Ishbia") disclosed "We were over-hedged, if you think of it that way, protecting against the Two Harbors transaction." Ishbia further stated "[w]e don't traditionally hedge our MSRs [Mortgage Servicing Rights]" but "when you're going through and acquiring a company like Two Harbors and a massive MSR book . . . it created a little more risk. So . . . we did put a hedge on to protect against that risk and then a lot of things happen[ed] . . . and then obviously, the Two Harbors transaction went away. And so a confluence of events that created a hedge loss."
On this news, UWM's stock price fell $0.64 per share, or 34.78%, to close at $1.20 per share on August 6, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
NEW YORK, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against UWM Holdings Corporation (NYSE:UWMC) and certain of the company’s senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws.
If you invested in UWM, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/uwm-holdings-class-action-lawsuit.
Key Details of the UWM ($UWMC) Class Action:
Lead Plaintiff Deadline: October 13, 2026Alleged Misconduct: Securities fraud alleging that UWM misrepresented its mortgage servicing rights hedging strategy and the risks created by hedging connected to the Two Harbors transactionStock Drop: August 6, 2026 – 34.78% Stock DropCourt: U.S. District Court for the Eastern District of MichiganAction: Contact BFA Law to discuss your rights Investors have until October 13, 2026 to ask the Court to be appointed to lead the case. The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in UWM securities. The class action is pending in the U.S. District Court for the Eastern District of Michigan. It is captioned Bond v. UWM Holdings Corporation et al., No. 26-cv-12862.
Why is UWM Being Sued for Securities Fraud?
UWM originates, sells, and services residential mortgage loans in the United States. In December 2025, UWM and Two Harbors Investment Corp., owner of RoundPoint Mortgage Servicing, signed an all-stock merger agreement valued at $1.3 billion.
According to the complaint, in March 2026, Two Harbors terminated the UWM agreement after CrossCountry Mortgage made a competing cash offer and agreed to pay UWM’s termination fee.
As alleged, UWM failed to disclose that it had deviated from its traditional strategy of not hedging its mortgage servicing rights by taking a major hedge position, that it over-hedged itself in anticipation of the Two Harbors transaction, and that its purported efforts to balance risk created excess hedging risk.
Why did UWM’s Stock Drop?
On August 5, 2026, after the market closed, UWM reported Q2 2026 financial results, including a $603.2 million interest rate derivatives loss which contributed to a $451.9 million second-quarter net loss. Total equity also fell 43.6% year over year, reflecting the net loss and derivative-related charges.
Then, on August 6, 2026, UWM disclosed that it “over-hedged” while protecting against the Two Harbors transaction and stated that UWM does not traditionally hedge its mortgage servicing rights. UWM further disclosed that when it was acquiring Two Harbors and a large mortgage servicing rights book, “it created a little more risk,” that UWM “did put a hedge on to protect against that risk,” and that “the Two Harbors transaction went away,” creating a hedge loss. On this news, UWM’s stock dropped $0.64 per share, or 34.78%, from a closing price of $1.84 per share on August 5, 2026, to $1.20 per share on August 6, 2026.
Click here for more information: https://www.bfalaw.com/cases/uwm-holdings-class-action-lawsuit.
What Can You Do?
If you invested in UWM, you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360, and “SuperLawyers” by Thomson Reuters.
Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”
BFA’s notable successes include a recovery of over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
UWM Holdings Corporation čelí hromadné žalobě po zveřejnění ztráty z hedgingu ve výši více než 603 milionů USD a 34% propadu akcií 6. srpna 2026. Firma zároveň oznámila silně ředící rekapitalizační plán.
, /PRNewswire/ -- UWM Holdings Corporation (NYSE: UWMC) faces a securities class action lawsuit after the price of their shares cratered 34% on August 6, 2026 in response to revelations that the company suffered over a $603 million hedge loss associated with its failed bid to acquire Two Harbors Investment Corp. and, as a result, agreed to a plan to massively dilute existing shareholders.
Hagens Berman is investigating the alleged claims and encourages UWM investors who suffered substantial losses to submit your losses now.
Key Details
Class Period: Mar. 9, 2026 – Aug. 5, 2026
Lead Plaintiff Deadline: Oct. 13, 2026
Visit: www.hbsslaw.com/cases/uwm
Contact the Firm Now: [email protected]
844-916-0895
UWM Holdings Corporation (UWMC) Securities Class Action:
The suit centers on UWM's disclosures about its hedging strategy in connection with its attempt to acquire Two Harbors.
On December 17, 2025, mortgage lender UWM announced that it and mortgage servicing rights ("MSR") company Two Harbors entered into a merger agreement pursuant to which UWM would acquire Two Harbors for about $1.3 billion in UWM stock. Two Harbors was free to receive proposals superior to UWM's.
In connection with the proposed acquisition, UWM entered into significant hedging transactions against Two Harbors' MSR portfolio whose value typically and rapidly changes based on interest rates and homeowner refinancing speeds.
The complaint alleges that UWM did not disclose that it over-hedged in connection with its attempt to take over Two Harbors. The danger to this is that if an acquisition falls through the massive hedge left behind can turn into a speculative gamble.
Over four months ago, on March 27, 2026, Two Harbors announced that it entered a definitive merger agreement with CrossCountry Mortgage in a cash transaction and that it terminated its previous deal with UWM and would pay UWM the termination fee.
Although UWM had disclosed certain information about having hedged the transaction before March 27, investors did not learn the truth of the company's exposure until August 6, 2026. That day UWM reported three important things.
First, the company reported a massive $451 million net loss and roughly a $603 million hedging loss. Management revealed, apparently for the first time, that "we were over-hedged" and "obviously, the Two Harbors transaction went away."
Second, UWM disclosed that its total equity sequentially plunged by about $615 million, or a whopping 38%.
On top of that and third, UWM told shareholders in essence that, as a result of the foregoing, it entered into a massively dilutive recapitalization plan.
The market swiftly reacted, sending the price of UWM shares sharply lower that day. Between December 17, 2025, the day of the Two Harbors acquisition announcement, and August 6, 2026, the price Of UWM shares has declined by about $3.65 or 75%.
Hagens Berman's Investigation
"We're focused on UWM's explanations for why it refrained from unwinding its hedges months ago and why management seemingly went virtually silent on the naked hedging risks until recently," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
If you invested in UWM and have substantial losses, or have knowledge that will assist the firm's investigation, submit your losses now »
Whistleblowers: Persons with non-public information regarding UWM should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
Na UWM Holdings byla podána hromadná žaloba kvůli údajnému zamlčení nadměrného zajištění hypotečních servisních práv před transakcí s Two Harbors. Akcie UWMC po oznámení výsledků za 2. čtvrtletí 6. srpna 2026 klesly o 34,78 % na 1,20 USD.
New York, New York--(Newsfile Corp. - August 21, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against UWM Holdings Corporation ("UWM Holdings" or the "Company") (NYSE: UWMC) on behalf of investors that purchased or otherwise acquired UWM Holdings securities between March 9, 2026 and August 5, 2026 (the "Class Period").
CLICK HERE TO JOIN THE CASE
If you are an investor in UWM Holdings and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (212) 329-8571.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than October 13, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
The Complaint alleges that on "August 5, 2026, after the market closed, UWM reported second quarter fiscal year 2026 financial results, including a $603.2 million interest rate derivatives loss which contributed to a $451.9 million second-quarter net loss. Total equity also fell 43.6% year over year, reflecting the net loss and derivative-related charges." "Then, on August 6, 2026, at 10:30 AM EDT, the Company held an earnings call in connection with its second quarter 2026 financial results. During that call, Chief Executive Officer Mathew Ishbia ('Ishbia') disclosed 'We were over-hedged, if you think of it that way, protecting against the Two Harbors transaction.' Ishbia further stated '[w]e don't traditionally hedge our MSRs [Mortgage Servicing Rights]' but 'when you're going through and acquiring a company like Two Harbors and a massive MSR book… it created a little more risk. So . . . we did put a hedge on to protect against that risk and then a lot of things happen[ed]…and then obviously, the Two Harbors transaction went away. And so a confluence of events that created a hedge loss.'" On "this news, shares of UWM Holdings fell $0.64 or 34.78% to close at $1.20 on August 6, 2026, on unusually heavy trading volume."
The Complaint further alleges that "Defendants failed to disclose to investors that: (1) the Company had deviated from its traditional strategy of not hedging its mortgage servicing rights to take a major hedge position; (2) the Company over-hedged itself in anticipation of the Two Harbors transaction; (3) the Company's purported efforts to balance its risk in fact created an excess hedging risk; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis."
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
If you have any questions about this Notice, your rights, or your interests, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
United Wholesale Mortgage ve 2. čtvrtletí vykázala ztrátu 451,9 mil. USD, zrušila dividendu a získala 2,05 mld. USD od Oaktree Capital. Slabý trh s bydlením a vyšší sazby dál tlačí na nové úvěry.
The second quarter of 2026 was not kind to United Wholesale Mortgage (UWMC +3.47%). It posted a massive quarterly loss, eliminated its dividend, and got a cash infusion from Oaktree Capital. This is not a stock that risk-averse investors should be considering. And even more aggressive investors might want to tread with caution. And yet, United Wholesale Mortgage remains an industry giant in the mortgage space.
How bad was the second quarter? United Wholesale Mortgage posted a loss of $451.9 million in the second quarter. That was down from net income of $170.4 million in the first quarter and $314.5 million in the second quarter of 2025. Clearly not a good showing. Notably, loan originations were down sequentially from the first quarter and flat year over year. A big part of the problem is the weak housing market and rising interest rates, both of which work against the company.
Image source: Getty Images.
And yet, the company remains one of the largest mortgage loan originators in the United States. A key part of its business is that it doesn't deal directly with customers; instead, it provides mortgage brokers with the tools they need to make loans. Further, the company generally retains mortgage servicing rights to the loans that it eventually packages into bond-like securities and sells. Those servicing rights generate reliable cash flows. In some ways, the business model is appealing.
But that doesn't change the fact that the operating environment today is difficult. Notably, rising rates depress the value of mortgage servicing rights and mortgage loans, and reduce the volume of new loan originations. This helps explain the weak first quarter and the company's need to raise over $2 billion in capital from Oaktree Capital and SFS Group Capital. SFS Capital is a new investment vehicle created by the Ishbia Family. The CEO of United Wholesale Mortgage is Mat Ishbia, so there's an important connection here.
Today's Change
(
3.47
%) $
0.05
Current Price
$
1.49
Given the cash infusion and weak financial results, the company had little choice but to stop paying dividends. The stock, as you might expect, has been performing poorly, trading near its 52-week lows. This could realistically be a make-or-break situation. If the company can muddle through this rough patch, it could turn things around over the longer term. If it continues to struggle despite the financial backstop, buying the stock amid today's uncertainty could be a costly mistake.
Most investors should watch from the sidelines The risk-versus-reward balance with United Wholesale Mortgage is tilted toward risk right now. Only the most aggressive investors should consider it. To be fair, Oaktree Capital is a highly respected business partner. And the CEO is putting their money where their mouth is, given the CEO's family's involvement in the cash infusion. However, being a large mortgage lender in a weak housing market amid rising interest rates has clearly stretched the company's finances. The company is likely to struggle until the industry backdrop improves.
UWM Holdings čelí žalobě za podvod s cennými papíry kvůli údajnému zkreslení zajišťovací strategie u hypotečních práv a rizik vytvořených zajištěním spojeným s transakcí Two Harbors. Akcie po zprávě o „over-hedgingu“ 6. srpna klesly o 34,78 %.
UWM has been sued for securities fraud after its stock plummeted 34.78% because UWM allegedly misrepresented its mortgage servicing rights hedging strategy and the risks created by hedging connected to the Two Harbors transaction.
, /PRNewswire/ -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against UWM Holdings Corporation (NYSE:UWMC) and certain of the company's senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws.
If you invested in UWM, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/uwm-holdings-class-action-lawsuit.
Key Details of the UWM ($UWMC) Class Action:
Lead Plaintiff Deadline: October 13, 2026 Alleged Misconduct: Securities fraud alleging that UWM misrepresented its mortgage servicing rights hedging strategy and the risks created by hedging connected to the Two Harbors transaction Stock Drop: August 6, 2026 – 34.78% Stock Drop Court: U.S. District Court for the Eastern District of Michigan Action: Contact BFA Law to discuss your rights Investors have until October 13, 2026 to ask the Court to be appointed to lead the case. The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in UWM securities. The class action is pending in the U.S. District Court for the Eastern District of Michigan. It is captioned Bond v. UWM Holdings Corporation et al., No. 26-cv-12862.
Why is UWM Being Sued for Securities Fraud?
UWM originates, sells, and services residential mortgage loans in the United States. In December 2025, UWM and Two Harbors Investment Corp., owner of RoundPoint Mortgage Servicing, signed an all-stock merger agreement valued at $1.3 billion.
According to the complaint, in March 2026, Two Harbors terminated the UWM agreement after CrossCountry Mortgage made a competing cash offer and agreed to pay UWM's termination fee.
As alleged, UWM failed to disclose that it had deviated from its traditional strategy of not hedging its mortgage servicing rights by taking a major hedge position, that it over-hedged itself in anticipation of the Two Harbors transaction, and that its purported efforts to balance risk created excess hedging risk.
Why did UWM's Stock Drop?
On August 5, 2026, after the market closed, UWM reported Q2 2026 financial results, including a $603.2 million interest rate derivatives loss which contributed to a $451.9 million second-quarter net loss. Total equity also fell 43.6% year over year, reflecting the net loss and derivative-related charges.
Then, on August 6, 2026, UWM disclosed that it "over-hedged" while protecting against the Two Harbors transaction and stated that UWM does not traditionally hedge its mortgage servicing rights. UWM further disclosed that when it was acquiring Two Harbors and a large mortgage servicing rights book, "it created a little more risk," that UWM "did put a hedge on to protect against that risk," and that "the Two Harbors transaction went away," creating a hedge loss. On this news, UWM's stock dropped $0.64 per share, or 34.78%, from a closing price of $1.84 per share on August 5, 2026, to $1.20 per share on August 6, 2026.
Click here for more information: https://www.bfalaw.com/cases/uwm-holdings-class-action-lawsuit.
What Can You Do?
If you invested in UWM, you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named "Elite Trial Lawyers" by the National Law Journal, "Litigation Stars" by Benchmark Litigation, among the top "500 Leading Plaintiff Financial Lawyers" by Lawdragon, "Titans of the Plaintiffs' Bar" by Law360, and "SuperLawyers" by Thomson Reuters.
Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff's securities litigation law firm, with clients noting: "[t]here is no better service provider in the practice area," "[t]he interest of the client is always front and center," and "[t]here isn't a better firm in this space." One testimonial described the firm as "nimble and entrepreneurial," with a "relentless focus on adding value for clients."
BFA's notable successes include a recovery of over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
UWM čelí hromadné žalobě kvůli údajným zavádějícím tvrzením o zajištění servisních práv k hypotékám. Po oznámení výsledků za 2. čtvrtletí fiskálního roku 2026 akcie podle žaloby spadly téměř o 35 %.
, /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of UWM Holdings Corporation (NYSE: UWMC) securities between March 9, 2026 and August 5, 2026, inclusive (the "Class Period"), have until October 13, 2026 to seek appointment as lead plaintiff of the UWM class action lawsuit. Captioned Bond v. UWM Holdings Corporation, No. 26-cv-12862 (E.D. Mich.), the UWM class action lawsuit charges UWM and certain of UWM's top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the UWM class action lawsuit, please provide your information here:
You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at [email protected].
CASE ALLEGATIONS: UWM engages in the origination, sale, and servicing residential mortgage lending. According to the complaint, in December 2025, UWM and Two Harbors Investment Corp. signed an all-stock merger agreement valued at $1.3 billion to expand UWM's mortgage servicing rights. Allegedly, in March 2026, Two Harbors Investment Corp. terminated the UWM agreement due to a competing offer and agreed to pay UWM's termination fee.
The UWM class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) UWM had deviated from its traditional strategy of not hedging its mortgage servicing rights to take a major hedge position; (ii) UWM over-hedged itself in anticipation of the Two Harbors Investment Corp. transaction; (iii) UWM's purported efforts to balance its risk in fact created an excess hedging risk; and (iv) that, as a result of the foregoing, defendants' positive statements about UWM's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On August 5, 2026, after the market closed, UWM reported second quarter fiscal year 2026 financial results, allegedly including a nearly $603.2 million interest rate derivatives loss which contributed to a $451.9 million second quarter net loss, and that total equity fell 43.6% year over year, reflecting the net loss and derivative-related charges. Then, on August 6, 2026, UWM held an earnings call in connection with its second quarter 2026 financial results. According to the complaint, UWM's Chief Executive Officer, Mathew Ishbia, disclosed "[w]e were over-hedged, if you think of it that way, protecting against the Two Harbors transaction" and that "[w]e don't traditionally hedge our MSRs [Mortgage Servicing Rights]" but "when you're going through and acquiring a company like Two Harbors and a massive MSR book… it created a little more risk. So . . . we did put a hedge on to protect against that risk and then a lot of things happen[ed]…and then obviously, the Two Harbors transaction went away. And so a confluence of events that created a hedge loss." On this news, the price of UWM shares fell nearly 35%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired UWM securities during the Class Period to seek appointment as lead plaintiff in the UWM class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the UWM class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the UWM class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the UWM class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
Kaplan Fox vyšetřuje možné porušení zákonů o cenných papírech u UWM Holdings (NYSE: UWMC) po oznámení ztráty ve výši 451,9 milionu USD a pozastavení čtvrtletní dividendy.
New York, New York--(Newsfile Corp. - August 14, 2026) - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against UWM Holdings Corporation ("UWM Holdings" or the "Company") (NYSE: UWMC).
CLICK HERE TO RECEIVE MORE INFORMATION ABOUT THIS INVESTIGATION
If you are a UWM Holdings investor and have suffered losses, or if you have information that could assist in the UWM Holdings investigation, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (212) 329-8571.
On August 5, 2026, after the close of trading, UWM Holdings issued a press release titled "UWM Holdings Corporation Announces Second Quarter 2026 Results" and reported a "net loss of $451.9 million and adjusted EBITDA of $185.9 million," "a $2.05 billion equity capital investment by Oaktree Capital Management and SFS Group Capital, LLC, a newly formed investment vehicle wholly owned by the Ishbia family," and that "the Company's Board of Directors determined to suspend its quarterly dividend."
During the subsequent earnings call, the Chief Executive Officer ("CEO") stated that "we were over-hedged, if you think of it that way, protecting against the Two Harbors transaction." The CEO further stated that "[w]e don't traditionally hedge our MSRs [Mortgage Servicing Rights]" but "when you're going through and acquiring a company like Two Harbors and a massive MSR book . . . it created a little more risk. So [] we did put a hedge on to protect against that risk and then a lot of things happen[ed] . . . and then obviously, the Two Harbors transaction went away. And so a confluence of events that created a hedge loss."
Following this news, the price of UWM Holdings stock declined from a closing price on August 5, 2026 of $1.84 per share to close at $1.20 per share on August 6, 2026, a decline of $0.64 per share, or by 34.78%, on heavier than average volume.
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
If you have any questions about this investigation, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
UWM Holdings čelí vyšetřování možných porušení zákonů o cenných papírech po oznámení výsledků za 2. čtvrtletí 2026, které zahrnovalo čistou ztrátu 451,9 mil. USD a pozastavení čtvrtletní dividendy.
New York, New York--(Newsfile Corp. - August 11, 2026) - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against UWM Holdings Corporation ("UWM Holdings" or the "Company") (NYSE: UWMC).
CLICK HERE TO RECEIVE MORE INFORMATION ABOUT THIS INVESTIGATION
If you are a UWM Holdings investor and have suffered losses, or if you have information that could assist in the UWM Holdings investigation, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (212) 329-8571.
On August 5, 2026, after the close of trading, UWM Holdings issued a press release titled "UWM Holdings Corporation Announces Second Quarter 2026 Results" and reported a "net loss of $451.9 million and adjusted EBITDA of $185.9 million," "a $2.05 billion equity capital investment by Oaktree Capital Management and SFS Group Capital, LLC, a newly formed investment vehicle wholly owned by the Ishbia family," and that "the Company's Board of Directors determined to suspend its quarterly dividend."
During the subsequent earnings call, the Chief Executive Officer ("CEO") stated that "we were over-hedged, if you think of it that way, protecting against the Two Harbors transaction." The CEO further stated that "[w]e don't traditionally hedge our MSRs [Mortgage Servicing Rights]" but "when you're going through and acquiring a company like Two Harbors and a massive MSR book . . . it created a little more risk. So [] we did put a hedge on to protect against that risk and then a lot of things happen[ed] . . . and then obviously, the Two Harbors transaction went away. And so a confluence of events that created a hedge loss."
Following this news, the price of UWM Holdings stock declined from a closing price on August 5, 2026 of $1.84 per share to close at $1.20 per share on August 6, 2026, a decline of $0.64 per share, or by 34.78%, on heavier than average volume.
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
If you have any questions about this investigation, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309198
Source: Kaplan Fox & Kilsheimer LLP
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
UWM oznámila více než 180 milionů USD upraveného EBITDA a zhruba 40 miliard USD objemu obchodů ve 2. čtvrtletí. Zároveň chystá kapitálovou transakci s Oaktree za více než 2 miliardy USD a pozastavuje pravidelnou dividendu.
3 Mortgage Companies To Watch On Rising Home SalesUWM NYSE: UWMC said it generated more than $180 million in adjusted EBITDA and approximately $40 billion of business during the second quarter, while outlining a proposed capital partnership with Oaktree and plans to suspend its regular dividend.
During a shareholder question-and-answer session, company leadership said the Oaktree transaction is intended to strengthen UWM’s balance sheet, add strategic mortgage-market expertise and position the company for what it expects to be a stronger housing and mortgage environment in the coming years.
Get UWM alerts:
Oaktree Partnership and Capital Raise 3 Mid-Cap Dividend Stocks Having Themselves a YearUWM described Oaktree as more than a source of capital, citing the firm’s experience in mortgage servicing rights, non-agency mortgage markets and capital markets. UWM said Oaktree shares its view of the independent mortgage broker channel and the infrastructure UWM has built to support brokers.
The company said the transaction represents a capital raise of more than $2 billion, including a $1.5 billion investment from Oaktree and a commitment of up to $550 million from UWM’s largest shareholder. UWM said the capital raise would increase total equity to roughly $3 billion.
Management said the transaction would reduce its non-funding debt-to-equity ratio to about 1.2 times from more than 5 times at the end of the second quarter, when it said the ratio reached approximately 5.6 times following hedge-related losses. UWM said the expected 1.2-times ratio would be below what it characterized as industry norms of roughly 1.5 to 2 times.
UWM said it chose preferred equity with warrants rather than a large common-stock issuance because issuing common shares at prevailing trading levels would have created immediate dilution. The company acknowledged that the warrants would be dilutive if exercised, but said it viewed the structure as balancing capital needs with long-term shareholder upside.
UWM said 165 million warrants have an exercise price of $2 per share. Another 165 million warrants have an exercise price of $6 per share. The company said the average warrant exercise price is about $4 per share. Management said Oaktree’s preferred investment carries a 10% coupon. It also said the capital transaction is expected to reduce interest expense by roughly $100 million through the repayment of MSR-related lines and other obligations, though the preferred dividend expense means the financing is not simply an interest-cost reduction.
Dividend Suspension and Balance Sheet Focus UWM said it is suspending its dividend to retain equity and earnings following the capital raise. Management framed the decision as one of capital allocation, saying liquidity and equity are priorities as the company seeks to expand its business and improve leverage metrics.
The company said it would continue to assess dividends with its board each quarter and could consider special dividends or a return to regular dividends in the future. For now, it said, the focus is on building capital and taking advantage of future mortgage-market opportunities.
Management said the mortgage market has been difficult for four to five years, but maintained that UWM has remained profitable and has consistently generated operating income. The company said it expects mortgage conditions over the next four to five years to be “significantly better,” though it did not provide a financial outlook.
Two Harbors Transaction and Hedge Loss UWM said a failed transaction involving Two Harbors was a factor in its decision to raise capital and in a hedge loss during the second quarter. Management said the company had anticipated acquiring a substantially larger mortgage servicing rights portfolio through the transaction, which would have roughly doubled the MSR book it had historically managed.
To protect against the additional MSR exposure, UWM put on a hedge. Management said market events, including increases in the 10-year rate, combined with the termination of the Two Harbors transaction and UWM’s equity position at the time, contributed to the loss.
The company said it removed the hedge after reaching an internal risk threshold and characterized the event as transaction-specific rather than reflective of its operating business. UWM said it does not traditionally hedge its MSR portfolio because it views loan originations and MSR values as a natural offset: lower rates may reduce MSR values but can also increase originations, while higher rates can increase MSR values while reducing loan volume.
UWM said it expects to pursue litigation involving Two Harbors and CrossCountry Mortgage over what it described as inappropriate actions related to the proposed deal, but did not provide further details.
Servicing and Originations Strategy Management said UWM does not intend to become a servicing-focused company and remains primarily an originator serving the broker channel. The company said it has brought servicing in-house, while continuing to incur costs associated with both internal servicing and its external servicing relationship with Cenlar, as well as offboarding costs.
UWM said those overlapping servicing costs are affecting current expenses and that it expects benefits from the internal platform next year. It said it will continue to build its servicing portfolio but may sell MSRs opportunistically when pricing and strategy warrant.
The company said its in-house servicing capabilities could improve borrower retention and increase the likelihood that refinances return through its broker network. Management said UWM accounts for roughly 12% to 13% of all refinances despite holding only about 2% to 3% of servicing.
If rates decline sharply, UWM said it would expect an MSR write-down but also substantially greater originations. Management said its origination platform could handle annualized volume of $250 billion to $300 billion or more and said lower rates could lead to quarterly originations of $60 billion to $80 billion.
UWM said the Oaktree partnership, higher equity base and continued investments in technology and artificial intelligence leave the company better positioned to serve mortgage brokers and pursue long-term growth.
About UWM (NYSE:UWMC)United Wholesale Mortgage NYSE: UWMC is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.
The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Should You Invest $1,000 in UWM Right Now?Before you consider UWM, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and UWM wasn't on the list.
While UWM currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we’ll send you MarketBeat’s list of ten stocks set to soar in Summer 2026, despite the threat of tariffs and what's happening in Iran. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
UWM Holdings oznámila strategické kapitálové partnerství za 2,05 mld. USD s rodinou Ishbia a Oaktree. Firma zároveň pozastaví dividendu, aby upřednostnila snižování dluhu a posílila rozvahu.
Transaction provides significant permanent capital, strengthens UWM’s balance sheet, enhances liquidity and positions the nation’s leading mortgage lender to continue investing through the cycle
PONTIAC, Mich.--(BUSINESS WIRE)--UWM Holdings Corporation (NYSE: UWMC) (“UWMC” or the “Company”), the publicly traded indirect parent of United Wholesale Mortgage (“UWM”), today announced a $2.05 billion strategic capital partnership with the Ishbia Family via their new family investment vehicle, SFS Group Capital, LLC (“SFS”) and Oaktree Capital Management, L.P. (“Oaktree”) to fortify UWM’s balance sheet and position the Company for continued long-term success at a time when many competitors are pulling back. The initial investment was made in the form of preferred equity together with warrants. The Company is also announcing a suspension of its common dividend to prioritize debt reduction and balance-sheet strength.
The Company also intends to launch a $400 million rights offering to Class A shareholders, with the support of the Ishbia Family and Oaktree, if needed. The rights offering will have a record date of October 2, 2026 (the “Record Date”) and is expected to commence on October 5, 2026 and expire at 5:00 p.m. Eastern Time on November 12, 2026. Each holder of Class A Common Stock as of the Record Date will receive one subscription right for each share of Class A Common Stock owned (each, a “Right”). Each Right will entitle the holder to purchase its pro rata portion of the 200 million shares of Class A Common Stock offered at a subscription price per share equal to the greater of: (i) $2.00 and (ii) 85% of the volume-weighted average price per share of the Class A Common Stock during the ten consecutive trading days commencing on October 27, 2026 and ending on November 9, 2026. The Rights will be transferable and listed on the NYSE. There will also be an oversubscription option for the holders of the Rights. Complete terms will be set forth in the Company's Current Report on Form 8-K to be filed with the SEC.
The transaction represents a proactive step by UWM to add permanent capital and financial flexibility while continuing to execute from its position as the nation's leading mortgage lender. UWM has been the nation’s leading mortgage originator since 2022 and the clear leader in the wholesale channel for 11 consecutive years, and this strategic capital partnership is designed to ensure the Company can continue serving its clients, team members, counterparties, bondholders, equity holders and the investor community at large while maintaining its competitive position.
The net proceeds will primarily be used to repay existing debt and MSR financing facilities and strengthen UWM's equity base and liquidity. With a fortified balance sheet, the Company will have greater flexibility to continue investing in the independent mortgage broker channel, proprietary technology and AI, and its servicing platform through the cycle. With Oaktree as a scaled strategic partner and the Ishbia Family investing alongside the transaction, UWM is further aligning its balance sheet and capital strategy with its long-term objective of expanding market share, improving durability and continuing to build the best mortgage company in America.
“We’re taking decisive action to make UWM stronger, more liquid and better positioned to win for years to come,” said Mat Ishbia, Chairman, President and Chief Executive Officer of UWM. “This is not just about capital. This is about bringing in a strategic partner that understands our business, understands MSRs, understands the mortgage industry and believes in the same long-term vision we have for UWM.”
Ishbia continued, “We’re already the No. 1 mortgage lender in America and the undisputed leader in wholesale. We’ve been able to achieve this by playing offense, and that’s not changing. This strategic partnership gives us even more firepower to sustain that offense by continuing to invest, innovate, and grow broker channel share. It strengthens our ability to support our broker partners, deliver for our clients and borrowers, and create long-term value for our team members, investors, and stakeholders. We’re going to continue investing in technology, AI, servicing and the tools that help brokers win. This transaction makes us stronger today and puts us in an even better position to continue dominating as the market recovers.”
“We are thrilled to partner with Mat and the UWM team at a pivotal time for the mortgage industry,” said Nick Basso, Co-Head of North America for Oaktree’s Global Opportunities Group. “Mat has built an exceptional business, and Oaktree’s commitment reflects our conviction in UWM’s differentiated platform, market leadership and long-term growth potential. We look forward to leveraging our experience in the mortgage sector and serving as a strategic partner to the Company and its stakeholders.”
Transaction Overview
Reflects the largest equity capital investment into a mortgage originator $2.05 billion total capital investment from Oaktree and the Ishbia Family, providing UWM with significant permanent capital and financial flexibility. $1.65 billion of preferred equity capital to be funded at closing, with a planned $400 million rights offering to Class A shareholders to be raised with the support of the Ishbia Family and Oaktree, if needed. Use of proceeds focused on balance sheet fortification, including repayment of existing debt, repayment of MSR financing facilities and support for general corporate purposes. Investors will receive warrants in connection with the transaction, aligning all parties in the performance of the business over the long term. A representative from Oaktree will join the UWM Board of Directors, and Oaktree will additionally have the right to nominate one additional independent director. In connection with the transaction, UWM will suspend its quarterly dividend, but will continue to opportunistically evaluate capital return opportunities that are in the best interest of the Company and its investors as the market evolves. In the near term, UWM plans to use its earnings and any leverage it can comfortably apply to opportunistically pay down the preferred equity. Key Benefits to UWM and its Constituents
Supports brokers, clients and borrowers. A stronger balance sheet allows UWM to continue delivering the speed, service, technology and pricing that help independent mortgage brokers compete and grow. Underscores UWM's industry-leading position, resilient earnings power, and long-term outlook, while aligning the Company with a highly respected global investment firm known for its disciplined, long-term approach to capital allocation. Positions UWM to play offense as the market recovers. With a fortified balance sheet, added liquidity, and a strategic partner alongside the Company, UWM is better positioned to capture share as housing activity and refinance demand improve. Accelerates balance sheet deleveraging by enabling the repayment of outstanding senior notes and mortgage servicing rights financing facilities, materially reducing leverage and improving key financial metrics. Pro forma structure results in strong leverage and liquidity ratios that will continue to improve through earnings. Enhances long-term financial stability by increasing total liquidity, equity base, and maintaining a healthy cash position, positioning UWM to remain resilient regardless of market conditions and interest rate volatility. Additional board members affiliated with Oaktree provide UWM with alignment and interest from individuals with world-class experience, expertise, and strategic relationships. Supports continued investment in technology and innovation, reinforcing UWM's commitment to providing independent mortgage brokers with industry-leading tools, operational efficiency, and AI-powered solutions that enhance the borrower experience. Aligns with UWM's long-term strategic focus of growing through the broker channel, expanding its leadership position in wholesale mortgage lending, and driving sustainable profitability over time. Advisors
J.P. Morgan Securities LLC is serving as financial advisor to UWMC in connection with the transaction, and Greenberg Traurig, P.A. is serving as legal counsel to UWMC. Wells Fargo Securities is serving as financial advisor to Oaktree, and Kirkland & Ellis LLP is serving as legal counsel to Oaktree.
About UWM Holdings Corporation and United Wholesale Mortgage
Headquartered in Pontiac, Michigan, UWM Holdings Corporation (“UWMC”) is the publicly traded indirect parent of United Wholesale Mortgage, LLC (“UWM”). UWM is the nation’s largest home mortgage lender, despite exclusively originating mortgage loans through the wholesale channel. UWM has been the largest wholesale mortgage lender for eleven consecutive years and is the largest purchase lender in the nation. With a culture of continuous innovation of technology and enhanced client experience, UWM leads the market by building upon its proprietary and exclusively licensed technology platforms, superior service and focused partnership with the independent mortgage broker community. UWM originates primarily conforming and government loans across all 50 states and the District of Columbia. For more information, visit uwm.com or call 800-981-8898. NMLS #3038.
Other Important Information
The rights offering will be made pursuant to the Company’s effective shelf registration statement on Form S-3 (Reg. No. 333- 297986) on file with the Securities and Exchange Commission (the "SEC") and a prospectus supplement to be filed with the SEC prior to the commencement of the rights offering.
The information herein is not complete and is subject to change. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the rights, Class A Common Stock or any other securities, nor will there be any sale of the rights, Class A Common Stock or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This document is not an offering, which can only be made by a prospectus. The base prospectus contains additional information about the Company and the prospectus supplement will contain additional information about the rights offering, and should be read carefully before investing.
This communication includes forward-looking statements. These forward-looking statements are generally identified using words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict” and similar words indicating that these reflect our views with respect to future events. Forward-looking statements in this communication include statements regarding our expectations and beliefs related to (i) the benefits of the strategic partnership with Oaktree; (ii) the impact the strategic partnership with have on UWM’s financial results; (iii) expectations regarding the rights offering and the timing and terms thereof; (iv) UWM’s ability to continue to drive shareholder value; (v) UWM’s ability to opportunistically pay down the preferred equity; (vi) UWM’s investment in technology; (vii) UWM’ ability to maintain market share; and (viii) UWM’s intrinsic value. These statements are based on management’s current expectations, but are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to materially differ from those stated or implied in the forward-looking statements, including: (i) the ability to obtain benefits of the strategic partnership with Oaktree; (ii) that the strategic partnership with Oaktree will not provide the expected benefits or impact on the financial condition of UWM; (iii) UWM’s ability to successfully implement strategic decisions and product launches; (iv) UWM’s dependence on macroeconomic and U.S. residential real estate market conditions, including changes in U.S. monetary policies, more specifically caused by the Presidential Administration that affect interest rates and inflation; (v) UWM’s reliance on its warehouse and MSR facilities and the risk of a decrease in the value of the collateral underlying certain of its facilities causing an unanticipated margin call; (vi) UWM’s ability to sell loans in the secondary market; (vii) UWM’s dependence on the government-sponsored entities such as Fannie Mae and Freddie Mac; (viii) changes in the GSEs, FHA, USDA and VA guidelines or GSE and Ginnie Mae guarantees; (ix) our ability to comply with all rules and regulations in connection with the launch of our internal servicing and the new risks that may be presented as a result of the transition; (x) UWM’s dependence on Independent Mortgage Advisors to originate mortgage loans; (xi) the risk that an increase in the value of the MBS UWM sells in forward markets to hedge its pipeline may result in an unanticipated margin call; (xii) UWM’s inability to continue to grow, or to effectively manage the growth of its loan origination volume; (xiii) UWM’s ability to continue to attract and retain its broker relationships; (xiv) UWM’s ability to implement technological innovation, such as AI in our operations; (xv) the occurrence of a data breach or other failure of UWM’s cybersecurity or information security systems; (xvi) reliance on third-party software and services; the occurrence of data breaches or other cybersecurity failures at our third-party sub-servicers or other third-party vendors; (xvii) UWM’s ability to continue to comply with the complex state and federal laws, regulations or practices applicable to mortgage loan origination and servicing in general; and (xviii) other risks and uncertainties indicated from time to time in our filings with the SEC including those under “Risk Factors” therein. We wish to caution readers that certain important factors may have affected and could in the future affect our results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of us. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
UWM Holdings Corporation (UWMC - Free Report) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of $0.07. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -428.57%. A quarter ago, it was expected that this company would post earnings of $0.06 per share when it actually produced earnings of $0.09, delivering a surprise of +50%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
UWM, which belongs to the Zacks Financial - Mortgage & Related Services industry, posted revenues of $888 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.88%. This compares to year-ago revenues of $758.7 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
UWM shares have lost about 55.5% since the beginning of the year versus the S&P 500's gain of 13%.
What's Next for UWM?While UWM has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for UWM was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.09 on $907.08 million in revenues for the coming quarter and $0.30 on $3.58 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Mortgage & Related Services is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Rocket Companies (RKT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.
This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +300%. The consensus EPS estimate for the quarter has been revised 14.6% lower over the last 30 days to the current level.
Rocket Companies' revenues are expected to be $2.82 billion, up 110.3% from the year-ago quarter.
UWM Holdings má forwardový dividendový výnos 19,2 %, ale trh pochybuje o udržitelnosti této výplaty. Zisk na akcii klesl z 0,66 USD v roce 2021 na 0,12 USD v roce 2025.
With a forward dividend yield of 19.2%, UWM Holdings (UWMC +1.25%) may seem like a golden opportunity for yield-hungry investors. But while this may represent an extremely high yield, especially for a high-profile financial stock, I wouldn't count on buying it, collecting the double-digit yield, and generating above-average total returns.
UWM's newfound status as a high-yield dividend stock is largely due to its share price collapse. Put simply, the market thinks that the mortgage wholesaler's high payout won't last. Even though the stock's valuation may account for a possible dividend suspension, such an event, along with other potential negative developments, could lead to further significant losses.
Image source: Getty Images.
UWM missed out on a merger and has questionable payout sustainability UWM, America's largest home lender, has struggled since the Federal Reserve began raising interest rates in 2022. Although revenue has bounced back from a steep drop, the company remains far from its pandemic-era high-water mark for profitability.
Today's Change
(
1.25
%) $
0.03
Current Price
$
2.03
In 2021, UWM reported revenue of around $3 billion. Last year, UWM's total revenue came in slightly above $3 billion. However, diluted earnings per share (EPS) came in at $0.66 in 2021, but in 2025, it was just $0.12.
Reaching past profitability levels was clearly an objective with UWM Holdings' plans to acquire mortgage REIT and loan servicing company Two Harbors Investment Corp. (TWO +0.21%), which it announced back in December. At that time, UWM's management touted that its $1.3 billion all-stock bid would be highly accretive to shareholders, paving the way for "continued dividends."
Unfortunately, last May, CrossCountry Mortgage, seeking to take advantage of UWM's falling stock price, emerged with a $10.80-per-share all-cash offer for Two Harbors. UWM's would-be target accepted the bid, terminating its prior plans. Although UWM stepped up with an alternative all-cash offer, Two Harbors shareholders approved the CrossCountry deal earlier this month.
Tread carefully, as the dividend remains highly uncertain Based on sell-side consensus, EPS could hit $0.38 this year, nearly covering the stock's $0.40 in annual dividends. However, a reduction or full dividend suspension could still be in the cards.
As KBW analysts Bose George and Frankie Labetti argued earlier this month, UWM Holdings could reduce its debt-to-equity ratio from 3.1 to 2.2 by the end of 2027. If improvements in the housing market coincide with UWM conserving cash, it could set the company up for a much-anticipated recovery.
However, while the analysts may believe that a dividend suspension/cut won't lead to further downside, I'd lean toward caution. Shares could continue to pull back on a dividend cut, even as the market already anticipates one.
Also, keep in mind that the housing market continues to recalibrate. Couple that with the prospect of "higher for longer" interest rates persisting under Federal Reserve Chairman Kevin Warsh, and it's even easier to see why caution remains key. Whether you like this stock as a dividend payer or as a turnaround play, you may want to take your time before entering a position.
UWM ustoupila z boje o Two Harbors, což může být pro akcionáře lepší než riskovat přeplacení. Firma se tak vyhnula nákladné akvizici v době, kdy její dividenda činí 20 % a zisk ji nepokrývá.
United Wholesale Mortgage (UWMC +2.46%), which usually just goes by the acronym UWM, just got beaten. But in this case, being a loser could be the best thing that happened to the company and its shareholders. Here's what happened and why the failed bid to buy Two Harbors (TWO +0.00%) isn't really that bad of an outcome.
Bidding wars can lead to trouble UWM and privately held CrossCountry Mortgage were both attempting to buy the mortgage real estate investment trust (REIT) Two Harbors. It all started with UWM and Two Harbors agreeing to a $1.3 billion all-stock deal in late 2025. CrossCountry Mortgage stepped in at the end of the first quarter of 2026, offering an all-cash deal that Two Harbors deemed superior.
Image source: Getty Images.
As often happens in such situations, there was an ugly, public back-and-forth. At the end of the day, CrossCountry Mortgage's cash offer rose from an original $10.70 per share to $12, or roughly $1.3 billion. That comes even after UWM offered $12.50 in cash for Two Harbor shareholders who preferred cash over 2.3328 shares of UWM. While UWM was clearly displeased with losing out, it also didn't pursue it further after its final offer.
If you own UWM, you should probably be pleased with the outcome. As anyone who's ever been in a bidding war knows, the winner often ends up overpaying. And, as Benjamin Graham, the famous investor who helped train Warren Buffett, often noted, paying too much for a good company can turn it into a bad investment. Corporate acquisitions are no different.
Today's Change
(
2.46
%) $
0.05
Current Price
$
2.08
Sometimes the winner is the loser Buffett, however, is a rather interesting name here. He backed Occidental Petroleum's (OXY 2.41%) winning bid for Anadarko Petroleum, helping the energy company outbid industry giant Chevron (CVX 1.09%). Only the deal left OXY with a huge amount of debt, just as the energy industry started a downturn. OXY had to cut its dividend to free up cash for deleveraging, and the stock price crumbled.
It isn't clear what will happen with CrossCountry Mortgage and Two Harbors, since CrossCountry Mortgage is private. However, UWM showed discipline by not pursuing Two Harbors to the point of putting its own business at risk. The importance of this outcome increases when you note that UWM's dividend yield is a shockingly high 20% and its earnings don't currently cover the dividend payment. In fairness, loan origination volume in the first quarter of 2026 rose 39% year over year, making it "the second-highest first quarter production in company history." Still, it is probably better for the company to avoid the cost and complexity of a contentious merger, given its massive dividend yield, which suggests investors are already worried about the risk of a dividend cut.
UWMC vyzvalo akcionáře Two Harbors, aby na schůzi hlasovali proti fúzi s CrossCountry Mortgage. Tvrdí, že jeho nabídka je vyšší a zahrnuje až 12,50 USD za akcii v hotovosti.
UWM Holdings Corporation (“UWMC” or the “Company”) (NYSE: UWMC), today reaffirmed its commitment to acquire Two Harbors Investment Corp. (“Two Harbors” or “TWO”) (NYSE: TWO) and issued a statement regarding the upcoming special meeting on June 23 to vote on TWO’s proposed merger with CrossCountry Mortgage, LLC ("CrossCountry" or "CCM"), following the third adjournment.
UWMC issued the following statement:
“TWO stockholders have sent a clear message over and over again: they do not support the inferior CCM transaction or the TWO Board’s repeated adjournments – and we urge them to continue to reject CCM’s inferior proposal. It’s high time that the TWO Board respect the will of their stockholders.
“In stark contrast, UWMC’s proposal offers both higher value and stockholder choice through stock consideration or an election to receive $12.50 per share in cash with full financing. That optionality is a clear benefit to stockholders, not a flaw. UWMC remains committed to its superior proposal, to reaching a transaction that is best for UWMC and for TWO stockholders, to delivering a superior offer and finalizing an agreement quickly if the TWO Board will finally do the right thing and engage in good faith.
“Stockholders should not be forced into the inferior CCM deal because TWO’s management thinks it is better for them personally. It is ironic that the TWO Board bemoans the decline of its stock price, when they have a path to maximizing value for all TWO stockholders: true engagement with UWMC. TWO stockholders should continue to vote AGAINST the CCM merger and demand that the TWO Board engage with UWMC in an open, unrestricted and good-faith manner.”
TWO stockholders should remember:
UWMC’s proposal provides higher value. UWMC’s proposal provides stockholders the option to elect $12.50 per share in cash, compared to CCM’s “best and final” $12.00 per share agreement. UWMC’s proposal provides stockholder choice. TWO stockholders can receive 2.3328 shares of UWMC stock at closing per share of TWO, preserving potential upside in the combined company. The TWO Board has categorically ruled out any formulation that includes stock, removing this optionality for stockholders. UWMC remains ready for true, good-faith engagement. TWO’s short-lived attempt at engagement was a smokescreen, given the arbitrary deadlines, restricted participation, and harsh preconditions that limited constructive discussion. UWMC is prepared to continue discussing terms, including alternatives around the default election mechanism and other adjustments to the merger consideration, if TWO will finally conduct open negotiations. Independent proxy advisors have universally recommended AGAINST the CCM transaction. ISS, Glass Lewis and Egan-Jones have all recommended that TWO stockholders vote AGAINST the CCM transaction, citing concerns with the TWO Board’s process and the availability of UWMC’s superior offer. Voting AGAINST the CCM transaction is the only way to maintain a path to maximum value. Without full engagement with UWMC, TWO stockholders can never be certain that their Board has delivered maximum value for their holdings. Keeping pressure on the Board by voting AGAINSTthe inferior CCM transaction is the only path to asserting stockholders’ rights. VOTE AGAINST THE PROPOSED CCM MERGER ON THE BLUE PROXY CARD TODAY!
UWMC encourages all TWO stockholders toVOTE AGAINST Two Harbors’ CCM Merger Proposal, AGAINST the Non-Binding Compensation Advisory Proposal and AGAINST the Adjournment Proposal according to the instructions on UWMC’s BLUE Proxy Card today to preserve the opportunity to achieve greater value by engaging with UWMC’s superior proposal.
If you have any questions or require assistance with voting your shares, please contact our proxy solicitor, Okapi Partners, by calling (844) 343-2621 (Toll Free for stockholders) or (212) 297-0720 (for Banks and Brokers), or by email at [email protected].
IT IS NOT TOO LATE TO CHANGE YOUR VOTE.
ONLY YOUR LAST SUBMITTED AND RECEIVED VOTE WILL COUNT AT THE MEETING.
YOUR VOTE IS IMPORTANT, NO MATTER HOW MANY SHARES YOU OWN!
About UWM Holdings Corporation and United Wholesale Mortgage
Headquartered in Pontiac, Michigan, UWM Holdings Corporation (UWMC) is the publicly traded indirect parent of United Wholesale Mortgage, LLC (“UWM”). UWM is the nation’s largest home mortgage lender, despite exclusively originating mortgage loans through the wholesale channel. UWM has been the largest wholesale mortgage lender for 11 consecutive years and is also the largest purchase lender in the nation. With a culture of continuous innovation of technology and enhanced client experience, UWM leads the market by building upon its proprietary and exclusively licensed technology platforms, superior service and focused partnership with the independent mortgage broker community. UWM originates primarily conforming and government loans across all 50 states and the District of Columbia. For more information, visit uwm.com or call 800-981-8898. NMLS #3038.
This communication includes forward-looking statements. These forward-looking statements are generally identified using words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict” and similar words indicating that these reflect our views with respect to future events. Forward-looking statements in this communication include statements regarding our expectations and beliefs related to (i) the timing of the completion of any proposed transaction; (ii) the ability of the parties to complete any proposed transaction; and (iii) the benefits of a proposed transaction. These statements are based on management’s current expectations, but are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to materially differ from those stated or implied in the forward-looking statements, including: (i) that the parties will not agree to pursue a business combination transaction or that the terms of any such transaction will be materially different from those described herein; (ii) the ability of the parties to satisfy the conditions to any proposed transaction, including obtaining stockholder approval and regulatory approval, on a timely basis or at all; (iii) the ability to obtain synergies and benefits of any proposed transaction; (iv) UWM’s ability to successfully implement strategic decisions and product launches; (iv) UWM’s dependence on macroeconomic and U.S. residential real estate market conditions, including changes in U.S. monetary policies, more specifically caused by the Presidential Administration that affect interest rates and inflation; (vi) UWM’s reliance on its warehouse and MSR facilities and the risk of a decrease in the value of the collateral underlying certain of its facilities causing an unanticipated margin call; (vii) UWM’s ability to sell loans in the secondary market; (viii) UWM’s dependence on the government-sponsored entities such as Fannie Mae and Freddie Mac; (ix) changes in the GSEs, FHA, USDA and VA guidelines or GSE and Ginnie Mae guarantees; (x) our ability to consummate the merger with Two Harbors and achieve the anticipated benefits; (xi) our ability to comply with all rules and regulations in connection with the launch of our internal servicing and the new risks that may be presented as a result of the transition; (xii) UWM’s dependence on Independent Mortgage Advisors to originate mortgage loans; (xiii) the risk that an increase in the value of the MBS UWM sells in forward markets to hedge its pipeline may result in an unanticipated margin call; (xiv) UWM’s inability to continue to grow, or to effectively manage the growth of its loan origination volume; (xv) UWM’s ability to continue to attract and retain its broker relationships; (xvi) UWM’s ability to implement technological innovation, such as AI in our operations; (xvii) the occurrence of a data breach or other failure of UWM’s cybersecurity or information security systems; (xviii) reliance on third-party software and services; the occurrence of data breaches or other cybersecurity failures at our third-party sub-servicers or other third-party vendors; (xix) UWM’s ability to continue to comply with the complex state and federal laws, regulations or practices applicable to mortgage loan origination and servicing in general; and (xx) other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission (the “SEC”) including those under “Risk Factors” therein. We wish to caution readers that certain important factors may have affected and could in the future affect our results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of us. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
No Offer or Solicitation
This communication is for informational purposes only and is not intended to, and shall not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Additional Information
This communication relates to a proposal that UWMC has made to the Two Harbors Board for a business combination transaction with Two Harbors. In furtherance of this proposal and subject to future developments, UWMC filed a definitive proxy statement on Schedule 14A on May 14, 2026 (the “Proxy Statement”) with the SEC in order to solicit proxies against the Proposed CCM Merger and other proposals to be voted on by TWO stockholders at the special meeting of TWO stockholders to be held to approve the Proposed CCM Merger. UWMC may file amendments or supplements to the Proxy Statement and one or more registration statements, proxy statements, tender or exchange offers or other documents with the SEC. This communication is not a substitute for any proxy statement, registration statement, tender or exchange offer document, prospectus or other document UWMC and/or Two Harbors may file with the SEC in connection with a proposed transaction.
INVESTORS AND SECURITYHOLDERS OF UWMC AND TWO HARBORS ARE URGED TO READ THE PROXY STATEMENT, ANY ADDITIONAL MATERIALS UWMC MAY FILE WITH RESPECT TO THE BUSINESS COMBINATION TRANSACTION, INCLUDING ANY REGISTRATION STATEMENT, TENDER OR EXCHANGE OFFER DOCUMENT, PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS IF AND WHEN FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY, WHEN THEY ARE AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT UWMC, TWO HARBORS, A PROPOSED TRANSACTION AND RELATED MATTERS. Investors and securityholders of UWMC and Two Harbors will be able to obtain copies of these documents if and when they become available, as well as other filings with the SEC that will be incorporated by reference into such documents, containing information about UWMC and Two Harbors, without charge, at the SEC’s website (http://www.sec.gov). Copies of the documents filed with the SEC by UWMC will be available free of charge under the SEC Filings heading of the Investor Relations section of UWMC’s website at https://investors.uwm.com.
Participants in the Solicitation
UWMC and its respective directors and executive officers and other members of management and employees may be deemed to be participants in any solicitation of proxies from Two Harbors stockholders in respect of a solicitation and proposed transaction under the rules of the SEC. Information regarding UWMC’s directors and executive officers is available in UWMC’s Annual Report on Form 10-K for the year ended December 31, 2025, and UWMC’s proxy statement, dated April 24, 2026, for its 2026 annual meeting of stockholders (the “UWMC 2026 Proxy”), which can be obtained free of charge through the website maintained by the SEC at http://www.sec.gov. Please refer to the sections captioned “Compensation Discussion and Analysis”, “Executive Compensation”, “Stock Ownership” and “Proposal 3 – Advisory Vote on Executive Officer Compensation” in the UWMC 2026 Proxy. Any changes in the holdings of UWMC’s securities by UWMC’s directors or executive officers from the amounts described in the UWMC 2026 Proxy have been reflected in Statements of Change in Ownership on Form 4 filed with the SEC subsequent to the filing date of the UWMC 2026 Proxy and are available at the SEC’s website at www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260622782067/en/
