Posted To: Pipeline Press
People ask me what I do when I finish the commentary and send it out. This will give you an inkling . I don’t know if folks at United Wholesale do the same after a decent quarter, but UWM announced its earnings this morning . “2Q21 net income of $138.7 million on $59.2 billion in total originations. The record loan origination volume for the quarter also included a quarterly record of $24.1 billion in purchase volume and net income for the second quarter was inclusive of a $219.1 million decline in fair value of mortgage servicing rights (MSRs).” UWM is an independent mortgage bank, not tied to a depository bank. IMBs have their share of concerns. For example, will we see Community Reinvestment Act (CRA) requirements put in place for IMBs? It doesn’t make a lot of sense…(read more)
Source: Mortgage News Daily
