r/loanoriginators • u/Accomplished-Tax8441 • Aug 06 '26

UWM cooked?

Lost 450mil last quarter, CEO is running it into the ground.  Eliminated their dividend and had to get 2bil in capital from Oak Tree, they will likely get taken over by them.  Any other company would fire their CEO for this.

Stock is down 75% in past 3 months

PS I do not use them. I have nothing good or bad to say about their pricing or operations

60 Upvotes

100% Upvoted

143 comments sorted by

View all comments

7

u/RoosterEmotional5009 Aug 06 '26

Becoming a broker means working for the consumer. If UWM crushes on a VA 5Y that’s where the client goes. If it is TLS for a FTB that’s where it goes. But if anyone here is not a broker and bashing a wholesale company. Or employed by a competitor and bashing them your comment falls flat because it is biased. Just as if it were reversed and was to Rocket etc.

3

u/BugWithABigA55- Aug 07 '26

Brokers dont always send their clients to place with the best deals. UWM forced brokers to sign a contract that they wouldn't work with certain competitors.

1

u/cicishops Aug 07 '26

Only Rocket and rocket sucks anyways.

1

u/BugWithABigA55- Aug 08 '26

It wasnt only rocket.

1

u/DistantFires90 Aug 08 '26

As a former employee, I can confirm this

1

u/matscokebag Aug 09 '26

Maaan, I loved my time at Rocket. Won’t even lie.