UWMC - United Wholesale Demonstrates the Health of the Mortgage Broker Business
Last year saw heavy activity in the mortgage market. The COVID-19 pandemic triggered an economic collapse, which caused the Fed to lower lending rates to zero and aggressively support the mortgage market. Mortgage bankers had their best years in ages, and many, such as Rocket (NYSE: RKT) , took advantage of the market to go public.
Another leader in the mortgage business, United Wholesale (NYSE: UWMC) , just went public via a special purpose acquisition company (SPAC). United Wholesale, with a completely different business model compared to the typical originator, just announced its fourth-quarter and full-year 2020 earnings.
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United Wholesale Demonstrates the Health of the Mortgage Broker Business