UWMC - United Wholesale Mortgage stock pulls up after Q3 earnings beat stable outlook

UWM Holdings (NYSE:UWMC) stock rises 1.9% after Q3 results beat the consensus estimates as its mortgage servicing rights portfolio increased and the company sees a relatively stable gain margin in Q4. Sees Q4 production of $52B-60B; compares with Q3 originations of $63.0B, a record for the company. Expects Q4 gain margin of 85-105 basis points vs. Q3 total gain margin of 94 bps. Q3 unpaid principal balance of mortgage servicing rights increased to $284.9B at Sept. 30, 2021 from $260.5B at June 30. During the quarter, UWM Holdings (UWMC) executed $1.17B in private label securitization deals and sold MSRs on loans with an aggregate UPB of ~$22.7B for proceeds of ~$269.9M. Q3 total gain margin of 0.94 bps increased from 0.81 in Q2 2021, but is down from 3.18 in Q3 2020. Originations of $63.0B in Q3 increased from $59.2B in Q2; purchase originations of $26.5B rose from $24.0B in the

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United Wholesale Mortgage stock pulls up after Q3 earnings beat, stable outlook