UWM Holdings Corporation (UWMC): Shares of UWM Holding (UWMC) declined 5....

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Tuesday, 08/17/2021 3:03:15 PM

Tuesday, August 17, 2021 3:03:15 PM

Shares of UWM Holding (UWMC) declined 5.1% on Monday and slipped another 1.9% in extended trade to closed at $7.32 after the company reported lower-than-expected Q2 results. UWM Holdings engages in underwriting and providing closing documentation for residential mortgage loans. The company reported earnings of $0.07 per share in the second quarter, which missed analysts’ estimates of $0.08 per share. Markedly, Q2 results were inclusive of a $219.1 million decline in the fair value of mortgage servicing rights. Revenues of $484.7 million declined 42% year-over-year and lagged the consensus estimates of $668.3 million. The downside can be attributed to a 37% fall in loan production income during the quarter.

https://www.tipranks.com/news/uwm-holding-drop-5-1-as-q2-results-miss-estimates?utm_source=advfn.com&utm_medium=referral

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