UWM Holdings Corporation, the parent company of United Wholesale Mortgage, reported positive Q1 2024 results, including a company record for purchase originations. The company saw total loan origination volume jump by 13.1% from last quarter, soaring to $27.6 billion. That’s up 23.76% YOY. Of that total, purchases accounted for $22.1 billion, a first-quarter record for…
Rocket Companies began 2024 with strong momentum, according to CEO Varun Krishna. The parent company of Rocket Mortgage reported a total net revenue of $1.4 billion and adjusted revenue of $1.2 billion. GAAP net income was reported at $291 million, or $0.11 per GAAP diluted earnings per share. Adjusted net income was reported at $84…
Fannie Mae’s Q1 earnings fell short of expectations, but the GSE turned a profit last quarter. The mortgage giant reported $4.3 billion in net income for Q1 2024, up from $3.9 billion in Q4 2023 but lower than analysts expected. Its overall revenue was $7.1 billion, a sturdy sum but lower than expectations of $7.68…
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