United Wholesale Mortgage has declared $215 million in net income for the second quarter, down from $453 million in the first quarter. However, it still bested the $139 million it saw during the same period last year. So reports the Detroit Free Press.
UWM cut employee headcount to roughly 7,000 as of June 30, from about 9,000 in summer 2021.
Rocket Companies, the parent of Rocket Mortgage, previously announced a second-quarter profit of $60 million, down from more than $1 billion a year earlier.
Read the full article from the Detroit Free Press.