United Wholesale Mortgage plunges 40% after suspending dividend and raising capital

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United Wholesale Mortgage plunges 40% after suspending dividend and raising capital

AI Summary

United Wholesale Mortgage’s stock plunged 40% following its announcement of dividend suspension and capital raising efforts. CEO Mat Ishbia emphasized these measures aim to strengthen the company's liquidity and long-term competitive position.

"We're taking decisive action to make UWM stronger, more liquid and better positioned to win for years to come," CEO Mat Ishbia said in a statement.

Markets Deals United Wholesale Mortgage stock plunge dividend suspension capital raising CEO statement financial strategy

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