United Wholesale Mortgage (UWM) saw its stock drop significantly, by as much as 40%, after the company announced the suspension of its dividend and plans to raise capital.

United Wholesale Mortgage (UWM) has outlined an ambitious $1.3 trillion five-year origination goal and announced plans to cease subservicing by the end of the year. These strategic moves aim to reshape the company's market position.

Brenda Tracy, who accused former Michigan State University coach Mel Tucker of sexual harassment, has filed a lawsuit against Mat Ishbia and United Wholesale Mortgage (UWM). The lawsuit targets Ishbia, who is also the owner of the Phoenix Suns, and his company.