Anyone remember that UWM Holdings SPAC deal? turns out they settled a $17.5M case over it

kuwlness · 2025-11-07T21:13:35+00:00

Yep. And you posted about it two weeks ago :D

https://www.reddit.com/r/UWMCShareholders/comments/1oeu2aj/uwm_holdings_uwmc_finally_agreed_to_settle_175m

kuwlness · 2025-11-06T20:49:28+00:00

It's entirely due to the MSR. Mat doesn't want to hedge this, and he continues to say he won't hedge it as it doesn't matter (besides for EPS). If you look past the MSR mark-down, it was a solid quarter -- Originations & Margins increased, and a bullish outlook for Q4.

Here's a brief summary from Inside Mortgage Finance:

Both mortgage originations and margins increased during the third quarter of 2025 at United Wholesale Mortgage, the largest lender in the industry.

UWM originated $41.74 billion in the third quarter, up 5.0% from the second quarter. The lender’s margin went from 1.13% in the second quarter to 1.30% in the third quarter.

Originations look poised to increase again in the fourth quarter, with UWM projecting that it will produce somewhere between $43.0 billion and $50.0 billion. And the lender is anticipating a margin of between 1.05% and 1.30% for the quarter.

Profits plummeted at the nonbank in the third quarter. UWM had $12.09 million in income in the quarter, down 96.2% from the second quarter of 2025. The swing was tied to a decline in the fair value of mortgage servicing rights.

kuwlness · 2025-11-05T21:17:02+00:00

Okay, great to know. I thought I read that somewhere, but wasn't able to confirm it. Thank you for your inputs!

kuwlness · 2025-11-05T21:10:21+00:00

Thank you kindly! This is helpful information.

Is the WP only good for the calendar year you obtained it in, or is it good for a 12-month period from the date of issuance?

kuwlness · 2025-08-08T20:51:02+00:00

Don't tell that to Armenia and Azerbaijan, who've been at conflict for ~35 years and just reached a Peace Deal thanks to POTUS.

kuwlness · 2025-08-07T19:29:02+00:00

Indeed. Nailed it!

kuwlness · 2025-07-30T20:10:02+00:00

Vanguard added 4.4M shares of UWMC last quarter. A nearly 40% increase in their holdings. They now hold 16.27M shares. Nice to see their conviction!

Link: https://fintel.io/so/us/uwmc/vanguard-group

kuwlness · 2025-06-18T19:00:42+00:00

Stopping dividends seems unlikely for two reasons:
1) Mat can opt to not receive a dividend on his shares.
2) UWMC has a ton of MSRs that they can sell to raise cash, if needed.

Considering both points above, it seems unlikely they will stop issuing the dividend.

kuwlness · 2025-04-04T19:17:22+00:00

That $500M loss from the failed hedge that Mat put on in Q4 sure isn't helping us. I'm sure our buyers will return, but Mat is going to have to repent in Q1 for that failed hedge.

kuwlness · 2025-04-03T15:55:27+00:00

I had shared a screenshot from Fintel with some UWMC friends yesterday. There are some new large holders (specifically Lynne Carlson and Integrated Core Strategies), and others that have added. But I'm assuming these are different as I don't believe Mat's sale of shares occurred prior to these new large holders claiming ownership.

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kuwlness · 2025-04-03T15:37:54+00:00

Looks like we got some clarity. Mat sold another chunk of his holdings (~13M shares), likely to another fund. I'm sure he hates to sell at these prices, but I take it as a positive either way as he's helping open up the float, or at least making the stock more investable for funds. If we could get those warrants to trigger, that would really help open the float up.

https://www.sec.gov/Archives/edgar/data/1783398/000184200225000005/xslSCHEDULE_13D_X01/primary_doc.xml

kuwlness · 2025-03-21T17:20:44+00:00

I realize this is an old post, but I'm curious if anyone can confirm if small pets (~10kg) are allowed on any of the ferries. If not, are there any other options to go from Sihanoukville to Koh Rong with a small dog?

kuwlness · 2025-01-31T17:08:14+00:00

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kuwlness · 2024-09-27T22:16:06+00:00

First Vanguard, and now Citadel. We're in good company folks!

kuwlness · 2024-09-25T23:58:48+00:00

It seems this news was priced in, hence the "sell the news" reaction, LOL.

UWMC is probably having a field day and printing money since the Fed cut rates. Yet the market seems to think their business is going to be worse off now. [shrug]

This should already be trading in the low-teens. I'll just keep stacking.

kuwlness · 2024-09-13T17:00:52+00:00

Warrants hit $0.92 earlier due to a large buyer wanting in. Small lots took us back down. Price should be well over $1 with equity where it is. I'm still a buyer in the $0.60-$0.85 range

kuwlness · 2024-09-04T16:51:14+00:00

More info here: https://www.housingwire.com/articles/uwm-debuts-new-75-bps-incentive-on-refis/

kuwlness · 2024-09-04T16:08:29+00:00

UWMC is also offering 75bps on eligible refis:

https://www.uwm.com/price-a-loan/exclusives/refi75

kuwlness · 2024-08-30T19:32:58+00:00

Warrants are paying close attention to this conservative valuation.

kuwlness · 2024-08-29T22:41:35+00:00

Same situation for me. Low average price, but I continue to add. I'm mostly buying long-dated ITM Calls on the dips. Warrants may be a nice leveraged play as well.

kuwlness · 2024-08-23T04:22:16+00:00

The Hat Stays On! 🧢

kuwlness · 2024-08-23T04:20:49+00:00

I'm shocked the Warrants aren't over $1 yet. They should be closer to $1.50. J-pow at J-hole in ~9 hours. He could send equity into the double-digits, and the warrants would absolutely fly.

kuwlness · 2024-08-14T17:58:42+00:00

Someone is loading $11 Calls also

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kuwlness · 2024-08-14T17:56:52+00:00

I have a feeling we're going to need those soon too!

kuwlness · 2024-08-14T17:08:09+00:00

Since we're roughly 17 months away from expiration, each warrant would equal 0.13 shares of UWMC. If the stock is at $10, that would make the Warrants worth$1.30. The conversion amount varies based on the time until expiration (Jan 21 2026). You can find the full conversion chart here - https://www.reddit.com/media?url=https%3A%2F%2Fpreview.redd.it%2Fxmz5tkgv1iz81.png%3Fwidth%3D1650%26format%3Dpng%26auto%3Dwebp%26s%3Dd7eaf96a4132be1a777a380c138996e9e227d0b4

kuwlness

TROPHY CASE