UWM hits record drop after dividend pause, secured by a $2B equity lifeline

United Wholesale Mortgage plunged about 49% after reporting a $452 million quarterly loss and pausing its dividend, as housing-market demand slows. The company also announced a $2.05 billion equity investment from Oaktree Capital Management and SFS Group Capital—a vehicle owned by CEO Mat Ishbia and his family—to bolster liquidity and its mortgage servicing rights position, signaling a strategic pivot amid a tougher lending environment.