UWM Holdings Corporation (NYSE: UWMC)

This investigation is for anyone who acquired securities in UWM Holdings Corporation (NYSE: UWMC) prior to April 2, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company followed all applicable laws when the Company was engaged in a racketeering scheme whereby the Company paid kickbacks to supposedly independent brokers who then sent the Company clients that the Company overcharged.

On April 2, 2024, Hunterbrook Media published a report alleging, among other things, that UWM gets almost all its business “from brokers who sent UWM more than 99% of their business” rather than shopping mortgages to competing lenders, causing borrowers to pay UWM “between hundreds of millions and billions more in closing costs than people whose brokers found them typical loans.” The same day, a racketeering consumer class action suit was filed against UWM, alleging that UWM engaged in a mortgage loan “steering enterprise” with “captive” brokers in violation of federal racketeering laws and other provisions. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in UWM Holdings Corporation (NYSE: UWMC) prior to April 2, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.