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- Broker-steering Class Action (new) — Weatherill plaintiffs allege UWM improperly influenced brokers to steer borrowers to UWM at inflated pricing; court partially granted UWM's motion to strike class allegations in July 2026, but case remains active.
- Cyberattack-related Class Actions (new) — Three class actions filed June-July 2026 allege damages from an October 2025 cyberattack at UWM's vendor, Mercadien; UWM states it was not the party attacked and intends to defend vigorously.
- Tcpa Telemarketing Class Actions (new) — Two TCPA class actions filed in Colorado (Warne in February 2026, Fox in June 2026) allege violations of federal and state telemarketing laws; UWM argues it should not be held vicariously liable for independent brokers' actions.
- Msr Facility Leverage (worsened) — Outstanding borrowings under MSR facilities increased nearly sevenfold from $425M to $2.95B (June 30, 2025 to June 30, 2026), significantly increasing leverage against MSR assets.
UWM swings to -$80.6M net loss on -$80.6M derivative losses; closes Oaktree capital raise
Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read
Key Changes
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Net loss of $451.9M in Q2 2026 vs. net income of $314.5M in Q2 2025, driven by a $603M loss on interest rate derivatives (vs. a $209M gain prior year). The company exited derivative positions entered at the end of Q1 and beginning of Q2 2026.
MD&A: Net Income & Derivatives verify on EDGAR → -
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On August 5, 2026, the company closed a $1.65B preferred offering with Oaktree ($1.5B) and SFS Group ($150M), issuing Series A-1 and A-2 Preferred Stock with 10% cash / 13% PIK dividends plus warrants to purchase 330M Class A shares at $2.00 and $6.3 million strikes. Oaktree receives two board seats.
Notes: Subsequent Events verify on EDGAR → -
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MSR facility borrowings surged from $425M to $2.95B (June 30, 2025 to June 30, 2026), while interest expense on non-funding debt rose to $86.8M from $50.8M, driven by higher MSR facility balances and the $1.0B 2031 Senior Notes issued in September 2025.
MD&A: Debt & Liquidity verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 10, 2026 · How we verify