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- Two Harbors Merger Dispute (new) — UWM alleges Two Harbors breached a $1.3 billion merger agreement and committed fraud; Two Harbors has filed counterclaims.
- Securities Class Action (new) — A securities class action was filed against UWM and executives alleging violations of the Securities Exchange Act.
- Preferred Stock Dilution and Control (new) — New Series A preferred stock and 330M warrants significantly dilute common shareholders and give Oaktree board nomination rights and potential majority control.
- Rights Offering Disclosure Lawsuit (new) — A lawsuit challenges the adequacy of disclosures related to the pending rights offering.
Partial Analysis Warning
One or more filing sections could not be analyzed because the AI response was not valid JSON. The rest of the report was generated normally, but this report may omit material changes from:
- MD&A: Section analysis failed; admin notified.
UWM swings to $212.6M Q3 profit on MSR gains, but faces $1.3B Two Harbors merger suit and new preferred-stock dilution
Filed November 6, 2026 · Period ending September 30, 2026 · Compared to 10-Q Nov 6, 2025 · ~2 min read
Key Changes
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Net income swung to $212.6M in Q3 2026 from $12.1M a year earlier, driven by a $470.3M gain on mortgage servicing rights (MSR) fair value versus a $307.8M loss last year.
Notes: MSR fair value change view on EDGAR → -
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UWM sued Two Harbors over an alleged breach of a $1.3 billion merger agreement and fraud; Two Harbors filed counterclaims. A securities class action and derivative suits were also filed.
Legal Proceedings verify on EDGAR → -
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Issued $1.65B of Series A preferred stock to Oaktree and SFS Group, plus 330M warrants. Preferred carries 10% cash dividend (13% if not paid), financial covenants, and Oaktree board rights.
Notes: Preferred stock and warrants 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 · Nov 9, 2026 · How we verify