EconomyTop US Mortgage Lender Plunges Most Ever After Pausing Dividend
United Wholesale Mortgage, the largest mortgage lender in the US, reported a net loss of $452 million. The company also suspended its dividend for the first time. Its shares fell as much as 49% on Thursday, marking their steepest decline on record. The sharp selloff followed the announcement of the loss and dividend suspension.
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Top US Mortgage Lender Plunges Most Ever After Pausing Dividend
Economy