Two Harbors said the structure of UWM’s offer is “fundamentally illusory and predatory,” noting that UWM’s stock price has been declining, among other issues.

April issuance was the highest monthly total since June 2022, when the market was coming down from the euphoria of the COVID-19 rally.

Typically, when interest rates decline — as they did for much of the first quarter — the retention rate increases.

Locks for residential mortgages declined by 9% on a monthly basis in April, according to Optimal Blue.

The firm generated a $45.0 million profit, with a margin of 27.0% in the first quarter of 2026.

“The outlook for the months ahead remains fragile as volatile mortgage rates and economic uncertainty continue to be headwinds,” said Lisa Sturtevant, chief economist at Bright MLS, a multiple listing service covering the Mid-Atlantic region.

“Rocket is no longer solely a rate-driven business,” said Varun Krishna, CEO of the company. “We are a business with durable, recurring revenue streams that also retain significant upside when rates fall.”

“The industry forecasts are expecting a step up in Q2 but I would say that we’re just not seeing that,” said Varun Krishna, CEO of Rocket Companies.

The higher loss was due to a combination of an increase in compensation and benefits and a $21.0 million hit from Better’s bank in the United Kingdom, which is now classified as a discontinued operation.

Mike Logozzo, CEO of reAlpha, said the company is putting a greater emphasis on artificial intelligence.