UWM Holdings Corporation faces a securities class action and related investigation after reporting a $603.2 million second-quarter loss on interest-rate derivatives tied to its failed approximately $1.3 billion all-stock acquisition of Two Harbors Investment Corp. The derivatives loss contributed to a $451.9 million quarterly net loss, while UWM’s shares fell $0.64, or approximately 34.8%, to $1.20 on August 6, 2026. The complaint alleges UWM departed from its traditional practice of not hedging mortgage servicing rights, became over-hedged while preparing for the transaction, and failed to disclose the resulting risks. The proposed class covers investors who purchased or otherwise acquired UWM common stock from March 9 through August 5, 2026, inclusive; motions for lead-plaintiff appointment are due October 13, 2026.