UWM Holdings Corporation (NYSE:UWMC) Q4 2023 Earnings Conference Call February 28, 2024 10:30 AM ET Company Participants Blake Kolo - Head, Investor Relations Mat Ishbia - Chairman and Chief Executive Officer Andrew Hubacker - Chief Financial Officer Conference Call Participants Kyle Joseph - Jefferies Bose George - KBW Steve Delaney - Citizens JMP Doug Harter - UBS Jeff Adelson - Morgan Stanley Mark DeVries - Deutsche Bank Eric Hagen - BTIG Operator Good morning. My name is Regina and I will be your confer ...

UWM Holdings Corporation (UWMC) reported $-114.58 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 137.9%. EPS of -$0.23 for the same period compares to $0.00 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $402.14 million, representing a surprise of -128.49%. The company delivered an EPS surprise of -866.67%, with the consensus EPS estimate being $0.03.While investors scrutinize revenue and earnings changes year-over-year and how t ...

PONTIAC, Mich.--(BUSINESS WIRE)--UWM Holdings Corporation (NYSE: UWMC) (the "Company"), the publicly traded indirect parent of United Wholesale Mortgage (“UWM”), today announced its results for the fourth quarter and full year ended December 31, 2023. Total loan origination volume for the fourth quarter 2023 was $24.4 billion, of which $20.7 billion was purchase volume. Total loan originations for full year 2023 were $108.3 billion, of which $93.9 billion was purchase volume. The Company reported 4Q23 net l ...

Exhibit 99.1 UWM Holdings Corporation Announces Fourth Quarter & Full Year 2023 Results Fourth Quarter Loan Origination Volume of $24.4 Billion, Including Purchase Volume of $20.7 Billion. PONTIAC, MI, February 28, 2024 - UWM Holdings Corporation (NYSE: UWMC) (the "Company"), the publicly traded indirect parent of United Wholesale Mortgage ("UWM"), today announced its results for the fourth quarter and full year ended December 31, 2023. Total loan origination volume for the fourth quarter 2023 was $24.4 bil ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number 001-39189 UWM HOLDINGS CORPORATION (Exact name of registrant as specified in its charte ...

Theerayut Kaenthao In 2023, UWM Holdings Corporation (NYSE:UWMC) showcased remarkable resilience, more than doubling its share price despite facing challenges from Federal Reserve rate hikes. The company's strategic offensive stance, evident in substantial loan volumes, new services, and operational efficiency gains, fueled its performance. However, new challenges arise in 2024, including anticipated rate cuts and a dividend to maintain. I believe UWM's financial strength, operational excellence, and ca ...

UWM Holdings Corporation (NYSE:UWMC) Q3 2023 Results Conference Call November 8, 2023 10:30 AM ET Company Participants Blake Kolo - Chief Business Officer & Head of Investor Relations Mathew Ishbia - Chairman, President & CEO Andrew Hubacker - Executive VP, Chief Accounting Officer & CFO Conference Call Participants Kyle Joseph - Jefferies Bose George - KBW Eric Hagen - BTIG Jeffrey Adelson - Morgan Stanley Kevin Barker - Piper Sandler Mikhail Goberman - JMP Securities Operator Good morning. My name is Rob, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number 001-39189 UWM HOLDINGS CORPORATION (Exact name of registrant as specified in i ...

Financial Data and Key Metrics Changes - In Q2 2023, the company achieved a production volume of $31.8 billion, marking a 43% increase compared to Q1 2023 and setting a new all-time quarterly record for purchase volume at $28 billion [7][2] - Year-to-date net income reached $90.2 million, with Q2 net income reported at $228.8 million, surpassing the previous year's performance despite a more challenging market environment [2][7] - The gain margin for Q2 was 88 basis points, consistent with guidance, and year-to-date gain margin stood at 90 basis points, reflecting a significant increase from the latter half of 2022 [7][16] Business Line Data and Key Metrics Changes - The company rolled out new products, including a 1% down program aimed at assisting lower-income borrowers, and enhanced its jumbo product offerings to drive more volume [14][12] - The government loan segment saw a 60% quarter-over-quarter growth, primarily driven by increased FHA loan activity as conventional options became less accessible [63][67] Market Data and Key Metrics Changes - The broker channel continues to gain momentum, with a significant number of loan officers transitioning from retail to wholesale, contributing to the company's growth [26][12] - The company maintained a strong balance sheet with total equity of approximately $2.9 billion and total accessible liquidity of approximately $2.8 billion as of the end of the quarter [30][29] Company Strategy and Development Direction - The company remains committed to investing in technology and team members to enhance service to brokers, with a focus on preparing for future market opportunities [19][12] - The strategy includes opportunistically selling MSRs to support operational liquidity while maintaining a high-quality servicing portfolio [17][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to succeed in various market conditions, highlighting that while competitors are downsizing, the company is hiring and investing [12][25] - The management anticipates a potential refi boom and is prepared to capitalize on it, emphasizing the importance of scale and operational readiness [25][84] Other Important Information - The company announced a consistent quarterly dividend of $0.10 for the 11th consecutive quarter, reflecting its financial stability despite industry challenges [32][29] - The company completed sales of MSRs totaling nearly $1.4 billion year-to-date, with a total servicing portfolio of approximately $295 billion at the end of the quarter [17][30] Q&A Session Summary Question: What is the origination capacity and how did the company achieve a 40% quarter-on-quarter volume increase? - The company attributed the volume increase to technology investments that allow for handling higher volumes without the need for layoffs [35] Question: What is the strategy regarding jumbo loans and how significant is this opportunity? - Management noted that the current banking environment presents opportunities in the jumbo loan market, which the company is well-positioned to capture [36] Question: How is the company managing interest costs in the elevated rate environment? - The company continues to utilize excess cash to self-warehouse production, which helps manage interest expenses [40] Question: Can you elaborate on the growth in government origination volume? - The growth in government loans, particularly FHA, is attributed to competitive dynamics and the need for affordable options as conventional loans become less accessible [63][67] Question: How does the company view the future of the broker channel? - Management expressed optimism about the broker channel's growth potential, emphasizing that brokers are increasingly loyal and successful with UWM [76][79]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number 001-39189 UWM HOLDINGS CORPORATION (Exact name of registrant as specified in its ch ...