UWM Holdings Corporation Announces First Quarter 2021 Results
UWM Holdings Corporation (NYSE: UWMC), the publicly traded indirect parent of United Wholesale Mortgage (“UWM”), the #1 wholesale mortgage lender in America, today announced the results for the first quarter ended March 31, 2021. UWMC reported 1Q21 net income of
Mat Ishbia, Chairman and CEO of UWMC said: "The first quarter of 2021 was not only the best first quarter in our 35-year history, it also marked our first quarter as a public company and solidified our foundation for growth. We believe we now have the capital, liquidity, technology, campus and staffing necessary to further scale our business and grow to become the largest mortgage originator in the country. We welcome the shift to more of a purchase market and the pressure on margins as we believe our business model is built to outperform competitors under those conditions. Moving forward, our priorities remain the same: our people, the industry-leading service we offer to our brokers, and creating long-term value for our shareholders."
First Quarter 2021 Financial Highlights
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Originations of
$49.1 billion in loan volume, a16% increase from the 1Q20$42.4 billion loan volume - Total gain margin of 219 bps in 1Q21 compared to 95 bps in 1Q20
-
First quarter net income of
$860.0 million , as compared to$20.3 million for 1Q20 -
Increased total equity to
$2.78 billion at March 31, 2021 as compared to$681.5 million at March 31, 2020 -
Unpaid principal balance of mortgage servicing rights increased to
$221.0 billion in 1Q21 from$85.6 billion in 1Q20
Production and Income Statement Highlights (dollars in thousands)
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|
Q1 2021 |
|
Q4 2020 |
|
Q1 2020 |
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Closed loan volume(1) |
|
$ |
49,094,240 |
|
|
$ |
54,678,923 |
|
|
$ |
42,441,727 |
|
Total gain margin(1)(2) |
|
2.19 |
% |
|
3.05 |
Uwm Holdings Corporation
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Mortgage Finance
Mortgage Bankers & Loan Correspondents
United States
PONTIAC
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