UWM waves back to profitability in Q2 2025
“We have delivered our best quarter since 2021, and this was not because of the hands of the market,” said chairman and CEO Mat Ishbia in prepared comments. “While others withdraw, UWM has doubled.”
The refinance volume of UWM doubled compared to Q2 2024 and rose by 17% of the first quarter to $ 12.4 billion. UWM said that during the period 11% of the total REFI volume of the industry recorded. The day before the income release, it announced a 90 basic point stimulus for tariff-and-period refis that is available until mid-September.
The profit sales margin of the wholesaler provider improved to 113 basic points, an increase of 94 BPS in Q1 2025 and 106 BPS in Q2 2024.
Regarding the market share of the Channel Broker, UWM reached nearly 30% from April to June – the highest share since 2009 – although the aim is to exceed more than 50%.
According to Ishbia, 97% of consumers who collaborate with a mortgage broker give a five -star review, but only 10% remembers who their broker was when it is time to refinance. To help brokers to stay at the top, UWM technologies such as the Optimizer (Leo) and MIA loan, an artificial assistant for intelligence-powered assistant for loan officials.
Financial performance
In general, UWM booked the net income of $ 314 million for the quarter, which reduced a loss of $ 247 million in Q1 2025 and considerably higher than the profit of $ 76.2 million in Q2 2024. But documents that have been submitted to the Securities and Exchange Commission (SEC) Shows a non-Gaap-Nettover loss of $ 249 million for the quarter.
In its service portfolio, the mortgage rights of the company amounted to $ 211 billion in unpaid main balance as of 30 June, somewhat less than $ 214 billion at the end of March.
“Most people think that you should have the customer in your service book to refinance them. First of all we do not refinance borrowers – our brokers do. But secondly we only possess about 2% of the industry market,” said Ishbia. “So for us to do 11-plus percent [of the industry’s refinances] Really tolerates the age -old theory that you must possess the service to do the Refi. ‘
The lender has decided to bring his maintenance to his own home, a process that is expected to be completed in Q1 2026. Ishbia said that this step will have a positive financial impact and will increase the borrower loyalty to brokers.
“We recently entered into a partnership with a company called BuildWhat will help create a great front-end experience for consumers, “he added.
UWM terminated the quarter of $ 2.2 billion in available liquidity, including $ 490 million in cash and loan capacity.
Looks ahead, the lender expects to arise in the third quarter between $ 33 billion and $ 40 billion, with a profit-to-sales margin between 100 and 125 BP.
Rami Hasani, the financial director of UWM since April, said that the company believes it is positioned to “process our current production volume twice with a minimum impact on fixed costs.” He also noted that UWM continues to assess and evaluate the opportunistic refinancing of $ 800 million in unsecured banknotes in November 2025.
UWM stock from Thursday morning around $ 4.60, an increase of approximately 8% compared to the end of the previous day.
