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Mar 31, 2023
UWM Q1 2023 Earnings Report
UWM's first quarter results reflected a net loss, but purchase volume remained strong and gain margin increased from the prior quarter.
Key Takeaways
UWM Holdings Corporation reported first quarter 2023 results with a total loan origination volume of $22.3 billion, including $19.2 billion in purchase volume. The company experienced a net loss of $138.6 million, which included a $337 million decline in the fair value of mortgage servicing rights (MSRs). Despite the loss, the company saw an increase in gain margin and highlighted its strong purchase quarter.
Originations were $22.3 billion in 1Q23, compared to $38.8 billion in 1Q22.
Purchase originations were $19.2 billion in 1Q23, the highest first quarter purchase volume in UWM history.
Total gain margin was 92 bps in 1Q23, compared to 99 bps in 1Q22.
Net loss was $138.6 million in 1Q23, compared to a net income of $453.3 million in 1Q22.
Revenue by Segment
Forward Guidance
The company anticipates second quarter production to be in the $23 to $30 billion range, with gain margin from 75 to 100 basis points.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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