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Sep 30, 2021
UWM Q3 2021 Earnings Report
UWM achieved record quarterly total loan volume and purchase volume, but net income decreased due to a decline in fair value of mortgage servicing rights.
Key Takeaways
UWM Holdings Corporation reported a net income of $329.9 million for Q3 2021, with a record quarterly total loan volume of $63.0 billion and purchase volume of $26.5 billion. The net income includes a $170.5 million decline in the fair value of mortgage servicing rights (MSRs).
Originations reached $63.0 billion, a 16% increase from 3Q20.
Purchase originations totaled $26.5 billion, a 119% increase compared to 3Q20.
Net income was $329.9 million, inclusive of a $170.5 million decline in fair value of MSRs.
Unpaid principal balance of mortgage servicing rights increased to $284.9 billion.
Revenue by Segment
Forward Guidance
We anticipate fourth quarter production to be in the $52-$60 billion range, with expected gain margin between 85 and 105 bps.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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