Q4 2025 UWM Holdings Corp Earnings Call Transcript
Key Points
- UWM Holdings Corp (UWMC) achieved its fourth consecutive year as the number 1 overall lender in America and its 11th consecutive year as the number 1 wholesale lender.
- The company reported $163.4 billion in originations for 2025, marking a 17% increase from 2024.
- UWM Holdings Corp (UWMC) delivered a strong fourth quarter with $49.6 billion in originations, a 28% year-over-year increase.
- The company is bringing servicing in-house and has a promising partnership with Bilt, enhancing consumer experience and broker engagement.
- UWM Holdings Corp (UWMC) maintains a strong capital and liquidity position, with total equity of $1.6 billion and available liquidity of $1.8 billion at the end of Q4 2025.
- Net income for the full year 2025 was $244 million, down from $329 million in 2024.
- The company experienced a $435 million MSR write-down for the year and a $28.8 million write-down in Q4.
- Despite strong revenue growth, the company's net income was impacted by significant write-downs.
- The liquidity position was lower at the end of Q4 compared to Q3 due to the timing of a $1 billion senior unsecured bond issuance.
- The company did not conduct a Q&A session during the earnings call, which may leave some investor questions unanswered.
Good morning. My name is Tiffany, and I will be your conference operator today. At this time, I would like to welcome everyone to the UWM Holdings Corporation Fourth Quarter 2025 and full year 2025 Earnings Conference Call. (Operator Instructions)
Blake Kolo, you may begin your conference.
Good morning. This is Blake Kolo, Chief Business Officer and Head of Investor Relations. Thank you for joining us, and welcome to the Fourth Quarter and Full Year 2025 UWM Holding Corporation Earnings Call.
Before we start, I would like to remind everyone that this conference call includes forward-looking statements. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the earnings release that we issued this morning.
Our commentary today will also include non-GAAP financial measures. For more information on our non-GAAP metrics and the reconciliation between the GAAP and non-GAAP
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