UWM
Originates and services U.S. residential mortgages exclusively through independent brokers.
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Profile
Provides residential mortgage products through independent brokers, earning loan-production, servicing, and interest income. The wholesale-only model relies on secondary-market execution through Fannie Mae, Freddie Mac, and Ginnie Mae.
Residential mortgages are originated and serviced exclusively through independent brokers, with conventional agency-eligible loans at the core. The product set also includes FHA, VA, USDA, jumbo, construction, non-qualified mortgage, and HELOC loans.
Loan-production income, loan-servicing income, and interest income form the business's revenue components. Operations are concentrated in the United States and supported by an internal technology and information-systems function at its Pontiac headquarters. Secondary-market execution depends on sales to Fannie Mae and Freddie Mac or transfers to Ginnie Mae pools, while the servicing portfolio remains a core operating dependency.
Company facts
Categories
Key statistics
Year to date −66.2% · Average volume (30d) 20.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | Stephens | Target | $2 | |||
| Aug 7, 2026 | Barclays | Reiterate | Overweight | $4 | $2 | |
| Aug 6, 2026 | BTIG | Target | $4 | $2 | ||
| Jul 29, 2026 | Citigroup | Upgrade | Outperform | |||
| Jul 29, 2026 | Citizens | Upgrade | Market Perform | Market Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.07 | −$0.23 | −414.7% | $727.5M | $162.1M | −77.7% | −34.78% |
| May 6, 2026Q1 FY26 | $0.06 | $0.09 | +50.0% | $709.8M | $901.4M | +27.0% | −3.15% |
| Feb 25, 2026Q4 FY25 | $0.09 | $0.08 | −11.1% | $759.7M | $759.0M | −0.1% | +9.38% |
| Nov 6, 2025Q3 FY25 | $0.08 | $0.01 | −86.9% | $654.8M | $470.7M | −28.1% | +3.14% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $161.6M | $784.6M | $470.7M | $945.2M | $901.4M | $888.0M | |
| Gross profit | $30.8M | $641.3M | $333.0M | $816.4M | $769.1M | $815.8M | |
| Operating income | −$260.8M | $329.4M | $12.7M | $559.5M | $330.8M | $49.0M | |
| Net income | −$13.7M | $22.9M | −$1.3M | $19.4M | $25.3M | −$80.6M | |
| Diluted EPS | −$0.09 | $0.11 | −$0.01 | $0.08 | $0.09 | −$0.24 | |
| Gross margin | 19.1% | 81.7% | 70.8% | 86.4% | 85.3% | 91.9% | |
| Operating margin | -161.4% | 42.0% | 2.7% | 59.2% | 36.7% | 5.5% |
Fiscal years (4-quarter sums)FY21 $2.83B · FY22 $2.15B · FY23 $1.11B · FY24 $1.91B · FY25 $2.36B
Balance sheet, Jun 30, 2026Cash & short-term investments $498.4M · Total debt $14.65B · Total assets $17.94B · Shareholders' equity $133.7M
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 18, 2026 | Jun 18 | Jul 9 | $0.10 | |
| Mar 19, 2026 | Mar 19 | Apr 9 | $0.10 | |
| Dec 18, 2025 | Dec 18 | Jan 8 | $0.10 | |
| Sep 18, 2025 | Sep 18 | Oct 9 | $0.10 | |
| Jun 18, 2025 | Jun 18 | Jul 10 | $0.10 | |
| Mar 20, 2025 | Mar 20 | Apr 10 | $0.10 | |
| Dec 19, 2024 | Dec 19 | Jan 9 | $0.10 | |
| Sep 19, 2024 | Sep 19 | Oct 10 | $0.10 |
Ownership
Shares outstanding — · Float —
Shares outstanding and float — provider count disagrees with the price.
The provider's share count does not square with the market price, so neither it nor anything divided by it is shown.
The institutional figure is the one the filers report, not a quotient recomputed on the share count.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 30.46M | 13F | Aug 13, 2026 | |
| BlackRock, Inc. | 17.58M | 13F | Aug 7, 2026 | |
| The Goldman Sachs Group, Inc. | 17.40M | 5.10% | 13G | Aug 10, 2026 |
| Garvin Family Sports, L.L.C. | 13.87M | 8.79% | 13G/A | Nov 25, 2024 |
| Vanguard Portfolio Management LLC | 13.86M | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 8, 2026 | Ishbia Mat | director, 10 percent owner, officer: President and CEO | −1,003,333 | $3.39 |
| May 7, 2026 | Ishbia Mat | director, 10 percent owner, officer: President and CEO | −1,003,333 | $3.39 |
| May 6, 2026 | Ishbia Mat | director, 10 percent owner, officer: President and CEO | −1,003,333 | $3.66 |
| May 5, 2026 | Ishbia Mat | director, 10 percent owner, officer: President and CEO | −1,003,333 | $3.45 |
| Apr 30, 2026 | Ishbia Mat | director, 10 percent owner, officer: President and CEO | −934,061 | $3.53 |
Peers
- Rocket Companies
Broker-channel mortgages and servicing through Rocket Pro
- PennyMac Financial Services
Broker-direct lending and residential mortgage servicing
- Rithm Capital
Newrez residential mortgage origination and servicing platform
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| UWM | $1.48 | −0.67% | $2.26B | — | 5.3 | 0.7 | −79.3% |
| Rocket Companies | $13.80 | +0.22% | $38.89B | 94.3 | 19.0 | 4.0 | +113.7% |
| PennyMac Financial Services | $73.05 | −0.43% | $3.81B | 10.1 | 8.7 | 0.8 | −52.2% |
| Rithm Capital | $10.09 | +0.05% | $5.63B | 16.8 | 4.5 | 1.0 | +205.4% |
| Median | 16.8 | 8.7 | 1.0 | +113.7% |