CEO Mat Ishbia noted in a statement: "The fourth quarter and 2020 overall was phenomenal for UWM and the wholesale channel by any measure."
Good afternoon —
We knew 2020 was going to end up being an outstanding year for mortgage originators in general, but United Wholesale Mortgage's fourth-quarter financials,made public today, show just how good it was for the wholesale lender.
The company, which went public earlier this month, reported more than $54 billion in mortgages and more than $1.3 billion in net income during the fourth quarter. For all of 2020, UWM's net income came in at $3.38 billion.
As CEO Mat Ishbia noted in a statement: "The fourth quarter and 2020 overall was phenomenal for UWM and the wholesale channel by any measure."
No kidding.
It will be interesting to compare those numbers with those from Rocket, the overall market leader, which will report its earnings later this month. In the third quarter, Rocket posted closing origination volume of $89 billion, up 122% year-over-year, and a profit of nearly $3 billion.
Today's HousingWire Daily interview features a crossover episode from HousingWire's Housing News podcast. In this episode, Vermillion Consulting's Dale Vermillion discusses how mortgage lenders can best adjust their businesses during periods of growth and how they can also support their staff during tumultuous times.
HUD announced on Wednesday a series of temporary waivers that will allow servicers to use alternative methods when servicing FHA-insured reverse mortgages.
Nomis Mortgage provides real-time market & competitive intelligence for lenders to make data-driven decisions by analyzing more than 40 million records a day from over 350 lenders. We turn noise into meaningful data for better margin management and pricing strategy. Learn more!
As call volumes have spiked to a level not seen since last April, lenders and servicers need to prepare for a significant increase in their workload as they help borrowers through difficult times. Presented by Computershare Loan Services
HousingWire, 433 East Las Colinas Blvd., Suite 830, Irving, TX 75039, (469) 893-1480
EmoticonEmoticon