United Wholesale Mortgage reveals significant decline in profit

Commenting on the figures, UWM chairman and CEO Mat Ishbia said: “2021 was a fantastic year for UWM with incredible milestones: from becoming a public company to delivering another year of record production. We have continued to be relentless about developing and launching innovative technology solutions like BOLT, the most advanced underwriting system in the industry, to enable sustainable and profitable growth for both UWM and our broker partners. We also delivered our best fourth-quarter production of all time, coupled with growth in the broker channel.”

The lender’s purchase originations for the year ended 2021 was $87.3 billion, a sequential gain of 103% from $42.9 billion in 2020. Its unpaid principal balance of MSRs also increased from $188.3 billion to $319.8 billion. UWM had non-funding debt of $2.16 billion in Q4 2021 compared to $1.16 billion in Q4 2020.

“As the industry navigates rising rates and low housing inventory, UWM is well-positioned to succeed by doing what we do best – proving a mortgage broker is the fastest, easiest and most affordable option for borrowers. With continued channel growth and elite industry-leading service, we are poised to reach our goal of becoming the nation’s #1 overall mortgage lender,” Ishbia said.