UWM Reports Positive Q1 Earnings, New Record For Purchases

UWM Holdings Corporation, the parent company of United Wholesale Mortgage, reported positive Q1 2024 results, including a company record for purchase originations. The company saw total loan origination volume jump by 13.1% from last quarter, soaring to $27.6 billion. That’s up 23.76% YOY.  Of that total, purchases accounted for $22.1 billion, a first-quarter record for the company. UWM’s net income was $180.5 million, including a $15.6 million decline in the fair value of MSRs and diluted earnings per share of $0.09. “We continue to see positive results from our strategy and investments. Both volume and margin are strengthening and we delivered increased volume performance relative to the fourth quarter of last year,” Chairman and CEO Mat Ishbia said. “Even more…