UWM Holdings Corp. in Pontiac, the publicly traded indirect parent of United Wholesale Mortgage, today reported second-quarter total loan origination volume of $39.7 billion, total revenue of $758.7 million, and net income of $314.5 million.
“The second quarter of 2025 was an outstanding quarter for UWM,” says Mat Ishbia, chairman and CEO of UWMC. “I am proud that we delivered our best quarter since 2021, and it wasn’t because of any market tailwinds.
“It was fantastic both operationally and financially, but more importantly, we made a series of significant strategic decisions and product launches that we believe are not only game-changing for mortgage brokers but also will change the trajectory of our company and the wholesale channel.”
The quarter’s loan originations of $39.7 billion compared to $32.4 billion in the first quarter and $33.6 billion during the same period in 2024.
The 2Q total revenue of $758.7 million topped the $613.4 million reported in 1Q and the $622.4 million posted in the second quarter of 2024.
UWMC’s second-quarter net income of $314.5 million easily bested the $247 million net loss suffered in the first quarter of the year, and the $76.3 million reported during the same period last year.
Other highlights in the quarterly report include:
- Purchase originations of $27.3 billion in 2Q25, compared to $21.7 billion in 1Q25 and $27.2 billion in 2Q24.
- Total gain margin of 113 bps in 2Q25 compared to 94 bps in 1Q25 and 106 bps in 2Q24.
- Adjusted EBITDA of $195.7 million in 2Q25 compared to $57.8 million in 1Q25 and $133.1 million in 2Q24
- Total equity of $1.7 billion in June 30, compared to $1.6 billion in March 31, and $2.3 billion in June 30, 2024
- Unpaid principal balance of MSRs of $211.2 billion with a WAC of 5.51 percent in June 30, compared to $214.6 billion with a WAC of 5.44 percent in March 31, and $189.5 billion with a WAC of 4.31 percent in June 30, 2024
- Ended 2Q25 with approximately $2.2 billion of available liquidity, including $490.0 million of cash and available borrowing capacity under our secured and unsecured lines of credit.
Ishbia attributes the improved performance to the company’s embrace of technology.
“Our latest AI technologies, Mia and LEO, are two excellent examples of the leadership you’ll continue to see from us in this space, and more importantly, we are now seeing measurable results in our business as a result of the investments we have made in artificial intelligence,” Ishbia says. “I am proud of our team and excited for what lies ahead.”
