\nMat Ishbia, Chairman, Chief Executive Officer and President of UWMC, said, “The first quarter marked another win for UWM. We executed with precision and broker market share grew. When rates briefly dipped, we swiftly capitalized on the refinance opportunity\u2014all while maintaining our best-in-class performance in the purchase market. In both Q4 of 2024 and Q1 of 2025, we once again proved our ability to quickly adapt and scale in response to rate changes, a direct result of the investments and groundwork we’ve laid over the past three years. Our focus remains on building long-term, sustainable value\u2014not chasing short-term gains\u2014and we’re confident in our ability to perform across all market conditions, even amid economic uncertainty and volatility.”\n<\/p>\n
First Quarter 2025 Highlights<\/b><\/p>\n Production and Income Statement Highlights <\/b>(dollars in thousands, except per share amounts)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Q1 2025<\/b><\/p>\n<\/td>\n Q4 2024<\/b><\/p>\n<\/td>\n Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Loan origination volume(1)<\/sup><\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 32,351,776<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n38,664,357\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n27,630,535\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Total gain margin(1)(2)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 0.94<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.05\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.08\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n Total revenue<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 613,370<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n720,596\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n585,519\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Net income (loss)<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (247,028<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n40,613\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n180,531\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Diluted earnings (loss) per share<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (0.12<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.02\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.09\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Adjusted net income (loss)(3)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (195,300<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n33,040\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n141,121\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA(3)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 57,803<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n118,158\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n101,490\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(1) Key operational metric (see discussion below)\n<\/p>\n<\/td>\n<\/tr>\n \n(2) Represents total loan production income divided by loan origination volume.\n<\/p>\n<\/td>\n<\/tr>\n \n(3) Non-GAAP metric (see discussion and reconciliations below).\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Balance Sheet Highlights as of Period-end <\/b>(dollars in thousands)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q4 2024<\/b><\/p>\n<\/td>\n Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Cash and cash equivalents<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 485,024<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n507,339\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n605,639\n<\/p>\n<\/td>\n Mortgage loans at fair value<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 8,402,211<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9,516,537\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,338,135\n<\/p>\n<\/td>\n Mortgage servicing rights<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3,321,457<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,969,881\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,191,803\n<\/p>\n<\/td>\n Total assets<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 14,048,433<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n15,671,116\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,797,334\n<\/p>\n<\/td>\n Non-funding debt (1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3,149,687<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,401,066\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,311,850\n<\/p>\n<\/td>\n Total equity<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,635,349<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,053,848\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,457,058\n<\/p>\n<\/td>\n Non-funding debt to equity (1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1.93<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.66\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.94\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(1) Non-GAAP metric (see discussion and reconciliations below).\n<\/p>\n<\/td>\n Mortgage Servicing Rights <\/b>(dollars in thousands)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Q1 2025<\/b><\/p>\n<\/td>\n Q4 2024<\/b><\/p>\n<\/td>\n Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Unpaid principal balance<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 214,615,072<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n242,405,767\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n229,706,006\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Weighted average interest rate<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 5.44<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.76\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.58\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n Weighted average age (months)<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 19<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n24\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n22\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n First Quarter Business and Product Highlights<\/b><\/p>\n \nSphere LOS Partnership\n<\/p>\n \nTRAC Lite Expansion\n<\/p>\n \nPaid Search Accelerator\n<\/p>\n Product and Investor Mix – Unpaid Principal Balance of Originations <\/b>(dollars in thousands)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Purchase:<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q4 2024<\/b><\/p>\n<\/td>\n Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Conventional<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 13,179,468<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n13,841,424\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,160,107\n<\/p>\n<\/td>\n<\/tr>\n Government<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 6,673,499<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,069,761\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,567,925\n<\/p>\n<\/td>\n<\/tr>\n Jumbo and other (1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,894,070<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,941,420\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,393,397\n<\/p>\n<\/td>\n<\/tr>\n Total Purchase<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 21,747,037<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n21,852,605\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n22,121,429\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Refinance:<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q4 2024<\/b><\/p>\n<\/td>\n Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Conventional<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 4,339,327<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,898,500\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,716,281\n<\/p>\n<\/td>\n<\/tr>\n Government<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 4,699,294<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,415,421\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,657,541\n<\/p>\n<\/td>\n<\/tr>\n Jumbo and other (1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,566,118<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,497,831\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,135,284\n<\/p>\n<\/td>\n<\/tr>\n Total Refinance<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 10,604,739<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n16,811,752\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n5,509,106\n<\/p>\n<\/td>\n<\/tr>\n Total Originations<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 32,351,776<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n38,664,357\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n27,630,535\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(1) Comprised of non-agency jumbo products, construction loans, and non-qualified mortgage products, including home equity lines of credit (“HELOCs”) (which in many instances are second liens).\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Second Quarter 2025 Outlook<\/b><\/p>\n \nWe anticipate second quarter production to be in the $38 to $45 billion range, with gain margin from 90 to 115 basis points.\n<\/p>\n Dividend<\/b><\/p>\n \nSubsequent to March 31, 2025, for the eighteenth consecutive quarter, the Company’s Board of Directors declared a cash dividend of $0.10 per share on the outstanding shares of Class A common stock. The dividend is payable on July 10, 2025, to stockholders of record at the close of business on June 18, 2025. Additionally, the Board approved a proportional distribution to SFS Corp., which is payable on or around July 10, 2025.\n<\/p>\n Earnings Conference Call Details<\/b><\/p>\n \nAs previously announced, the Company will hold a conference call for financial analysts and investors on Tuesday, May 6, 2025, at 10:00 AM ET to review the results and answer questions. Interested parties may register for a toll-free dial-in number by visiting:\n<\/p>\n https:\/\/registrations.events\/direct\/Q4I746365<\/a><\/p>\n Adjusted net income<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q4 2024<\/b><\/p>\n<\/td>\n Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nEarnings (loss) before income taxes\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (260,816<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n42,332\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n184,264\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAdjusted income tax (provision) benefit\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 65,516<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(9,292\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(43,143\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n Adjusted net income (loss)<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (195,300<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n33,040\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n141,121\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q4 2024<\/b><\/p>\n<\/td>\n Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (247,028<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n40,613\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n180,531\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest expense on non-funding debt\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 50,081<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n44,882\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n40,243\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nProvision (benefit) for income taxes\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (13,788<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,719\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,733\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 11,340<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,094\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,340\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 8,310<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,999\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,876\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of MSRs due to valuation inputs or assumptions\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 250,821<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(456,253\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(141,059\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nLoss on other interest rate derivatives\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n469,538\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDeferred compensation, net\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 914<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,191\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,063\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of Public and Private Warrants\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (685<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(8,495\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(686\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nChange in Tax Receivable Agreement liability\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (442<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(110\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n180\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of investment securities\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (1,721<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,980\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n269\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 57,803<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n118,158\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n101,490\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Non-funding debt and non-funding debt to equity<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q4 2024<\/b><\/p>\n<\/td>\n Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nSenior notes\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,786,467<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,785,326\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,989,250\n<\/p>\n<\/td>\n \nSecured lines of credit\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 250,000<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n500,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n200,000\n<\/p>\n<\/td>\n \nBorrowings against investment securities\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 88,775<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n90,646\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n94,064\n<\/p>\n<\/td>\n \nFinance lease liability\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 24,445<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25,094\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n28,536\n<\/p>\n<\/td>\n Total non-funding debt<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 3,149,687<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n3,401,066\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,311,850\n<\/p>\n<\/td>\n Total equity<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,635,349<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,053,848\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,457,058\n<\/p>\n<\/td>\n Non-funding debt to equity<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1.93<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.66\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.94\n<\/p>\n<\/td>\n Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n \nThis press release and our earnings call include forward-looking statements. These forward-looking statements are generally identified using words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict\u201d and similar words indicating that these reflect our views with respect to future events. Forward-looking statements in this press release and our earnings call include statements regarding: (1) our ability to quickly capitalize on the refinance markets and its impact on our market performance; (2) our ability to adapt and scale our business when interest rates move; (3) the launch of our internal servicing; (4) our ability to handle our origination volume while limiting the impact on our fixed costs; (5) our position amongst our competitors and ability to capture market share; (6) our beliefs regarding opportunities in 2025 for our business and the broker channel; (7) our beliefs regarding operational profitability; (8) growth of the wholesale and broker channels, the impact of our strategies on such growth and the benefits to our business of such growth; (9) our growth and strategies to remain the leading mortgage lender, and the timing and drivers of that growth; (10) the benefits and liquidity of our MSR portfolio; (11) our beliefs related to the amount and timing of our dividend; (12) our expectations for future market environments, including interest rates, levels of refinance activity and the timing of such market changes; (13) our expectations related to production, gain margin and our overall success in the second quarter of 2025; (14) our performance in shifting market conditions and the comparison of such performance against our competitors; (15) our ability to produce results in future years at or above prior levels or expectations, and our strategies for producing such results; (16) our position and ability to capitalize on market opportunities and the impacts to our results and (17) our investments in technology and the impact to our operations, ability to scale and financial results. These statements are based on management\u2019s current expectations, but are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to materially differ from those stated or implied in the forward-looking statements, including: (i) UWM\u2019s dependence on macroeconomic and U.S. residential real estate market conditions, including changes in U.S. monetary policies, more specifically caused by changes in Presidential Administration that affect interest rates and inflation; (ii) UWM\u2019s reliance on its warehouse and MSR facilities and the risk of a decrease in the value of the collateral underlying certain of its facilities causing an unanticipated margin call; (iii) UWM\u2019s ability to sell loans in the secondary market; (iv) UWM\u2019s dependence on the government-sponsored entities such as Fannie Mae and Freddie Mac; (v) changes in the GSEs, FHA, USDA and VA guidelines or GSE and Ginnie Mae guarantees; (vi) our ability to comply with all rules and regulations in connection with the launch of our internal servicing; (vii) UWM\u2019s dependence on Independent Mortgage Advisors to originate mortgage loans; (viii) the risk that an increase in the value of the MBS UWM sells in forward markets to hedge its pipeline may result in an unanticipated margin call; (ix) UWM\u2019s inability to continue to grow, or to effectively manage the growth of its loan origination volume; (x) UWM\u2019s ability to continue to attract and retain its broker relationships; (xi) UWM\u2019s ability to implement technological innovation, such as AI in our operations; (xii) the occurrence of a data breach or other failure of UWM\u2019s cybersecurity or information security systems; (xiii) the occurrence of data breaches or other cybersecurity failures at our third-party sub- servicers or other third-party vendors; (xiv) UWM\u2019s ability to continue to comply with the complex state and federal laws, regulations or practices applicable to mortgage loan origination and servicing in general; and (xv) other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission including those under \u201cRisk Factors\u201d therein. We wish to caution readers that certain important factors may have affected and could in the future affect our results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of us. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.\n<\/p>\n About UWM Holdings Corporation and United Wholesale Mortgage<\/b><\/p>\n \nHeadquartered in Pontiac, Michigan, UWM Holdings Corporation (UWMC) is the publicly traded indirect parent of United Wholesale Mortgage, LLC (\u201cUWM\u201d). UWM is the nation\u2019s largest home mortgage lender, despite exclusively originating mortgage loans through the wholesale channel. UWM has been the largest wholesale mortgage lender for ten consecutive years and is the largest purchase lender in the nation. With a culture of continuous innovation of technology and enhanced client experience, UWM leads the market by building upon its proprietary and exclusively licensed technology platforms, superior service and focused partnership with the independent mortgage broker community. UWM originates primarily conforming and government loans across all 50 states and the District of Columbia. For more information, visit uwm.com or call 800-981-8898. NMLS #3038.\n<\/p>\n UWM HOLDINGS CORPORATION<\/b><\/p>\n CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n (in thousands, except shares and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n December 31,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents\n<\/p>\n<\/td>\n \n(includes restricted cash of $16.1 million and $16.0 million, respectively)\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 485,024<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n507,339\n<\/p>\n<\/td>\n<\/tr>\n \nMortgage loans at fair value\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 8,402,211<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9,516,537\n<\/p>\n<\/td>\n<\/tr>\n \nDerivative assets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 43,958<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n99,964\n<\/p>\n<\/td>\n<\/tr>\n \nInvestment securities at fair value, pledged\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 102,982<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n103,013\n<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable, net\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 472,299<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n417,955\n<\/p>\n<\/td>\n<\/tr>\n \nMortgage servicing rights\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3,321,457<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,969,881\n<\/p>\n<\/td>\n<\/tr>\n \nPremises and equipment, net\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 153,855<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n146,199\n<\/p>\n<\/td>\n<\/tr>\n \nOperating lease right-of-use asset\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(includes $91,208 and $92,553 with related parties)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 92,450<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n93,730\n<\/p>\n<\/td>\n<\/tr>\n \nFinance lease right-of-use asset, net\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(includes $22,221 and $22,737 with related parties)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 22,464<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23,193\n<\/p>\n<\/td>\n<\/tr>\n \nLoans eligible for repurchase from Ginnie Mae\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 750,769<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n641,554\n<\/p>\n<\/td>\n<\/tr>\n \nOther assets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 200,964<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n151,751\n<\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 14,048,433<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n15,671,116\n<\/p>\n<\/td>\n<\/tr>\n Liabilities and Equity<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nWarehouse lines of credit\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 7,573,139<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,697,744\n<\/p>\n<\/td>\n<\/tr>\n \nDerivative liabilities\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 27,922<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n35,965\n<\/p>\n<\/td>\n<\/tr>\n \nSecured line of credit\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 250,000<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n500,000\n<\/p>\n<\/td>\n<\/tr>\n \nBorrowings against investment securities\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 88,775<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n90,646\n<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable, accrued expenses and other\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 652,701<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n580,736\n<\/p>\n<\/td>\n<\/tr>\n \nAccrued distributions and dividends payable\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 159,856<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n159,827\n<\/p>\n<\/td>\n<\/tr>\n \nSenior notes\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2,786,467<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,785,326\n<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liability\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(includes $97,768 and $99,199 with related parties)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 99,010<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100,376\n<\/p>\n<\/td>\n<\/tr>\n \nFinance lease liability\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(includes $24,182 and $24,608 with related parties)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 24,445<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25,094\n<\/p>\n<\/td>\n<\/tr>\n \nLoans eligible for repurchase from Ginnie Mae\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 750,769<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n641,554\n<\/p>\n<\/td>\n<\/tr>\n Total liabilities<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 12,413,084<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,617,268\n<\/p>\n<\/td>\n<\/tr>\n Equity:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPreferred stock, $0.0001 par value – 100,000,000 shares authorized, none issued and outstanding as of March 31, 2025 or December 31, 2024\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n \nClass A common stock, $0.0001 par value – 4,000,000,000 shares authorized, 200,781,659 and 157,940,987 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 20<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16\n<\/p>\n<\/td>\n<\/tr>\n \nClass B common stock, $0.0001 par value – 1,700,000,000 shares authorized, none issued and outstanding as of March 31, 2025 or December 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n \nClass C common stock, $0.0001 par value – 1,700,000,000 shares authorized, none issued and outstanding as of March 31, 2025 or December 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n \nClass D common stock, $0.0001 par value – 1,700,000,000 shares authorized, 1,397,782,620 and 1,440,332,098 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively\n<\/p>\n<\/td>\n 140<\/b><\/p>\n<\/td>\n \n144\n<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 4,298<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,523\n<\/p>\n<\/td>\n<\/tr>\n \nRetained earnings\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 160,407<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n157,837\n<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interest\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,470,484<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,892,328\n<\/p>\n<\/td>\n<\/tr>\n Total equity<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,635,349<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,053,848\n<\/p>\n<\/td>\n<\/tr>\n Total liabilities and equity<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 14,048,433<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n15,671,116\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n UWM HOLDINGS CORPORATION<\/b><\/p>\n CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p>\n (in thousands, except shares and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n For the three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n December 31,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \nLoan production income\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 304,751<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n407,229\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n298,954\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLoan servicing income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 190,517<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n173,300\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n184,702\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 118,102<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n140,067\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n101,863\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Total revenue<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 613,370<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n720,596\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n585,519\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n MSR valuation adjustments<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of mortgage servicing rights\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (388,585<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n309,149\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(15,563\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nGain (loss) on other interest rate derivatives\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(469,538\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n MSR valuation adjustments, net<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (388,585<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(160,389\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(15,563\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n Expenses<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nSalaries, commissions and benefits\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 192,800<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n193,155\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n154,241\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDirect loan production costs\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 43,127<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n54,958\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31,436\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nMarketing, travel, and entertainment\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 22,190<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n30,771\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n19,111\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 11,340<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,094\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,340\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nGeneral and administrative\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 68,148<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n60,314\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n40,809\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nServicing costs\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 30,434<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29,866\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n30,324\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest expense\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 120,410<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n142,342\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n98,668\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nOther expense (income)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (2,848<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4,625\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(237\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n Total expenses<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 485,601<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n517,875\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n385,692\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Earnings (loss) before income taxes<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (260,816<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n42,332\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n184,264\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Provision (benefit) for income taxes<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (13,788<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,719\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,733\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Net income (loss)<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (247,028<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n40,613\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n180,531\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Net income (loss) attributable to non-controlling interest<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (233,349<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31,694\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n171,801\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Net income (loss) attributable to UWMC<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (13,679<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,919\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,730\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Earnings (loss) per share of Class A common stock:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBasic\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (0.08<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.06\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.09\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDiluted\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (0.12<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.02\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.09\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Weighted average shares outstanding:<\/b><\/p>\n<\/td>\n<\/tr>\n \nBasic\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 164,100,022<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n155,584,329\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n94,365,991\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDiluted\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,598,383,240<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,598,241,235\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,598,647,205\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Addendum to Exhibit 99.1<\/b><\/p>\n \nThis addendum includes the Company’s Consolidated Balance Sheets as of March 31, 2025, and the preceding four quarters and Statements of Operations for the quarter ended March 31, 2025, and the preceding four quarters for purposes of providing historical quarterly trending information to investors.\n<\/p>\n CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n (in thousands, except shares and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n December 31,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n September 30,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n June 30,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Assets<\/b><\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents, including restricted cash\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 485,024<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n507,339\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n636,327\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n680,153\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n605,639\n<\/p>\n<\/td>\n<\/tr>\n \nMortgage loans at fair value\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 8,402,211<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9,516,537\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,141,683\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,236,183\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,338,135\n<\/p>\n<\/td>\n<\/tr>\n \nDerivative assets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 43,958<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n99,964\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n66,977\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n54,962\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n34,050\n<\/p>\n<\/td>\n<\/tr>\n \nInvestment securities at fair value, pledged\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 102,982<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n103,013\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n108,964\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n105,593\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n108,323\n<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable, net\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 472,299<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n417,955\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n561,901\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n516,838\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n554,443\n<\/p>\n<\/td>\n<\/tr>\n \nMortgage servicing rights\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3,321,457<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,969,881\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,800,054\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,650,090\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,191,803\n<\/p>\n<\/td>\n<\/tr>\n \nPremises and equipment, net\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 153,855<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n146,199\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n147,981\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n146,750\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n145,265\n<\/p>\n<\/td>\n<\/tr>\n \nOperating lease right-of-use asset\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 92,450<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n93,730\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n95,123\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n96,474\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n97,801\n<\/p>\n<\/td>\n<\/tr>\n \nFinance lease right-of-use asset, net\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 22,464<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23,193\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n24,020\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25,061\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26,890\n<\/p>\n<\/td>\n<\/tr>\n \nLoans eligible for repurchase from Ginnie Mae\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 750,769<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n641,554\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n391,696\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n279,290\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n577,487\n<\/p>\n<\/td>\n<\/tr>\n \nOther assets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 200,964<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n151,751\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n145,072\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n130,247\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n117,498\n<\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 14,048,433<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n15,671,116\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n15,119,798\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,921,641\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,797,334\n<\/p>\n<\/td>\n<\/tr>\n Liabilities and Equity<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nWarehouse lines of credit\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 7,573,139<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,697,744\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n9,207,746\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n7,429,591\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n6,681,917\n<\/p>\n<\/td>\n<\/tr>\n \nDerivative liabilities\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 27,922<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n35,965\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n93,599\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26,171\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26,918\n<\/p>\n<\/td>\n<\/tr>\n \nSecured line of credit\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 250,000<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n500,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n300,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n200,000\n<\/p>\n<\/td>\n<\/tr>\n \nBorrowings against investment securities\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 88,775<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n90,646\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n93,662\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n91,406\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n94,064\n<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable, accrued expenses and other\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 652,701<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n580,736\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n573,865\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n486,138\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n477,765\n<\/p>\n<\/td>\n<\/tr>\n \nAccrued distributions and dividends payable\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 159,856<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n159,827\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n159,818\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n159,766\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n159,702\n<\/p>\n<\/td>\n<\/tr>\n \nSenior notes\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2,786,467<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,785,326\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,991,216\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,990,233\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,989,250\n<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liability\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 99,010<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100,376\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n101,833\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n103,247\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n104,637\n<\/p>\n<\/td>\n<\/tr>\n \nFinance lease liability\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 24,445<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25,094\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25,836\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26,787\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n28,536\n<\/p>\n<\/td>\n<\/tr>\n \nLoans eligible for repurchase from Ginnie Mae\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 750,769<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n641,554\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n391,696\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n279,290\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n577,487\n<\/p>\n<\/td>\n<\/tr>\n Total liabilities<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 12,413,084<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,617,268\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,939,271\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,592,629\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,340,276\n<\/p>\n<\/td>\n<\/tr>\n Equity:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPreferred stock, $0.0001 par value – 100,000,000 shares authorized, none issued and outstanding as of each of the periods presented\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n \nClass A common stock, $0.0001 par value – 4,000,000,000 shares authorized; shares issued and outstanding – 200,781,659 as of March 31, 2025, 157,940,987 as of December 31, 2024, 113,150,968 as of September 30, 2024, 95,587,806 as of June 30, 2024 and 94,945,635 as of March 31, 2024\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 20<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9\n<\/p>\n<\/td>\n<\/tr>\n \nClass B common stock, $0.0001 par value – 1,700,000,000 shares authorized, none issued and outstanding as of each of the periods presented\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \nClass C common stock, $0.0001 par value – 1,700,000,000 shares authorized, none issued and outstanding as of each of the periods presented\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \nClass D common stock, $0.0001 par value – 1,700,000,000 shares authorized; shares issued and outstanding – 1,397,782,620 as of March 31, 2025, 1,440,332,098 as of December 31, 2024 and 1,502,069,787 as each of the rest of periods presented\n<\/p>\n<\/td>\n 140<\/b><\/p>\n<\/td>\n \n144\n<\/p>\n<\/td>\n \n149\n<\/p>\n<\/td>\n \n150\n<\/p>\n<\/td>\n \n150\n<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 4,298<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,523\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,644\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,305\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,085\n<\/p>\n<\/td>\n<\/tr>\n \nRetained earnings\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 160,407<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n157,837\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n116,561\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n111,021\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n111,980\n<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interest\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,470,484<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,892,328\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,061,162\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,215,526\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,342,834\n<\/p>\n<\/td>\n<\/tr>\n Total equity<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,635,349<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,053,848\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,180,527\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,329,012\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,457,058\n<\/p>\n<\/td>\n<\/tr>\n Total liabilities and equity<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 14,048,433<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n15,671,116\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n15,119,798\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,921,641\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,797,334\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p>\n (in thousands, except shares and per share amounts)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n For the three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n December 31, 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n September 30,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n June 30,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLoan production income\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 304,751<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n407,229\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n465,548\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n357,109\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n298,954\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLoan servicing income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 190,517<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n173,300\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n134,753\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n143,910\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n184,702\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 118,102<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n140,067\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n145,297\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n121,394\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n101,863\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Total revenue<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 613,370<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n720,596\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n745,598\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n622,413\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n585,519\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n MSR valuation adjustments<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of mortgage servicing rights\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (388,585<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n309,149\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(446,100\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(142,485\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(15,563\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nGain (loss) on other interest rate derivatives\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(469,538\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n226,936\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n27,166\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n MSR valuation adjustments, net<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (388,585<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(160,389\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(219,164\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(115,319\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(15,563\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n Expenses<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nSalaries, commissions and benefits\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 192,800<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n193,155\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n181,453\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n160,311\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n154,241\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDirect loan production costs\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 43,127<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n54,958\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n58,398\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n45,485\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31,436\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nMarketing, travel, and entertainment\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 22,190<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n30,771\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n22,462\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n24,438\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n19,111\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 11,340<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,094\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,636\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,404\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,340\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nGeneral and administrative\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 68,148<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n60,314\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n53,664\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n55,051\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n40,809\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nServicing costs\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 30,434<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29,866\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25,009\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25,787\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n30,324\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest expense\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 120,410<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n142,342\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n141,102\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n108,651\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n98,668\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nOther expense (income)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (2,848<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4,625\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n421\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(1,105\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(237\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n Total expenses<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 485,601<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n517,875\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n494,145\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n430,022\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n385,692\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Earnings (loss) before income taxes<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (260,816<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n42,332\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n32,289\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n77,072\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n184,264\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Provision (benefit) for income taxes<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (13,788<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,719\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n344\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n786\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,733\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Net income (loss)<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (247,028<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n40,613\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31,945\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n76,286\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n180,531\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Net income (loss) attributable to non-controlling interest<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (233,349<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31,694\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n38,240\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n73,236\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n171,801\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Net income (loss) attributable to UWMC<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (13,679<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,919\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(6,295\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n3,050\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,730\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Earnings (loss) per share of Class A common stock:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBasic\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (0.08<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.06\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.06\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.03\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.09\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDiluted\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (0.12<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.02\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.06\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.03\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.09\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Weighted average shares outstanding:<\/b><\/p>\n<\/td>\n \nBasic\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 164,100,022<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n155,584,329\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n99,801,301\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n95,387,609\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n94,365,991\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDiluted\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,598,383,240<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,598,241,235\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n99,801,301\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n95,387,609\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,598,647,205\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250506538862\/en\/<\/a><\/span><\/p>\n For inquiries regarding UWM, please contact: MEDIA CONTACT KEYWORDS:<\/b> United States North America Michigan<\/p>\n INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n\n
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\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n <\/tr>\n \n \n <\/tr>\n<\/table>\n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
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\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n<\/table>\n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n Assets<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
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<\/b>INVESTOR CONTACT
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<\/b>BLAKE KOLO
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InvestorRelations@uwm.com<\/a><\/p>\n
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<\/b>NICOLE ROBERTS
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Media@uwm.com<\/a>\u00a0\n<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250506538862\/en\/2459654\/3\/UWMC_Color.jpg\")
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