\nMat Ishbia, Chairman, Chief Executive Officer and President of UWMC, said, “The second quarter of 2025 was an outstanding quarter for UWM. 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. Our latest AI technologies, Mia and LEO, are two excellent examples of the leadership you\u2019ll 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. I am proud of our team and excited for what lies ahead.”<\/p>\n
Second Quarter 2025 Highlights<\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n Q2 2025<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Loan origination volume(1)<\/sup><\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 39,744,514<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n32,351,776<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n33,628,993<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total gain margin(1)(2)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1.13%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.94%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.06%<\/p>\n<\/td>\n Total revenue<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 758,700<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n613,370<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n622,413<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income (loss)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 314,479<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(247,028)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n76,286<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Diluted earnings (loss) per share<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 0.11<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.12)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.03<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted diluted earnings (loss) per share(3)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 0.16<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nN\/A<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.04<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted net income (loss) (3)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 249,429<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(195,300)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n59,809<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA(3)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 195,683<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57,803<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n133,146<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \nKey operational metric (see discussion below)<\/p>\n<\/td>\n<\/tr>\n \n(2)<\/p>\n<\/td>\n \nRepresents total loan production income divided by loan origination volume<\/p>\n<\/td>\n<\/tr>\n \n(3)<\/p>\n<\/td>\n \nNon-GAAP metric (see discussion and reconciliations below)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Q2 2025<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Cash and cash equivalents<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 489,984<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n485,024<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n680,513<\/p>\n<\/td>\n<\/tr>\n Mortgage loans at fair value<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 8,040,310<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,402,211<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,236,183<\/p>\n<\/td>\n<\/tr>\n Mortgage servicing rights<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,445,195<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,321,457<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,650,090<\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 13,886,889<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,048,433<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,921,641<\/p>\n<\/td>\n<\/tr>\n Non-funding debt (1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,323,565<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,149,687<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,108,426<\/p>\n<\/td>\n<\/tr>\n Total equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,747,982<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,635,349<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,329,012<\/p>\n<\/td>\n<\/tr>\n Non-fuding debt to equity (1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1.90<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.93<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.91<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \nNon-GAAP metric (see discussion and reconciliations below).<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Mortgage Servicing Rights <\/b>(dollars in thousands)<\/p>\n<\/td>\n<\/tr>\n Q2 2025<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Unpaid principal balance<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 211,237,964<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n214,615,072<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n189,482,798<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Weighted average interest rate<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 5.51<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.44<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.31<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n Weighted average age (months)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 19<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Second Quarter Business and Product Highlights<\/b><\/p>\n \nLE Optimizer Tool (LEO)<\/p>\n \nLoan Officer Assistant, \u201cMia\u201d<\/p>\n \nUWM LIVE!<\/p>\n Product and Investor Mix – Unpaid Principal Balance of Originations <\/b>(dollars in thousands)<\/p>\n<\/td>\n<\/tr>\n Purchase:<\/b><\/p>\n<\/td>\n Q2 2025<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Conventional<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 16,825,147<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n13,179,468<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15,650,022<\/p>\n<\/td>\n<\/tr>\n Government<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 8,358,290<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,673,499<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,298,147<\/p>\n<\/td>\n<\/tr>\n Jumbo and other (1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2,115,964<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,894,070<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,224,482<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 27,299,401<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n21,747,037<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n21,172,651<\/p>\n<\/td>\n<\/tr>\n Refinance:<\/b><\/p>\n<\/td>\n Q2 2025<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Conventional<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 5,082,559<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,339,327<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,506,853<\/p>\n<\/td>\n<\/tr>\n Government<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 5,688,192<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,699,294<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,573,514<\/p>\n<\/td>\n<\/tr>\n Jumbo and other (1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,674,362<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,566,118<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,375,975<\/p>\n<\/td>\n<\/tr>\n Total Refinance<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 12,445,113<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,604,739<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,456,342<\/p>\n<\/td>\n<\/tr>\n Total Originations<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 39,744,514<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n32,351,776<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n33,628,993<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \nComprised 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)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Third Quarter 2025 Outlook<\/b><\/p>\n \nWe anticipate third quarter production to be in the $33 to $40 billion range, with gain margin from 100 to 125 basis points.<\/p>\n Dividend<\/b><\/p>\n \nSubsequent to June 30, 2025, for the nineteenth 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 October 9, 2025, to stockholders of record at the close of business on September 18, 2025. Additionally, the Board approved a proportional distribution to SFS Corp., which is payable on or around October 9, 2025.<\/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 Thursday, August 7, 2025, at 10:00 a.m. ET to review the results and answer questions. Interested parties may register for a toll-free dial-in number by visiting: Adjusted net income<\/b><\/p>\n<\/td>\n Q2 2025<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nEarnings (loss) before income taxes<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 329,418<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(260,816<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n77,072<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted income tax (provision) benefit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (79,989<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n65,516<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17,263<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Adjusted net income (loss)<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 249,429<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(195,300<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n59,809<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Q2 2025<\/b><\/p>\n<\/td>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nDiluted weighted average Class A Common shares outstanding<\/p>\n<\/td>\n 202,133,122<\/b><\/p>\n<\/td>\n \n95,387,609<\/p>\n<\/td>\n<\/tr>\n \nAssumed pro forma conversion of Class D shares(1)<\/sup><\/p>\n<\/td>\n 1,396,892,510<\/b><\/p>\n<\/td>\n \n1,502,069,787<\/p>\n<\/td>\n<\/tr>\n \nAdjusted diluted weighted average shares outstanding(1)<\/sup><\/p>\n<\/td>\n 1,599,025,632<\/b><\/p>\n<\/td>\n \n1,597,457,396<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Adjusted Net Income (in thousands)<\/b><\/p>\n<\/td>\n 249,429<\/b><\/p>\n<\/td>\n \n59,809<\/p>\n<\/td>\n<\/tr>\n Adjusted Diluted EPS<\/b><\/p>\n<\/td>\n 0.16<\/b><\/p>\n<\/td>\n \n0.04<\/p>\n<\/td>\n<\/tr>\n \n(1) Reflects the pro forma exchange and conversion of antidilutive Class D common stock to Class A common stock<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n Q2 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n Q1 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 314,479<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(247,028<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n76,286<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest expense on non-funding debt<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 50,775<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n50,081<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,951<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProvision (benefit) for income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 14,939<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(13,788<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n786<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12,200<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,340<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,404<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 11,729<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,310<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,937<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of MSRs due to valuation inputs or assumptions<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (3,154<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n250,821<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38,222<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGain on other interest rate derivatives<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (208,904<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(27,166<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nDeferred compensation, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,773<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n914<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,169<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of Public and Private Warrants<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,309<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(685<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,739<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nChange in Tax Receivable Agreement liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,557<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(442<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of investment securities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (402<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,721<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n634<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 195,683<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n57,803<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n133,146<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Non-funding debt and non-funding debt to equity<\/b><\/p>\n<\/td>\n Q2 2025<\/b><\/p>\n<\/td>\n Q1 2025<\/b><\/p>\n<\/td>\n Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nSenior notes<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,787,797<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,786,467<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,990,233<\/p>\n<\/td>\n<\/tr>\n \nSecured lines of credit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 425,000<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n250,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nBorrowings against investment securities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 86,896<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n88,775<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n91,406<\/p>\n<\/td>\n<\/tr>\n \nFinance lease liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 23,872<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,445<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,787<\/p>\n<\/td>\n<\/tr>\n Total non-funding debt<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 3,323,565<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,149,687<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,108,426<\/p>\n<\/td>\n<\/tr>\n Total equity<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,747,982<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,635,349<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,329,012<\/p>\n<\/td>\n<\/tr>\n Non-funding debt to equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1.90<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.93<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.91<\/p>\n<\/td>\n<\/tr>\n<\/table>\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 strategic investments and product launches ; (2) our ability to adapt and scale our business when interest rates move; (3) our ability to handle our origination volume while limiting the impact on our fixed costs; (4) our position amongst our competitors and ability to capture market share; (5) our beliefs regarding opportunities in 2025 for our business and the broker channel; (6) our beliefs regarding operational profitability; (7) growth of the wholesale and broker channels, the impact of our strategies on such growth and the benefits to our business of such growth; (8) our growth and strategies to remain the leading mortgage lender, and the timing and drivers of that growth; (9) our beliefs related to the amount and timing of our dividend; (10) our expectations for future market environments, including interest rates, and the timing of such market changes; (11) our expectations related to production, gain margin and our overall success in the third quarter of 2025; (12) our performance in shifting market conditions and the comparison of such performance against our competitors; (13) our ability to produce results in future years at or above prior levels or expectations, and our strategies for producing such results; (14) our position and ability to capitalize on market opportunities and the impacts to our results and (15) our investments in technology and its 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 ability to successfully implement strategic decisions and product launches; (ii) 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 the Presidential Administration that affect interest rates and inflation; (iii) 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; (iv) UWM\u2019s ability to sell loans in the secondary market; (v) UWM\u2019s dependence on the government-sponsored entities such as Fannie Mae and Freddie Mac; (vi) changes in the GSEs, FHA, USDA and VA guidelines or GSE and Ginnie Mae guarantees; (vii) our ability to comply with all rules and regulations in connection with the launch of our internal servicing; (viii) UWM\u2019s dependence on Independent Mortgage Advisors to originate mortgage loans; (ix) 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; (x) UWM\u2019s inability to continue to grow, or to effectively manage the growth of its loan origination volume; (xi) UWM\u2019s ability to continue to attract and retain its broker relationships; (xii) UWM\u2019s ability to implement technological innovation, such as AI in our operations; (xiii) the occurrence of a data breach or other failure of UWM\u2019s cybersecurity or information security systems; (xiv) the occurrence of data breaches or other cybersecurity failures at our third-party sub-servicers or other third-party vendors; (xv) 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 (xvi) 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.<\/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.<\/p>\n UWM HOLDINGS CORPORATION<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except shares and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n June 30,<\/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 \nCash and cash equivalents<\/p>\n \n(includes restricted cash of $16.1 million and $16.0 million, respectively)<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 489,984<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n507,339<\/p>\n<\/td>\n<\/tr>\n \nMortgage loans at fair value<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 8,040,310<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,516,537<\/p>\n<\/td>\n<\/tr>\n \nDerivative assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 59,356<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99,964<\/p>\n<\/td>\n<\/tr>\n \nInvestment securities at fair value, pledged<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 101,627<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n103,013<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 719,369<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n417,955<\/p>\n<\/td>\n<\/tr>\n \nMortgage servicing rights<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,445,195<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,969,881<\/p>\n<\/td>\n<\/tr>\n \nPremises and equipment, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 166,460<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n146,199<\/p>\n<\/td>\n<\/tr>\n \nOperating lease right-of-use asset<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(includes $89,877 and $92,553 with related parties)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 91,004<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n93,730<\/p>\n<\/td>\n<\/tr>\n \nFinance lease right-of-use asset, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(includes $21,704 and $22,737 with related parties)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 21,810<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,193<\/p>\n<\/td>\n<\/tr>\n \nLoans eligible for repurchase from Ginnie Mae<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 564,806<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n641,554<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 186,968<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n151,751<\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 13,886,889<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15,671,116<\/p>\n<\/td>\n<\/tr>\n Liabilities and Equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWarehouse lines of credit<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 7,254,526<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n8,697,744<\/p>\n<\/td>\n<\/tr>\n \nDerivative liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 76,683<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,965<\/p>\n<\/td>\n<\/tr>\n \nSecured line of credit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 425,000<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n500,000<\/p>\n<\/td>\n<\/tr>\n \nBorrowings against investment securities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 86,896<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n90,646<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable, accrued expenses and other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 661,496<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n580,736<\/p>\n<\/td>\n<\/tr>\n \nAccrued distributions and dividends payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 160,360<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n159,827<\/p>\n<\/td>\n<\/tr>\n \nSenior notes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2,787,797<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,785,326<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(includes $96,343 and $99,199 with related parties)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 97,471<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n100,376<\/p>\n<\/td>\n<\/tr>\n \nFinance lease liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(includes $23,757 and $24,608 with related parties)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 23,872<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,094<\/p>\n<\/td>\n<\/tr>\n \nLoans eligible for repurchase from Ginnie Mae<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 564,806<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n641,554<\/p>\n<\/td>\n<\/tr>\n Total liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12,138,907<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,617,268<\/p>\n<\/td>\n<\/tr>\n Equity:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPreferred stock, $0.0001 par value – 100,000,000 shares authorized, none issued and outstanding as of June 30, 2025 or December 31, 2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nClass A common stock, $0.0001 par value – 4,000,000,000 shares authorized, 205,979,563 and 157,940,987 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n 21<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n16<\/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 June 30, 2025 or December 31, 2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/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 June 30, 2025 or December 31, 2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nClass D common stock, $0.0001 par value – 1,700,000,000 shares authorized, 1,393,282,620 and 1,440,332,098 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 139<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n144<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 5,688<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,523<\/p>\n<\/td>\n<\/tr>\n \nRetained earnings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 170,320<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n157,837<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interest<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,571,814<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,892,328<\/p>\n<\/td>\n<\/tr>\n Total equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,747,982<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,053,848<\/p>\n<\/td>\n<\/tr>\n Total liabilities and equity<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 13,886,889<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15,671,116<\/p>\n<\/td>\n<\/tr>\n<\/table>\n UWM HOLDINGS CORPORATION<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except shares and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n For the three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n June 30,<\/b><\/p>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoan production income<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 447,882<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n304,751<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n357,109<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoan servicing income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 178,813<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n190,517<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n143,910<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 132,005<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n118,102<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n121,394<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 758,700<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n613,370<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n622,413<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Other gains (losses)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of mortgage servicing rights<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (111,421<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(388,585<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(142,485<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nGain on other interest rate derivatives<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 208,904<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,166<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Other gains (losses), net<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 97,483<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(388,585<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(115,319<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Expenses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSalaries, commissions and benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 211,461<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n192,800<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n160,311<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDirect loan production costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 46,330<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n43,127<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n45,485<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nMarketing, travel, and entertainment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 26,379<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,190<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,438<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12,200<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,340<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,404<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGeneral and administrative<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 59,999<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68,148<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55,051<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nServicing costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 35,083<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,434<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,787<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 133,467<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n120,410<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n108,651<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther expense (income)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,846<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,848<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,105<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Total expenses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 526,765<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n485,601<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n430,022<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Earnings (loss) before income taxes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 329,418<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(260,816<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n77,072<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Provision (benefit) for income taxes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 14,939<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(13,788<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n786<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income (loss)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 314,479<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(247,028<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n76,286<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income (loss) attributable to non-controlling interest<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 291,570<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(233,349<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n73,236<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income (loss) attributable to UWMC<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 22,909<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(13,679<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,050<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Earnings (loss) per share of Class A common stock:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.11<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.08<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.03<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.11<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.12<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.03<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Weighted average shares outstanding:<\/b><\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 202,133,122<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n164,100,022<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95,387,609<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 202,133,122<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,598,383,240<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95,387,609<\/p>\n<\/td>\n \n\u00a0<\/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 June 30, 2025, and the preceding four quarters and Statements of Operations for the quarter ended June 30, 2025, and the preceding four quarters for purposes of providing historical quarterly trending information to investors.<\/p>\n CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except shares and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n 2025<\/b><\/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<\/tr>\n Assets<\/b><\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n (Unaudited)<\/b><\/p>\n<\/td>\n \n\u00a0<\/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<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 489,984<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n485,024<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n507,339<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n636,327<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n680,153<\/p>\n<\/td>\n<\/tr>\n \nMortgage loans at fair value<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 8,040,310<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,402,211<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,516,537<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,141,683<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,236,183<\/p>\n<\/td>\n<\/tr>\n \nDerivative assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 59,356<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n43,958<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99,964<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n66,977<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n54,962<\/p>\n<\/td>\n<\/tr>\n \nInvestment securities at fair value, pledged<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 101,627<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n102,982<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n103,013<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n108,964<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n105,593<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 719,369<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n472,299<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n417,955<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n561,901<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n516,838<\/p>\n<\/td>\n<\/tr>\n \nMortgage servicing rights<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,445,195<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,321,457<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,969,881<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,800,054<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,650,090<\/p>\n<\/td>\n<\/tr>\n \nPremises and equipment, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 166,460<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n153,855<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n146,199<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n147,981<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n146,750<\/p>\n<\/td>\n<\/tr>\n \nOperating lease right-of-use asset<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 91,004<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n92,450<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n93,730<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95,123<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n96,474<\/p>\n<\/td>\n<\/tr>\n \nFinance lease right-of-use asset, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 21,810<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,464<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,193<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,020<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,061<\/p>\n<\/td>\n<\/tr>\n \nLoans eligible for repurchase from Ginnie Mae<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 564,806<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n750,769<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n641,554<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n391,696<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n279,290<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 186,968<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n200,964<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n151,751<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n145,072<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n130,247<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 13,886,889<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,048,433<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15,671,116<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15,119,798<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,921,641<\/p>\n<\/td>\n<\/tr>\n Liabilities and Equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWarehouse lines of credit<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 7,254,526<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7,573,139<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n8,697,744<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,207,746<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7,429,591<\/p>\n<\/td>\n<\/tr>\n \nDerivative liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 76,683<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,922<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,965<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n93,599<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,171<\/p>\n<\/td>\n<\/tr>\n \nSecured line of credit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 425,000<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n250,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n500,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n300,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nBorrowings against investment securities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 86,896<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n88,775<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n90,646<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n93,662<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n91,406<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable, accrued expenses and other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 661,496<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n652,701<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n580,736<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n573,865<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n486,138<\/p>\n<\/td>\n<\/tr>\n \nAccrued distributions and dividends payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 160,360<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n159,856<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n159,827<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n159,818<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n159,766<\/p>\n<\/td>\n<\/tr>\n \nSenior notes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2,787,797<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,786,467<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,785,326<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,991,216<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,990,233<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 97,471<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99,010<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n100,376<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n101,833<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n103,247<\/p>\n<\/td>\n<\/tr>\n \nFinance lease liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 23,872<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,445<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,094<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,836<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,787<\/p>\n<\/td>\n<\/tr>\n \nLoans eligible for repurchase from Ginnie Mae<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 564,806<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n750,769<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n641,554<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n391,696<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n279,290<\/p>\n<\/td>\n<\/tr>\n Total liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12,138,907<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,413,084<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,617,268<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,939,271<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,592,629<\/p>\n<\/td>\n<\/tr>\n Equity:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/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<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nClass A common stock, $0.0001 par value – 4,000,000,000 shares authorized; shares issued and outstanding – 205,979,563 as of June 30, 2025, 200,781,659 as of March 31, 2025, 157,940,987 as of December 31, 2024, 113,150,968 as of September 30, 2024 and 95,587,806 as of June 30, 2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n 21<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n20<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n16<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n11<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n10<\/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<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/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 each of the periods presented<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nClass D common stock, $0.0001 par value – 1,700,000,000 shares authorized; shares issued and outstanding – 1,393,282,620 as of June 30, 2025, 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<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n 139<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n140<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n144<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n149<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n150<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 5,688<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,523<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,644<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,305<\/p>\n<\/td>\n<\/tr>\n \nRetained earnings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 170,320<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n160,407<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n157,837<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n116,561<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n111,021<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interest<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,571,814<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,470,484<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,892,328<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,061,162<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,215,526<\/p>\n<\/td>\n<\/tr>\n Total equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,747,982<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,635,349<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,053,848<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,180,527<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,329,012<\/p>\n<\/td>\n<\/tr>\n Total liabilities and equity<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 13,886,889<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,048,433<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15,671,116<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15,119,798<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,921,641<\/p>\n<\/td>\n<\/tr>\n<\/table>\n CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except shares and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n For the three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n June 30,<\/b><\/p>\n 2025<\/b><\/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<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoan production income<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 447,882<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n304,751<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n407,229<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n465,548<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n357,109<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoan servicing income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 178,813<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n190,517<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n173,300<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n134,753<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n143,910<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 132,005<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n118,102<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n140,067<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n145,297<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n121,394<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 758,700<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n613,370<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n720,596<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n745,598<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n622,413<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Other gains (losses)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of mortgage servicing rights<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (111,421<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(388,585<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n309,149<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(446,100<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(142,485<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nGain (loss) on other interest rate derivatives<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 208,904<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(469,538<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n226,936<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,166<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Other gains (losses), net<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 97,483<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(388,585<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(160,389<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(219,164<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(115,319<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Expenses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSalaries, commissions and benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 211,461<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n192,800<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n193,155<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n181,453<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n160,311<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDirect loan production costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 46,330<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n43,127<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n54,958<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n58,398<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n45,485<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nMarketing, travel, and entertainment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 26,379<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,190<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,771<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,462<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,438<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12,200<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,340<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,094<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,636<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,404<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGeneral and administrative<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 59,999<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68,148<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60,314<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n53,664<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55,051<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nServicing costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 35,083<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,434<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,866<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,009<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,787<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 133,467<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n120,410<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n142,342<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n141,102<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n108,651<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther expense (income)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,846<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,848<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,625<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n421<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,105<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Total expenses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 526,765<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n485,601<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n517,875<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n494,145<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n430,022<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Earnings (loss) before income taxes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 329,418<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(260,816<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42,332<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32,289<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n77,072<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Provision (benefit) for income taxes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 14,939<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(13,788<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,719<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n344<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n786<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income (loss)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 314,479<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(247,028<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40,613<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,945<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n76,286<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income (loss) attributable to non-controlling interest<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 291,570<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(233,349<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,694<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38,240<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n73,236<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income (loss) attributable to UWMC<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 22,909<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(13,679<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n8,919<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(6,295<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,050<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Earnings (loss) per share of Class A common stock:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.11<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.08<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.06<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.06<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.03<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.11<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.12<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.02<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.06<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.03<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Weighted average shares outstanding:<\/b><\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 202,133,122<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n164,100,022<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n155,584,329<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99,801,301<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95,387,609<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 202,133,122<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,598,383,240<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,598,241,235<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99,801,301<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95,387,609<\/p>\n<\/td>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250807331197\/en\/<\/a><\/span><\/p>\n For inquiries regarding UWM, please contact:<\/p>\n INVESTOR CONTACT MEDIA CONTACT KEYWORDS:<\/b> United States North America Michigan<\/p>\n INDUSTRY KEYWORDS:<\/b> REIT Finance Banking Professional Services Construction & Property<\/p>\n MEDIA:<\/b><\/p>\n\n
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\n Production and Income Statement Highlights <\/b>(dollars in thousands, except per share amounts<\/td>\n<\/tr>\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 <\/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
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\n Balance Sheet Highlights as of Period-end <\/b>(dollars in thousands)<\/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 \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
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\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 Total Purchase<\/b><\/td>\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
https:\/\/registrations.events\/direct\/Q4I3508361<\/a><\/p>\n\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n Adjusted Diluted EP<\/b><\/td>\n \n \u00a0<\/td>\n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \u00a0<\/td>\n \n \n
\n \n \n \u00a0<\/td>\n \n \n \n \n \u00a0<\/td>\n \n \n \n \n
\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n
\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets<\/b><\/td>\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 <\/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 \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Total assets<\/b><\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\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 <\/tr>\n<\/table>\n <\/p>\n
\n<\/b>
BLAKE KOLO
\n
InvestorRelations@uwm.com
\n<\/a><\/p>\n
\n<\/b>
NICOLE ROBERTS
\n
Media@uwm.com<\/a><\/p>\n