According to the report, UWM posted third-quarter net income of $325.6 million, up 51.2% from $215.4 million in the previous quarter, and earned about $1 billion year-to-date. For comparison, Rocket made a small profit of $96 million in the third quarter.
“We are in the best strategic position ever at UWM as brokers grow, competitors uncommitted to the channel struggle, and retail collapses.
Pontiac-based wholesale lenders had $33.5 billion of gross originations in the third quarter. In purchase loans alone, UWM originated his $27.7 billion loan. This was the “best buying quarter” to date, up 24% from $22.4 billion in Q2 and up 5% from $26.5 billion in Q3 2021.
Read the following: Matt Ishbia predicts new refi boom ahead
“We said we dominate the buying market,” says Ishbia. “We had our best buying quarter in history, posting close to $28 billion in purchase volume. The combination of brokers and real estate partners combined with UEM’s efficiency and technology is a championship combination for American consumers.” I believe it will be.”