A number of brokerages, lenders and real estate tech companies have been rolling out their Q2 numbers, and we’re keep tabs on the big wins. Next up: United Wholesale Mortgage
United Wholesale Mortgage saw a 21 percent quarter-over-quarter jump in purchase loan originations, according to second quarter numbers released by the company. That sets a new record of $59.2 billion in total originations.
Net income for the quarter was $138.7 million. Additionally, UWM reports that it’s purchase volume was $24.1 billion in Q2—a 288 percent increase compared to $6.2 billion in the second quarter of 2020. Purchase loans accounted for 41 percent of the company’s loan volume.
“As we have said previously, UWM is built to succeed not only when there is a refi boom and margins are at record highs, but also when margins are compressed and purchase business drives the volume,” UWM CEO Mat Ishbia said in a statement. “Consumers are increasingly coming to realize that working with a broker is the cheapest, fastest and easiest way to get a mortgage, and as long as the wholesale channel flourishes, so will UWM as the undisputed leader and champion of the channel.”