UWM Holdings reports Q2 EPS 4c, consensus 7c

Reports Q2 revenue $507.1M, consensus $527.31M. Mat Ishbia, Chairman and CEO of UWMC, said, “The second quarter was another strong quarter, by all measures, for UWM and the wholesale channel. We collectively continue to dominate the current purchase market while investing and preparing for lower rates ahead. Our momentum is building, with margins and production both up year over year, and our focus remains on our best-in-class people, process and technology. UWM and the mortgage broker community are in a position of strength. With wholesale channel market share at a 15-year high, we are in a prime position to capitalize and grow when rates inevitably drop. UWM has never been as prepared for the upcoming opportunity as we are now.”