UWM Holdings reports Q4 EPS (29c), consensus 4c

Ended 4Q23 with approximately $2.2 B of available liquidity, including $497.5M of cash, and $1.75B of available borrowing capacity, which includes $1.25 billion under lines of credit secured by agency and Ginnie Mae MSRs, and $500M under an unsecured line of creMat Ishbia, Chairman and CEO of UWMC, said, “2023 was one of the best years in our company history. We were the number one mortgage originator in America, number one in purchase origination again, and, nine years running, the number one wholesale lender. We continue to be operationally profitable, the true measure of a mortgage originator’s health, while our financial loss was driven by the MSR markdown which is a result of interest rate movements. Our recipe for success has not and will not change and we are currently doubling down on investing in our people, our products and our technology so that we can continue to provide the broker channel with the tools needed to win. I believe that 2024 is a tremendous opportunity for both UWM and the broker channel.” dit…