UWM Holdings Corporation (NYSE:UWMC) Q2 2022 Earnings Conference Call August 9, 2022 10:00 AM ET

Company Participants

Blake Kolo - Chief Business Officer and Head of IR

Mat Ishbia - Chairman and CEO

Andrew Hubacker - Senior VP and Chief Accounting Officer and Interim Principal Financial Officer.

Conference Call Participants

Bose George - KBW

Kevin Barker - Piper Sandler

Doug Harter - Credit Suisse

Eric Hagen - BTIG

James Faucette - Morgan Stanley

Steve DeLaney - JMP Securities

Jay McCanless - Wedbush

Kyle Joseph - Jefferies

Mark DeVries - Barclays

Courtney Bahlman - Barclays

Michael Kaye - Wells Fargo

Operator

Good morning. My name is Tamika, and I'll be your conference operator today. At this time, I would like to welcome everyone to the UWM Holdings Corporation's Second Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be a question and answer session. [Operator Instructions]. Thank you.

Blake Kolo, you may begin.

Blake Kolo

Good morning. This is Blake Kolo, Chief Business Officer and Head of Investor Relations. Thank you for joining us and welcome to the second quarter 2022 UWM Holdings Corporation's earnings call.

Before we start, I would like to remind everyone that this conference call includes forward-looking statements. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the earnings release that we issued this morning.

I will now turn the call over to Mat Ishbia, Chairman and CEO of UWM Holdings Corporation, and United Wholesale Mortgage.

Mat Ishbia

Thanks Blake, and thank you everyone for joining the call today. Really appreciate it. Before we get started, I think its most important that I first recognize the life of Tim Forrester, my CFO, who recently passed. He was a great man until love these calls with all of you and was a huge part of our growth and success at UWM, and he will be missed. I like to take quick moment as silence in memory of Tim Forrester.

As hard as this is to transition, let's get into the highlights of our second quarter with very strong results. First, we close $29.9 billion of mortgage production for the quarter, $22.4 billion of this was purchased volume, 17% higher than our first quarter purchase volume. This is a dominant number. And we continue to demonstrate that we are the number one purchase lender in America.