UWM Holdings Corporation (NYSE:UWMC) Q4 2023 Earnings Conference Call February 28, 2024 10:30 AM ET

Company Participants

Blake Kolo - Head, Investor Relations

Mat Ishbia - Chairman and Chief Executive Officer

Andrew Hubacker - Chief Financial Officer

Conference Call Participants

Kyle Joseph - Jefferies

Bose George - KBW

Steve Delaney - Citizens JMP

Doug Harter - UBS

Jeff Adelson - Morgan Stanley

Mark DeVries - Deutsche Bank

Eric Hagen - BTIG

Operator

Good morning. My name is Regina and I will be your conference operator today. At this time, I would like to welcome everyone to the UWM Holdings Corporation Fourth Quarter 2023 and Full Year 2023 Earnings Conference Call. [Operator Instructions] Thank you. Blake Kolo, you may begin your conference.

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 fourth quarter and full year 2023 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 us today. Let’s jump right into a couple of thoughts. First off, 2023 was one of the best years in UWM’s history. It wasn’t the year that standout from a financial perspective, but will stand out from a dominance perspective. We separated from our competitors significantly on market share, growth, operational earnings and strategic investments. It was our second year as the number one overall lender. It was our third consecutive year as the number one purchase lender and our ninth consecutive year as the number one wholesale lender. As you heard me say many times before, the best mortgage companies shine in high rate markets and that’s exactly what we have done consistently here at UWM.

While there have been a lot of commentary about higher interest rates on the overall mortgage environment this year, UWM delivered our best purchase year of all time with almost $94 billion of purchase, about $20.7 billion of that being in the fourth quarter. We ended the year with over $108 billion of overall production and record market share across the board.