UWM Holdings Corporation (NYSE:UWMC) Q1 2024 Earnings Conference Call May 9, 2024 10:00 AM ET

Company Participants

Blake Kolo - Chief Business Officer and Head-Investor Relations
Mat Ishbia - Chairman and Chief Executive Officer
Andrew Hubacker - Chief Financial Officer

Conference Call Participants

Kyle Joseph - Jefferies
Eric Hagen - BTIG
Doug Harter - UBS
Bose George - KBW
Brad Capuzzi - Piper Sandler

Operator

Good morning. My name is Crysta and I will be your conference operator today. At this time, I would like to welcome everyone to the UWM Holdings Corporation First Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. [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 first quarter 2024 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. I'm really excited about this earnings call. A lot of great things to talk about, we're extremely busy here at UWM. We're hiring hundreds of new team members, preparing for the future and the opportunity, and there's a great buzz around our campus that I wish all of you guys could feel.

On our last call, I said we expected 2024 to be a better year for the housing and mortgage industry, and the first quarter supports what I expected. We are in the weeds of our business, have done a nice job executing on our game plan.

With that said, I want to touch on a couple main themes before getting into the quarterly numbers. First, the broker channel is the best place for a consumer to get a loan and is the best place for a loan officer work. Knowing this, it's great to see how much the broker channel has grown in both share and people over the last few years. More and more loan officers, consumers and real estate agents are seeing what we have already known for a long time, that the mortgage broker is the best place to get a mortgage. Consumers and real estate agents are seeing it as well. It's very exciting.