Form 8-K

8-K — UWM Holdings Corp

Accession: 0001783398-26-000047

Filed: 2026-05-06

Period: 2026-05-06

CIK: 0001783398

SIC: 6162 (MORTGAGE BANKERS & LOAN CORRESPONDENTS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — xbrl-20260506.htm (Primary)

EX-99.1 (q12026ex-991pressrelease.htm)

GRAPHIC — GRAPHIC IMAGE (uwmc_colorlogoa.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: xbrl-20260506.htm · Sequence: 1

xbrl-20260506

FALSE000178339800017833982026-05-062026-05-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 6, 2026

UWM Holdings Corporation

(Exact Name of Registrant as Specified in Charter)

Delaware 001-39189 84-2124167

(State or other jurisdiction

of incorporation) (Commission

File Number) (I.R.S. Employer

Identification Number)

585 South Boulevard E.

Pontiac,

Michigan 48341

(Address of principal executive offices)

(Zip Code)

(800) 981-8898

(Registrant’s telephone number, including area code)

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

Symbol(s) Name of each exchange

on which registered

Class A Common Stock, par value $0.0001 per share UWMC New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 6, 2026, UWM Holdings Corporation, (the “Company”) issued a press release announcing its results for the first quarter ended March 31, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.

Item 7.01 Regulation FD Disclosure.

On May 6, 2026, the Company announced that its Board of Directors had declared a cash dividend of $0.10 per share on the outstanding shares of Class A common stock. The dividend is payable on July 9, 2026, to stockholders of record at the close of business on June 18, 2026. Additionally, the Board approved a proportional distribution to SFS Corp., which is payable on or about July 9, 2026. To the extent required by law, the Company will post Form 8937, with respect to the U.S. federal income tax characteristics of this dividend, to its website at investors.uwm.com.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

As described in Item 2.02 of this Current Report on Form 8-K, the following exhibits are furnished as part of this Current Report.

Exhibit

No. Description

99.1

Press release dated May 6, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 6, 2026

UWM HOLDINGS CORPORATION

By: /s/ Rami Hasani

Name: Rami Hasani

Title: Executive Vice President, Chief Financial Officer

EX-99.1

Filename: q12026ex-991pressrelease.htm · Sequence: 2

Document

Exhibit 99.1

UWM Holdings Corporation Announces

First Quarter 2026 Results

Loan Origination Volume of $44.9 Billion; Net income of $170.4 million

PONTIAC, MI, May 6, 2026 - UWM Holdings Corporation (NYSE: UWMC) (“UWMC” or the “Company”), the publicly traded indirect parent of United Wholesale Mortgage (“UWM”), today announced its results for the first quarter ended March 31, 2026. Total loan origination volume was $44.9 billion for the first quarter 2026, up 39% year-over-year, and the second-highest first quarter production in company history. The Company reported 1Q26 total revenue of $901.4 million, net income of $170.4 million and adjusted EBITDA of $160.9 million.

Mat Ishbia, Chairman, Chief Executive Officer and President of UWMC, said, “Q1 was an exceptional quarter for UWM and our second‑best first quarter of all time. The last time we delivered results of this magnitude, interest rates were nearly 50% lower, which underscores the strength, scale and resilience of our business. Our team and broker partners executed at the highest level, using UWM’s proprietary technology and AI‑powered tools like Mia to win more loans, more efficiently, every day. We continue to move ahead of schedule with bringing servicing in‑house, and regardless of whether rates stay higher or move lower, we are positioned to keep winning as we are built to perform through all cycles. This quarter is a clear proof point of that.”

First Quarter 2026 Highlights

•Originations of $44.9 billion in 1Q26, compared to $49.6 billion in 4Q25 and $32.4 billion in 1Q25

•Purchase originations of $18.7 billion in 1Q26, compared to $18.9 billion in 4Q25 and $21.7 billion in 1Q25

•Refinance originations of $26.3 billion in 1Q26, compared to $30.7 billion in 4Q25 and $10.6 billion in 1Q25

•Total gain margin of 123 bps in 1Q26 compared to 122 bps in 4Q25 and 94 bps in 1Q25

•Total revenue of $901.4 million in 1Q26 compared to $945.2 million in 4Q25 and $613.4 million in 1Q25

•Net income of $170.4 million in 1Q26 compared to net income of $164.5 million in 4Q25 and net loss of $247.0 million in 1Q25

•Adjusted EBITDA of $160.9 million in 1Q26 compared to $232.8 million in 4Q25 and $57.8 million in 1Q25

•Total equity of $1.60 billion at March 31, 2026, compared to $1.59 billion at December 31, 2025, and $1.64 billion at March 31, 2025

•Unpaid principal balance of MSRs of $229.5 billion with a WAC of 5.90% at March 31, 2026, compared to $240.8 billion with a WAC of 5.65% at December 31, 2025, and $214.6 billion with a WAC of 5.44% at March 31, 2025

•Ended 1Q26 with approximately $1.3 billion of available liquidity, reflecting $424.0 million of cash plus available borrowing capacity under our secured and unsecured lines of credit

Production and Income Statement Highlights (dollars in thousands, except per share amounts)

Q1 2026 Q4 2025 Q1 2025

Loan origination volume(1)

$ 44,944,156 $ 49,608,104 $ 32,351,776

Total gain margin(1)(2)

1.23% 1.22% 0.94 %

Total revenue

$ 901,427 $ 945,247 $ 613,370

Net income (loss)

170,374 164,484 (247,028)

Diluted earnings (loss) per share

0.09 0.08 (0.12)

Adjusted diluted earnings per share(3)

N/A

0.08 N/A

Adjusted net income (loss) (3)

137,154 130,561 (195,300)

Adjusted EBITDA(3)

160,909 232,778 57,803

(1) Key operational metric (see discussion below)

(2) Represents total loan production income divided by loan origination volume

(3) Non-GAAP metric (see discussion and reconciliations below)

Balance Sheet Highlights as of Period-end (dollars in thousands)

Q1 2026 Q4 2025 Q1 2025

Cash and cash equivalents $ 423,996 $ 503,364 $ 485,024

Mortgage loans at fair value 10,991,101 9,932,729 8,402,211

Mortgage servicing rights 4,591,855 4,073,781 3,321,457

Total assets 19,266,244 16,928,676 14,048,433

Non-funding debt (1)

5,092,831 4,292,940 3,149,687

Total equity 1,600,901 1,593,629 1,635,349

Non-funding debt to equity (1)

3.18 2.69 1.93

(1) Non-GAAP metric (see discussion and reconciliations below)

Mortgage Servicing Rights (dollars in thousands)

Q1 2026 Q4 2025 Q1 2025

Unpaid principal balance $ 229,503,024 $ 240,813,979 $ 214,615,072

Weighted average interest rate 5.90 % 5.65 % 5.44 %

Weighted average age (months) 17 18 19

First Quarter Business and Product Highlights:

In-House Servicing Progress

•All new loans are now on UWM’s proprietary servicing platform and on pace to have substantially all loans serviced in-house by October 2026, ahead of the previously communicated timeline. This milestone is expected to drive meaningful improvements in borrower retention, expenses, and long-term shareholder value.

Bilt Built-In Rewards

•As part of UWM’s strategic collaboration with Bilt, a leading payments and rewards platform, UWM continues to roll out Built‑In Rewards, giving broker partners a powerful new way to differentiate themselves. With UWM now servicing loans in-house, borrowers can earn rewards automatically on every on‑time digital mortgage payment, redeemable for dining, grocery and pharmacy purchases, travel or future principal‑only mortgage payments.

Product and Investor Mix - Unpaid Principal Balance of Originations (dollars in thousands)

Purchase: Q1 2026 Q4 2025 Q1 2025

Conventional $ 10,598,851 $ 10,208,384 $ 13,179,468

Government 6,622,457 6,741,182 6,673,499

Jumbo and other (1)

1,443,526 1,970,160 1,894,070

Total Purchase $ 18,664,834 $ 18,919,726 $ 21,747,037

Refinance: Q1 2026 Q4 2025 Q1 2025

Conventional $ 12,113,599 $ 15,042,112 $ 4,339,327

Government 12,268,457 13,135,275 4,699,294

Jumbo and other (1)

1,897,266 2,510,991 1,566,118

Total Refinance $ 26,279,322 $ 30,688,378 $ 10,604,739

Total Originations $ 44,944,156 $ 49,608,104 $ 32,351,776

(1) Comprised of non-agency jumbo products, construction loans, and non-qualified mortgage products, including home equity lines of credit ("HELOCs") (which in many instances are second liens)

Dividend

Subsequent to March 31, 2026, for the 22nd consecutive quarter, the Company's Board of Directors declared a cash dividend of $0.10 per share on the outstanding shares of Class A common stock. The dividend is payable on July 9, 2026, to stockholders of record at the close of business on June 18, 2026. Additionally, the Board approved a proportional distribution to SFS Corp., which is payable on or around July 9, 2026.

Earnings Conference Call Details

As previously announced, the Company will hold a conference call for financial analysts and investors on Wednesday, May 6, 2026, at 11:00 a.m. ET to review the results. Interested parties may register for a toll-free dial-in number by visiting:

https://uwm.zoom.us/webinar/register/WN_eZ1x8OrhQjWXUFFZTYD47A

Please dial in at least 15 minutes in advance to ensure a timely connection to the call. Replay and supporting materials will be available on the Company's investor relations website at https://investors.uwm.com/.

Key Operational Metrics

“Loan origination volume” and “Total gain margin” are key operational metrics that the Company's management uses to evaluate the performance of the business. “Loan origination volume” is the aggregate principal of the residential mortgage loans originated by the Company during a period. “Total gain margin” represents total loan production income divided by loan origination volume for the applicable periods.

Non-GAAP Metrics

The Company's net income does not reflect the income tax provision that would otherwise be reflected if 100% of the economic interest in UWM was owned by the Company. Therefore, for comparison purposes, the Company provides “Adjusted net income (loss),” which is our pre-tax income (loss) together with an adjusted income tax provision (benefit), which is calculated as the provision for income taxes plus the tax effects of net income attributable to non-controlling interest determined using a blended statutory effective tax rate. “Adjusted net income (loss)” is a non-GAAP metric. “Adjusted diluted EPS” is defined as “Adjusted net income (loss)” divided by the weighted average number of shares of Class A common stock outstanding for the applicable period, assuming the exchange and conversion of all outstanding Class D common stock for Class A common stock, and is calculated and presented for periods in which the assumed exchange and conversion of Class D common stock to Class A common stock is anti-dilutive to EPS.

We also disclose Adjusted EBITDA, which we define as earnings before interest expense on non-funding debt, provision for income taxes, depreciation and amortization, adjusted to exclude stock-based compensation expense, the change in fair value of MSRs due to valuation inputs or assumptions, gains or losses on other interest rate derivatives, the impact of non-cash deferred compensation expense, the change in fair value of the Public and Private Warrants, the non-cash income/expense impact of the change in the Tax Receivable Agreement liability, the change in fair value of retained investment securities, and acquisition-related expenses (net of recoveries) as we believe these adjustments are not indicative of our performance or results of operations. Adjusted EBITDA includes interest expense on funding facilities, which are recorded as a component of interest expense, as these expenses are a direct operating expense driven by loan origination volume. By contrast, interest expense on non-funding debt is a function of our capital structure and is therefore excluded from Adjusted EBITDA. Non-funding debt includes the Company's senior notes, lines of credit, borrowings against investment securities, and finance leases.

In addition, we disclose “Non-funding debt” and the “Non-funding debt-to-equity ratio” as a non-GAAP metric. We define “Non-funding debt” as the total of the Company's senior notes, lines of credit, borrowings against investment securities, and finance leases and the “Non-funding debt-to-equity ratio” as total non-funding debt divided by the Company’s total equity.

Management believes that these non-GAAP metrics provide useful information to investors. These measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for any other operating performance measure calculated in accordance with GAAP and may not be comparable to a similarly titled measure reported by other companies.

The following tables set forth the reconciliations of these non-GAAP financial measures to their most directly comparable financial measure calculated in accordance with GAAP (dollars in thousands, except per share amounts):

Adjusted net income

Q1 2026 Q4 2025 Q1 2025

Earnings (loss) before income taxes

$ 177,500 $ 169,624 $ (260,816)

Adjusted income tax (provision) benefit

(40,346) (39,063) 65,516

Adjusted net income (loss)

$ 137,154 $ 130,561 $ (195,300)

Adjusted Diluted EPS Q4 2025

Diluted weighted average Class A Common shares outstanding

256,913,262

Assumed pro forma conversion of Class D shares(1)

1,342,939,142

Adjusted diluted weighted average shares outstanding(1)

1,599,852,404

Adjusted Net Income (in thousands) 130,561

Adjusted Diluted EPS 0.08

(1) Reflects the pro forma exchange and conversion of antidilutive Class D common stock to Class A common stock

Adjusted EBITDA Q1 2026 Q4 2025 Q1 2025

Net income (loss)

$ 170,374 $ 164,484 $ (247,028)

Interest expense on non-funding debt 70,727 61,829 50,081

Provision (benefit) for income taxes

7,126 5,140 (13,788)

Depreciation and amortization 14,385 13,757 11,340

Stock-based compensation expense 13,162 15,592 8,310

Change in fair value of MSRs due to valuation inputs or assumptions, net (247,897) 28,758 250,821

(Gain) loss on other interest rate derivatives 138,198 (61,409) —

Deferred compensation, net 2,250 2,235 914

Change in fair value of Public and Private Warrants

— (1,519) (685)

Change in Tax Receivable Agreement liability

1,903 (12) (442)

Change in fair value of investment securities 303 (1,043) (1,721)

Acquisition-related expenses (net of recoveries)

(9,622) 4,966 —

Adjusted EBITDA $ 160,909 $ 232,778 $ 57,803

Non-funding debt and non-funding debt to equity Q1 2026 Q4 2025 Q1 2025

Senior notes $ 2,983,152 $ 2,981,975 $ 2,786,467

Secured lines of credit 2,000,000 1,200,000 250,000

Borrowings against investment securities 86,724 87,497 88,775

Finance lease liability 22,955 23,468 24,445

Total non-funding debt $ 5,092,831 $ 4,292,940 $ 3,149,687

Total equity $ 1,600,901 $ 1,593,629 $ 1,635,349

Non-funding debt to equity 3.18 2.69 1.93

Cautionary Note Regarding Forward-Looking Statements

This press release and our earnings call include forward-looking statements. These forward-looking statements are generally identified using words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict” and similar words indicating that these reflect our views with respect to future events. Forward-looking statements in this press release and our earnings call include statements regarding: (1) the benefits of our business model; (2) our strategic collaboration with Bilt; (3) our position amongst our competitors and ability to capture market share and maintain our industry leading position; (4) the timing of in-house servicing and our beliefs regarding our servicing operations; (5) our beliefs regarding opportunities in the broker channel; (6) growth of the wholesale and broker channels, the impact of our strategies on such growth and the benefits to our business of such growth; (7) our growth and strategies to remain the leading mortgage lender, and the timing and drivers of that growth; (8) our beliefs related to the amount and timing of our dividend; (9) our expectations for future market environments, including interest rates, and the timing of such market changes; (10) our performance in shifting market conditions and the comparison of such performance against our competitors; (11) our ability to produce results in future years at or above prior levels or expectations, and our strategies for producing such results; (12) our position and ability to capitalize on market opportunities and the impacts to our results and (13) our investments in technology, including artificial intelligence, and its impact to our operations, ability to scale and financial results. These statements are based on management’s current expectations, but are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to materially differ from those stated or implied in the forward-looking statements, including: (i) UWM’s ability to successfully implement strategic decisions and product launches; (ii) UWM’s dependence on macroeconomic and U.S. residential real estate market conditions, including changes in U.S. monetary policies, more specifically caused by the Presidential Administration that affect interest rates and inflation; (iii) UWM’s reliance on its warehouse and MSR facilities and the risk of a decrease in the value of the collateral underlying certain of its facilities causing an unanticipated margin call; (iv) UWM’s ability to sell loans in the secondary market; (v) UWM’s dependence on the government-sponsored entities such as Fannie Mae and Freddie Mac; (vi) changes in the GSEs, FHA, USDA and VA guidelines or GSE and Ginnie Mae guarantees; (vii) our ability to comply with all rules and regulations in connection with the launch of our internal servicing and the new risks that may be presented as a result of the transition; (viii) UWM’s dependence on Independent Mortgage Advisors to originate mortgage loans; (ix) the risk that an increase in the value of the MBS UWM sells in forward markets to hedge its pipeline may result in an unanticipated margin call; (x) UWM’s inability to continue to grow, or to effectively manage the growth of its loan origination volume; (xi) UWM’s ability to continue to attract and retain its broker relationships; (xii) UWM’s ability to implement technological innovation, such as AI in our operations; (xiii) the occurrence of a data breach or other failure of UWM’s cybersecurity or information security systems; (xiv) reliance on third-party software and services; the occurrence of data breaches or other cybersecurity failures at our third-party sub-servicers or other third-party vendors; (xv) UWM’s ability to continue to comply with the complex state and federal laws, regulations or practices applicable to mortgage loan origination and servicing in general; and (xvi) other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission including those under “Risk Factors” therein. We wish to caution readers that certain important factors may have affected and could in the future affect our results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of us. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

About UWM Holdings Corporation and United Wholesale Mortgage

Headquartered in Pontiac, Michigan, UWM Holdings Corporation (“UWMC”) is the publicly traded indirect parent of United Wholesale Mortgage, LLC (“UWM”). UWM is the nation’s largest home mortgage lender, despite exclusively originating mortgage loans through the wholesale channel. UWM has been the largest wholesale mortgage lender for eleven consecutive years and is the largest purchase lender in the nation. With a culture of continuous innovation of technology and enhanced client experience, UWM leads the market by building upon its proprietary and exclusively licensed technology platforms, superior service and focused partnership with the independent mortgage broker community. UWM originates primarily conforming and government loans across all 50 states and the District of Columbia. For more information, visit uwm.com or call 800-981-8898. NMLS #3038.

For inquiries regarding UWM, please contact:

INVESTOR CONTACT MEDIA CONTACT

BLAKE KOLO NICOLE ROBERTS

InvestorRelations@uwm.com Media@uwm.com

UWM HOLDINGS CORPORATION

CONSOLIDATED BALANCE SHEETS

(in thousands, except shares and per share amounts)

March 31,

2026 December 31,

2025

Assets (Unaudited)

Cash and cash equivalents

(includes restricted cash of $21.0 million and $16.0 million, respectively)

$ 423,996 $ 503,364

Mortgage loans at fair value 10,991,101 9,932,729

Derivative assets 124,490 37,567

Investment securities at fair value, pledged 98,491 100,512

Accounts receivable, net 1,271,014 526,694

Mortgage servicing rights 4,591,855 4,073,781

Premises and equipment, net 180,523 180,199

Operating lease right-of-use asset

(includes $91.8 million and $93.4 million with related parties)

92,616 94,310

Finance lease right-of-use asset, net

(includes $20.2 million and $20.7 million with related parties)

20,681 21,247

Loans eligible for repurchase from Ginnie Mae 1,124,020 1,133,359

Other assets 347,457 324,914

Total assets $ 19,266,244 $ 16,928,676

Liabilities and Equity

Warehouse lines of credit $ 9,900,303 $ 8,912,496

Derivative liabilities 337,817 26,574

Secured line of credit 2,000,000 1,200,000

Borrowings against investment securities 86,724 87,497

Accounts payable, accrued expenses and other 949,788 707,790

Accrued distributions and dividends payable 161,773 161,292

Senior notes 2,983,152 2,981,975

Operating lease liability

(includes $98.0 million and $99.7 million with related parties)

98,811 100,596

Finance lease liability

(includes $22.4 million and $22.9 million with related parties)

22,955 23,468

Loans eligible for repurchase from Ginnie Mae 1,124,020 1,133,359

Total liabilities 17,665,343 15,335,047

Equity:

Preferred stock, $0.0001 par value - 100,000,000 shares authorized, none issued and outstanding as of March 31, 2026 or December 31, 2025

— —

Class A common stock, $0.0001 par value - 4,000,000,000 shares authorized, 312,883,751 and 268,415,480 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively

31 27

Class B common stock, $0.0001 par value - 1,700,000,000 shares authorized, none issued and outstanding as of March 31, 2026 or December 31, 2025

— —

Class C common stock, $0.0001 par value - 1,700,000,000 shares authorized, none issued and outstanding as of March 31, 2026 or December 31, 2025

— —

Class D common stock, $0.0001 par value - 1,700,000,000 shares authorized, 1,287,482,620 and 1,331,482,620 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively

129 133

Additional paid-in capital 12,593 9,910

Retained earnings 216,768 189,447

Non-controlling interest 1,371,380 1,394,112

Total equity 1,600,901 1,593,629

Total liabilities and equity $ 19,266,244 $ 16,928,676

UWM HOLDINGS CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except shares and per share amounts)

For the three months ended

March 31,

2026 December 31,

2025 March 31,

2025

Revenue (Unaudited) (Unaudited) (Unaudited)

Loan production income $ 554,572 $ 603,364 $ 304,751

Loan servicing income 213,379 186,392 190,517

Interest income 133,476 155,491 118,102

Total revenue

901,427 945,247 613,370

Other gains (losses)

Change in fair value of mortgage servicing rights (10,335) (247,617) (388,585)

Gain (loss) on other interest rate derivatives (138,198) 61,409 —

Other gains (losses), net

(148,533) (186,208) (388,585)

Expenses

Salaries, commissions and benefits 224,554 224,192 192,800

Direct loan production costs 60,505 55,141 43,127

Marketing, travel, and entertainment 30,878 34,212 22,190

Depreciation and amortization 14,385 13,757 11,340

General and administrative 59,034 73,670 68,148

Servicing costs 43,067 46,184 30,434

Interest expense 140,765 144,833 120,410

Other expense (income)

2,206 (2,574) (2,848)

Total expenses 575,394 589,415 485,601

Earnings (loss) before income taxes

177,500 169,624 (260,816)

Provision (benefit) for income taxes

7,126 5,140 (13,788)

Net income (loss)

170,374 164,484 (247,028)

Net income (loss) attributable to non-controlling interest

145,073 145,072 (233,349)

Net income (loss) attributable to UWMC $ 25,301 $ 19,412 $ (13,679)

Earnings (loss) per share of Class A common stock:

Basic $ 0.09 $ 0.08 $ (0.08)

Diluted $ 0.09 $ 0.08 $ (0.12)

Weighted average shares outstanding:

Basic 292,122,233 256,913,262 164,100,022

Diluted 1,600,064,853 256,913,262 1,598,383,240

Addendum to Exhibit 99.1

This addendum includes the Company's Consolidated Balance Sheets as of March 31, 2026, and the preceding four quarters and Statements of Operations for the quarter ended March 31, 2026, and the preceding four quarters for purposes of providing historical quarterly trending information to investors.

CONSOLIDATED BALANCE SHEETS

(in thousands, except shares and per share amounts)

March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

Assets

(Unaudited)

(Unaudited) (Unaudited)

(Unaudited)

Cash and cash equivalents, including restricted cash $ 423,996 $ 503,364 $ 870,703 $ 489,984 $ 485,024

Mortgage loans at fair value 10,991,101 9,932,729 10,784,461 8,040,310 8,402,211

Derivative assets 124,490 37,567 91,446 59,356 43,958

Investment securities at fair value, pledged 98,491 100,512 101,277 101,627 102,982

Accounts receivable, net 1,271,014 526,694 548,090 719,369 472,299

Mortgage servicing rights 4,591,855 4,073,781 3,308,585 3,445,195 3,321,457

Premises and equipment, net 180,523 180,199 164,985 166,460 153,855

Operating lease right-of-use asset 92,616 94,310 95,957 91,004 92,450

Finance lease right-of-use asset, net 20,681 21,247 21,219 21,810 22,464

Loans eligible for repurchase from Ginnie Mae 1,124,020 1,133,359 749,089 564,806 750,769

Other assets 347,457 324,914 286,525 186,968 200,964

Total assets $ 19,266,244 $ 16,928,676 $ 17,022,337 $ 13,886,889 $ 14,048,433

Liabilities and Equity

Warehouse lines of credit $ 9,900,303 $ 8,912,496 $ 9,783,664 $ 7,254,526 $ 7,573,139

Derivative liabilities 337,817 26,574 41,209 76,683 27,922

Secured line of credit 2,000,000 1,200,000 — 425,000 250,000

Borrowings against investment securities 86,724 87,497 87,142 86,896 88,775

Accounts payable, accrued expenses and other 949,788 707,790 706,993 661,496 652,701

Accrued distributions and dividends payable 161,773 161,292 160,846 160,360 159,856

Senior notes 2,983,152 2,981,975 3,780,620 2,787,797 2,786,467

Operating lease liability 98,811 100,596 102,333 97,471 99,010

Finance lease liability 22,955 23,468 23,363 23,872 24,445

Loans eligible for repurchase from Ginnie Mae 1,124,020 1,133,359 749,089 564,806 750,769

Total liabilities 17,665,343 15,335,047 15,435,259 12,138,907 12,413,084

Equity:

Preferred stock, $0.0001 par value - 100,000,000 shares authorized, none issued and outstanding as of each of the periods presented

— — — — —

Class A common stock, $0.0001 par value - 4,000,000,000 shares authorized; shares issued and outstanding - 312,883,751 as of March 31, 2026, 268,415,480 as of December 31, 2025, 234,291,930 as of September 30, 2025, 205,979,563 as of June 30, 2025 and 200,781,659 as of March 31, 2025

31 27 23 21 20

Class B common stock, $0.0001 par value - 1,700,000,000 shares authorized, none issued and outstanding as of each of the periods presented

— — — — —

Class C common stock, $0.0001 par value - 1,700,000,000 shares authorized, none issued and outstanding as of each of the periods presented

— — — — —

Class D common stock, $0.0001 par value - 1,700,000,000 shares authorized; shares issued and outstanding - 1,287,482,620 as of March 31, 2026, 1,331,482,620 as of December 31, 2025, 1,365,482,620 as of September 30, 2025, 1,393,282,620 as of June 30, 2025 and 1,397,782,620 as of March 31, 2025

129 133 137 139 140

Additional paid-in capital 12,593 9,910 7,579 5,688 4,298

Retained earnings 216,768 189,447 169,935 170,320 160,407

Non-controlling interest 1,371,380 1,394,112 1,409,404 1,571,814 1,470,484

Total equity 1,600,901 1,593,629 1,587,078 1,747,982 1,635,349

Total liabilities and equity $ 19,266,244 $ 16,928,676 $ 17,022,337 $ 13,886,889 $ 14,048,433

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except shares and per share amounts)

(Unaudited)

For the three months ended

March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

Revenue

Loan production income $ 554,572 $ 603,364 $ 542,144 $ 447,882 $ 304,751

Loan servicing income 213,379 186,392 169,019 178,813 190,517

Interest income 133,476 155,491 132,089 132,005 118,102

Total revenue 901,427 945,247 843,252 758,700 613,370

Other gains (losses)

Change in fair value of mortgage servicing rights (10,335) (247,617) (307,825) (111,421) (388,585)

Gain (loss) on other interest rate derivatives

(138,198) 61,409 27,813 208,904 —

Other gains (losses), net

(148,533) (186,208) (280,012) 97,483 (388,585)

Expenses

Salaries, commissions and benefits 224,554 224,192 222,760 211,461 192,800

Direct loan production costs 60,505 55,141 64,213 46,330 43,127

Marketing, travel, and entertainment 30,878 34,212 23,410 26,379 22,190

Depreciation and amortization 14,385 13,757 12,747 12,200 11,340

General and administrative 59,034 73,670 62,243 59,999 68,148

Servicing costs 43,067 46,184 33,928 35,083 30,434

Interest expense 140,765 144,833 132,084 133,467 120,410

Other expense (income) 2,206 (2,574) (815) 1,846 (2,848)

Total expenses 575,394 589,415 550,570 526,765 485,601

Earnings (loss) before income taxes 177,500 169,624 12,670 329,418 (260,816)

Provision (benefit) for income taxes 7,126 5,140 582 14,939 (13,788)

Net income (loss) 170,374 164,484 12,088 314,479 (247,028)

Net income (loss) attributable to non-controlling interest 145,073 145,072 13,350 291,570 (233,349)

Net income (loss) attributable to UWMC $ 25,301 $ 19,412 $ (1,262) $ 22,909 $ (13,679)

Earnings (loss) per share of Class A common stock:

Basic $ 0.09 $ 0.08 $ (0.01) $ 0.11 $ (0.08)

Diluted $ 0.09 $ 0.08 $ (0.01) $ 0.11 $ (0.12)

Weighted average shares outstanding:

Basic 292,122,233 256,913,262 221,354,499 202,133,122 164,100,022

Diluted 1,600,064,853 256,913,262 221,354,499 202,133,122 1,598,383,240

GRAPHIC — GRAPHIC IMAGE

GRAPHIC

Filename: uwmc_colorlogoa.jpg · Sequence: 6

Binary file (37092 bytes)

Download uwmc_colorlogoa.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 8

v3.26.1

Cover

May 06, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

May 06, 2026

Entity Registrant Name

UWM Holdings Corporation

Entity Incorporation, State or Country Code

Entity File Number

001-39189

Entity Tax Identification Number

84-2124167

Entity Address, Address Line One

585 South Boulevard E.

Entity Address, City or Town

Pontiac,

Entity Address, State or Province

Entity Address, Postal Zip Code

48341

City Area Code

(800

Local Phone Number

981-8898

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Class A Common Stock, par value $0.0001 per share

Trading Symbol

UWMC

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

Entity Central Index Key

0001783398

Amendment Flag

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration