UWM Holdings Corporation Class A (UWMC) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Chief Business Officer and Head of Investor Relations. Thank you for joining us and welcome to the first quarter 2025 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. Our commentary today will also include non-GAAP financial measures. For information on our non-GAAP measures and metrics and the reconciliation between the GAAP and non-GAAP metrics for the reported results, please refer to the earnings release issued today, as well as our filing with the SEC. I will now turn the call over to Matt Ishbia, Chairman and CEO of UWM Holdings Corporation and United Wholesale Mortgage. Thanks, Blake, and thank you, everyone, for joining today. I'm very excited for what we accomplished this quarter on many fronts and for what lies ahead here at UWM. We will continue investing in technology to widen the gap between us and our competition, regardless of how the industry or markets may change due to technology rates, we will continue to lead the way. Since 2022, the Mortgage Brokers Channel share of the industry is up almost 40% from about 19.7 to almost 28%, the highest level we've seen since 2008, I believe. This is an incredible growth that we are very excited about. I say this a lot, but I would ask all of you to go back and listen to our earnings call from early 2023 or even 22 or 21, but 23 when we talked about game on pricing and how we were going to invest in the business, invest in the channel to grow. Many people were concerned about lowering the margins like we did. However, I knew an...