UWM Holdings Corporation Class A (UWMC) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.635 -- 00:00:03.957 Recording in progress. I'm going to go through every one of them, at least I'm trying 00:00:03.957 -- 00:00:08.758 to get through every one of them, hopefully make it as effective for everyone as possible. 00:00:08.759 -- 00:00:13.121 Before I get into that, obviously, from a second quarter perspective, operating income 00:00:13.121 -- 00:00:15.963 over $180 million, adjusted 00:00:15.963 -- 00:00:17.804 EBITDA along with about $40 billion of business. 00:00:17.804 -- 00:00:22.426 We feel really good about UWM and the strength of the broker channel and the growth of 00:00:22.426 -- 00:00:25.027 the broker channel. So we feel great about where that's at. 00:00:25.027 -- 00:00:29.194 Obviously, I've got so many questions about Oak Tree Partnerships. 00:00:29.194 -- 00:00:33.335 The Dividend, Two Harbors, The Hedging. We're going to get through all that stuff and 00:00:33.335 -- 00:00:37.116 I'll try to get through it. Before I get into it, I wanted to start with the overall 00:00:37.116 -- 00:00:40.497 picture from where we are at UWM 00:00:40.497 -- 00:00:43.778 and the partnership with Oak Tree. We feel great about Oak Tree and the partnership that 00:00:43.778 -- 00:00:45.359 we have 00:00:45.359 -- 00:00:49.260 and are creating. Oak Tree is not just capital, they're strategic partners of ours. 00:00:49.260 -- 00:00:53.733 They have MSR background. Non-agency, like they have a lot of mortgage related and they're 00:00:53.733 -- 00:00:59.176 betting on housing and they're betting on UWM and so we're excited about the partnership 00:00:59.176 -- 00:01:02.437 and what it's going to do for our business long term and that's what we always think 00:01:02.437 -- 00:01:07.045 about is how do we dominate long term. The mortgage market's be...