UWM Holdings Management
Management criteria checks 4/4
UWM Holdings' CEO is Mat Ishbia, appointed in Jun 2013, has a tenure of 12.92 years. total yearly compensation is $9.96M, comprised of 6% salary and 94% bonuses, including company stock and options. directly owns 1.62% of the company’s shares, worth $86.17M. The average tenure of the management team and the board of directors is 9 years and 5.3 years respectively.
Key information
Mat Ishbia
Chief executive officer
US$10.0m
Total compensation
| CEO salary percentage | 6.02% |
| CEO tenure | 12.9yrs |
| CEO ownership | 1.6% |
| Management average tenure | 9yrs |
| Board average tenure | 5.3yrs |
Recent management updates
Recent updates
Narrative Update • May 11
UWMC: Two Harbors Merger And Revenue Outlook Will Support Future Upside
Analysts have reduced the UWM Holdings fair value estimate by $1.00 to $5.59. This reflects a higher discount rate, more cautious revenue assumptions, and a higher future P/E multiple in light of recent reductions in Street price targets and neutral to Hold views across several firms.
Narrative Update • Apr 26
UWMC: Communication And Two Harbors Merger Risks Will Shape Fairly Balanced Outlook
Analysts have reduced the UWM Holdings fair value estimate from $4.75 to $4.00. This reflects lower Street price targets of around $4.40 to $6.50, a higher discount rate, and a more conservative future P/E assumption, while keeping growth and margin inputs relatively steady.Seeking Alpha • Apr 16
UWM Holdings: High-Yield Masks Structural Risk
Summary UWM Holdings Corporation dominates the wholesale mortgage market, leveraging technological efficiency but facing elevated systematic and financial risks. UWMC's 10.7% dividend yield is unsustainable, with a payout ratio exceeding 300% and high debt-to-equity of around 9 constraining reinvestment capacity. Valuation appears stretched: P/E (TTM) at 30.6x and P/B at 5.5, with market expectations of aggressive profit recovery and limited margin of safety. Operational leverage, MSR portfolio sensitivity to rates, and CEO share sales heighten risks; any forecast miss could trigger sharp multiple contraction. Read the full article on Seeking AlphaNarrative Update • Apr 11
UWMC: Communication Risks Around Two Harbors Deal Will Shape Bullish Outlook
Analysts have trimmed their average price targets on UWM Holdings to a range centered around $6. The updated fair value estimate of $4.75, versus $4.40 previously, reflects more cautious revenue and margin assumptions, a slightly higher discount rate, and a modestly higher future P/E multiple following mixed reactions to recent guidance and the Two Harbors deal.Narrative Update • Mar 04
UWMC: Earnings Communication And Acquisition Risk Set To Shape Balanced Outlook
The analyst price target for UWM Holdings has been reduced by $0.60 to reflect lower Q1 revenue expectations, higher perceived risk, and mixed sentiment around the recent earnings call format and the pending Two Harbors acquisition, even as analysts point to solid $50b quarterly originations as support for scale. Analyst Commentary Recent Street research around UWM Holdings shows a clear tilt toward more cautious views, even as some analysts still acknowledge the company's scale and quarterly originations.Narrative Update • Feb 18
UWMC: Policy Support And Credit Risk Set To Shape Balanced Outlook
Analysts have reset their fair value estimate for UWM Holdings to $5.00 from $4.50, citing updated assumptions around refinancing sensitivity, housing policy support for originators, and a sharply lower future P/E multiple in their models. Analyst Commentary Recent Street research around UWM Holdings highlights a mix of policy driven optimism and valuation caution, with several firms reassessing how much support is already reflected in the share price.Narrative Update • Feb 04
UWMC: Policy Shifts And Refinance Activity Will Support Future Upside
Narrative Update Analysts now frame UWM Holdings with a reduced price target of $5, cut from $6, as they reassess sector risks and the durability of policy driven mortgage tailwinds, while keeping underlying fair value assumptions and long term earnings drivers broadly unchanged. Analyst Commentary Recent Street research presents a mixed picture for UWM Holdings, with policy headlines, rate moves, and sector wide risk reassessments all influencing how analysts think about valuation and execution risk.Narrative Update • Jan 21
UWMC: Policy Tailwinds And Refinance Activity Will Support Future Upside
Analysts recently trimmed their price target on UWM Holdings to US$5 from US$6, citing mortgage rate moves, policy headlines, and broader credit and housing support expectations that they believe are already partially reflected in current trading levels. Analyst Commentary Recent commentary around UWM Holdings centers on how much of the potential policy and rate backdrop is already embedded in the share price, with investors trying to balance possible refinance upside against questions on sustainability and broader credit risk.Narrative Update • Jan 07
UWMC: Credit Resilience And Loan Momentum Will Support Future Upside
Analysts have trimmed their price targets on UWM Holdings, with one cut highlighted from US$6 to US$5, reflecting updated expectations for fair value, profit margins and future P/E assumptions as they weigh loan growth potential against credit risk. Analyst Commentary Recent commentary around UWM Holdings centers on how much upside is left after the latest price target trim and what could still go wrong if credit conditions become more challenging.Narrative Update • Dec 14
UWMC: Resilient Credit Performance Will Support Optimism Amid Elevated Rate Environment
Analysts have nudged their average price target on UWM Holdings up to $7.00 from $6.00, citing resilient credit performance, cautious but improving sentiment around the mortgage market, and a view that shares had largely rerated to reflect expectations for lower long term interest rates. Analyst Commentary Analyst views on UWM Holdings have become more balanced, with recent research highlighting both improving fundamentals and emerging valuation risks following the stock's sharp move higher.Narrative Update • Nov 30
UWMC: Steady Credit Performance Will Drive Optimism Despite Rate Headwinds
Analysts have increased their price target for UWM Holdings to $7.00, up from the previous $6.00. They cite steady credit performance and improving sentiment in the mortgage market, despite ongoing caution around rates and valuations.Narrative Update • Nov 15
UWMC: Strong Credit Trends Will Likely Improve Earnings Amid Rate Uncertainty
The average analyst price target for UWM Holdings has increased from $6.59 to $7.00. This reflects improved outlooks on revenue growth, profit margins, and fair value as analysts cite strong credit performance and a more optimistic mortgage market despite elevated rate expectations.Narrative Update • Oct 31
UWMC: Credit Strength And Rate Momentum Will Drive Upside Potential
Analysts have modestly increased their price target for UWM Holdings, raising it from $6.53 to $6.59 per share. They cite steady credit performance and improved sector optimism, but remain cautious due to concerns over valuation and interest rates.Narrative Update • Oct 17
Advanced AI And In-house Servicing Will Transform Mortgage Markets
The analyst consensus price target for UWM Holdings has increased from $6.03 to $6.53 per share, as analysts highlight resilient credit performance and improved mortgage market sentiment. However, they also note ongoing risks tied to elevated interest rates and valuation.Narrative Update • Oct 03
Advanced AI And In-house Servicing Will Transform Mortgage Markets
UWM Holdings’ analyst price target has been revised upward from $5.78 to $6.03. Analysts highlight improving growth prospects and note that valuation concerns remain amid changing expectations for mortgage rates.Analysis Article • May 29
Shareholders Will Probably Hold Off On Increasing UWM Holdings Corporation's (NYSE:UWMC) CEO Compensation For The Time Being
Key Insights UWM Holdings to hold its Annual General Meeting on 4th of June CEO Mat Ishbia's total compensation...Seeking Alpha • Mar 25
UWM Holdings: Record 2024 Performance Sets Stage For Future Gains
Summary In 2024’s worst home sales since 1995, UWM smashed records with $96B in purchase loans while doubling its refinance market share to 12%. With a $3.5B profit precedent at 6%, UWM is primed for a $260B refinance origination surge if rates drop, capitalizing on future macroeconomic shifts. Despite a 92% Ishbia family-owned float fueling volatility and short-seller noise, UWM’s $2.5B cash pile and committed dividend policy offers investors a great buying opportunity. Read the full article on Seeking AlphaSeeking Alpha • Jan 26
UWM Holdings: 6.5% Dividend While Waiting For Refinancing Boom
Summary UWMC dominates the broker channel market, aiming to exceed 50% market share, with substantial growth in purchase originations despite high interest rates. Proprietary tech investments enhance efficiency and scalability, positioning UWMC to capitalize on refinancing volume spikes when interest rates decline. Key risks include prolonged high mortgage rates, increased broker channel competition, and potential dividend or buyback issues. Holding UWMC offers a 6.5% dividend yield and a free call option on a refinancing boom, making it a strategic addition to a diversified income portfolio. Read the full article on Seeking AlphaSeeking Alpha • Oct 01
UWM Holdings: Paving The Path To Success In The Mortgage Lending Industry
Summary UWMC is outpacing the S&P 500 with a 22% return YTD in 2024, positioning its share price to move higher with the next rate cut cycle. UWM's ability to excel in both purchase and refinance markets has fueled its growth, demonstrating resilience through the rate cycle and aligning itself for an oncoming refinancing & purchasing surge. While bullish on UWM’s long-term, housing market softening, recession indicators, and the company’s elevated payout ratio need improvement to ensure sustainable profitability for the company. Read the full article on Seeking Alpha
New Narrative • Aug 21
Mixed Mortgage Market Prospects Amid Rate Cuts Could Squeeze Margins But Tactical Tech Investments Offer Growth Hope
Heavy reliance on broker channels and the strategic focus on maintaining staff levels may squeeze net margins if loan volumes don't increase as expected.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$66m |
| Dec 31 2025 | US$10m | US$600k | US$27m |
| Sep 30 2025 | n/a | n/a | US$17m |
| Jun 30 2025 | n/a | n/a | US$12m |
| Mar 31 2025 | n/a | n/a | -US$8m |
| Dec 31 2024 | US$13m | US$600k | US$14m |
| Sep 30 2024 | n/a | n/a | -US$22m |
| Jun 30 2024 | n/a | n/a | US$3m |
| Mar 31 2024 | n/a | n/a | US$7m |
| Dec 31 2023 | US$12m | US$600k | -US$13m |
| Sep 30 2023 | n/a | n/a | US$14m |
| Jun 30 2023 | n/a | n/a | US$7m |
| Mar 31 2023 | n/a | n/a | US$8m |
| Dec 31 2022 | US$7m | US$600k | US$42m |
| Sep 30 2022 | n/a | n/a | US$59m |
| Jun 30 2022 | n/a | n/a | US$72m |
| Mar 31 2022 | n/a | n/a | US$72m |
| Dec 31 2021 | US$8m | US$600k | US$98m |
| Sep 30 2021 | n/a | n/a | US$1b |
| Jun 30 2021 | n/a | n/a | US$3b |
| Mar 31 2021 | n/a | n/a | US$3b |
| Dec 31 2020 | US$7m | US$600k | US$3b |
| Sep 30 2020 | n/a | n/a | US$2b |
| Jun 30 2020 | n/a | n/a | US$907m |
| Mar 31 2020 | n/a | n/a | US$401m |
| Dec 31 2019 | US$18m | US$600k | US$415m |
Compensation vs Market: Mat's total compensation ($USD9.96M) is about average for companies of similar size in the US market ($USD8.41M).
Compensation vs Earnings: Mat's compensation has been consistent with company performance over the past year.
CEO
Mat Ishbia (45 yo)
12.9yrs
Tenure
US$9,961,301
Compensation
Mr. Mathew R. Ishbia, also known as Mat, serves as Chairman at UWM Holdings Corporation since 2021 and also serves as its President, Chief Executive Officer since June 2013. Mr. Ishbia joined UWM in 2003 a...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 12.9yrs | US$9.96m | 1.62% $ 86.2m | |
| Founder & Director | no data | US$1.67m | no data | |
| Executive VP & CFO | 1.1yrs | US$1.33m | 0.0038% $ 204.7k | |
| Executive VP | 10.8yrs | US$9.70m | 0.52% $ 27.7m | |
| Executive VP | 11.8yrs | US$1.37m | 0.018% $ 978.4k | |
| Executive VP | 8.1yrs | US$9.60m | 0.59% $ 31.7m | |
| Executive VP & CTO | 10yrs | no data | no data | |
| Executive VP | 6.3yrs | no data | 0.0059% $ 315.6k | |
| Executive VP | 4.3yrs | no data | no data | |
| Senior VP & Chief Compliance Officer | no data | no data | no data | |
| PR Director | no data | no data | no data | |
| Executive Vice President of Sales | no data | no data | no data |
9.0yrs
Average Tenure
48yo
Average Age
Experienced Management: UWMC's management team is seasoned and experienced (9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 5.3yrs | US$9.96m | 1.62% $ 86.2m | |
| Founder & Director | 5.3yrs | US$1.67m | no data | |
| Executive VP | 5.3yrs | US$9.70m | 0.52% $ 27.7m | |
| Executive VP | 5.3yrs | US$1.37m | 0.018% $ 978.4k | |
| Executive VP | 5.3yrs | US$9.60m | 0.59% $ 31.7m | |
| Director | 5.3yrs | US$135.00k | 0.0026% $ 140.2k | |
| Director | 5.3yrs | US$135.00k | 0.0026% $ 140.2k | |
| Independent Director | 2.8yrs | US$135.00k | 0.0017% $ 88.5k | |
| Independent Director | 5.3yrs | US$135.00k | 0.064% $ 3.4m | |
| Independent Director | 5.3yrs | US$135.00k | 0.0034% $ 180.2k |
5.3yrs
Average Tenure
48.5yo
Average Age
Experienced Board: UWMC's board of directors are considered experienced (5.3 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/12 11:08 |
| End of Day Share Price | 2026/05/12 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
UWM Holdings Corporation is covered by 17 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Mark DeVries | Barclays |
| Mark DeVries | Barclays |
| Terry Ma | Barclays |