Despite lower profits, total loan origination volume for Q2 2024 reached $33.6 billion, up from $27.6 billion in the first quarter and $31.8 billion a year ago. Purchase originations accounted for $27.2 billion of the total volume.
“Industry volume in the first half of 2024 versus 2023 is about the same,” said Ishbia. “Most people are living in the purchase-driven market, but there’s still tremendous upside that lies ahead.”
UWMC reported a total gain margin of 106 basis points, up from 88 basis points in the second quarter of 2023. Adjusted EBITDA came in at $133.1 million, compared to $125.4 million in the same period last year.
The lender ended the second quarter with approximately $2.7 billion of available liquidity, including $680.2 million in cash and available borrowing capacity under secured and unsecured lines of credit.
Looking ahead, UWMC anticipates third-quarter origination volume between $31 billion and $38 billion, with a gain margin ranging from 85 to 110 basis points.
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