EL7.AI
StocksMedium•23 October 2026•
3 min read

UWM Reports Preliminary Third-Quarter Results Ahead of Pricing $400 Million Rights Offering

Key Facts

1Loan originations were $39.7 billion in the second quarter of 2026, compared with $44.9 billion in the first quarter.
2UWM posted a net loss of $451.9 million in the second quarter of 2026, after net income of $170.4 million in the first quarter.
3The rights offering began on October 5, targeting up to $400 million; the October 2 record date made Class A shareholders eligible to subscribe.
4UWMC shares closed at $1.15 on October 22, 2026.

UWM Holdings reported preliminary results for the third quarter ended September 30, 2026, ahead of the scheduled announcement of the subscription price for its rights offering after the market close on November 9, according to the available news summary. The timing links the results directly to the capital raise the company began in October. But details of the preliminary results were not available in the disclosure that could be accessed, so this report includes no third-quarter operating or financial figures. In the last recorded trading session before the announcement, UWMC shares closed at $1.15 on October 22, according to EL7 data. No verified figures for the session high or low were available in the data provided.

The preliminary results follow a second quarter in which the company recorded loan originations of $39.7 billion, revenue of $888.0 million, a net loss of $451.9 million and adjusted EBITDA of $185.9 million, according to the company statement attached to its August 5 filing with the U.S. Securities and Exchange Commission. Loan originations were $44.9 billion in the first quarter of 2026 before falling to $39.7 billion in the second quarter. Year over year, second-quarter originations matched the $39.7 billion recorded in the same period of 2025. The bottom line shifted from net income of $170.4 million in the first quarter to a loss of $451.9 million in the second. The company reported net income of $314.5 million in the second quarter of 2025.

In its August statement, Chief Executive Matt Ishbia said the company was taking "decisive actions to make UWM stronger, more liquid and better positioned to win in the years ahead." In the same statement, the company announced a $2.05 billion capital investment from Oaktree Capital Management and SFS Group Capital, an investment firm owned by the Ishbia family. The announcement puts the company's funding and liquidity in the context of the latest update, although the available figures do not include details of the third-quarter results UWM announced. The second-quarter loss and announced investment provide financial context for investors as they follow the ongoing rights offering. The information provided contains no comparison between the preliminary third-quarter results and the prior quarter's figures.

UWM began the rights offering on October 5, 2026, targeting proceeds of up to $400 million, according to its filing with the U.S. Securities and Exchange Commission. The offering provides one subscription right for each Class A share held on October 2, the record date for eligible shareholders. The preliminary results were announced ahead of the subscription price, which will be set in a prospectus supplement. That price is scheduled to be announced after the market close on November 9. The supplement set the offering's expiration at 5:00 p.m. Eastern Time on November 12, 2026.