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UWM UNITED WHOLESALE MORTGAGE Exhibit 99.1 UWM Holdings Corporation Announces First Quarter 2021 Results $ 860 Million in 1Q21 Net Income ; $ 49.1 Billion in 1Q21 Loan Volume PONTIAC , MI , May 10 , 2021 - UWM Holdings Corporation ( NYSE : UWMC ) , the publicly traded indirect parent of United Wholesale Mortgage ( " UWM " ) , the # 1 wholesale mortgage lender in America , today announced the results for the first quarter ended March 31 , 2021. UWMC reported 1Q21 net income of $ 860 million , a 42x increase over 1Q20 net income of $ 20.3 million . Additionally , the Board of Directors of UWMC declared a quarterly dividend of $ 0.10 per share on the outstanding shares of Class A Common Stock . The dividend is payable on July 6 , 2021 to stockholders of record at the close of business on June 10 , 2021. The Board of Directors also authorized a share repurchase program of up to $ 300 million over the next 24 months , beginning on May 11 , 2021 . Mat Ishbia , Chairman and CEO of UWMC said : " The first quarter of 2021 was not only the best first quarter in our 35 - year history , it also marked our first quarter as a public company and solidified our foundation for growth . We believe we now have the capital , liquidity , technology , campus and staffing necessary to further scale our business and grow to become the largest mortgage originator in the country . We welcome the shift to more of a purchase market and the pressure on margins as we believe our business model is built to outperform competitors under those conditions . Moving forward , our priorities remain the same : our people , the industry - leading service we offer to our brokers , and creating long - term value for our shareholders . " First Quarter 2021 Financial Highlights • Originations of $ 49.1 billion in loan volume , a 16 % increase from the 1Q20 $ 42.4 billion loan volume . Total gain margin of 219 bps in 1Q21 compared to 95 bps in 1Q20 • First quarter net income of $ 860.0 million , as compared to $ 20.3 million for 1Q20 • Increased total equity to $ 2.78 billion at March 31 , 2021 as compared to $ 681.5 million at March 31 , 2020 . Unpaid principal balance of mortgage servicing rights increased to $ 221.0 billion in 1Q21 from $ 85.6 billion in 1Q20 Production and Income Statement Highlights ( dollars in thousands ) Q1 2021 Q4 2020 Closed loan volume ( ¹ ) $ 49,094,240 $ 54,678,923 $ Q1 2020 42,441,727 Total gain margin ( ¹ ) ( 2 ) Net income $ Adjusted net income ( 3 ) $ 2.19 % 860,005 665,318 $ $ 3.05 % 1,371,791 1,046,303 $ 0.95 % $ 20,349 15,510 ( 1 ) Key operational metric - see discussion below . ( 2 ) Represents total loan production income divided by total production . ( 3 ) Non - GAAP metric - see discussion below . 1