United Wholesale Mortgage reported net income of $212.6 million in the third quarter of 2026, compared with net income of $12.1 million in the same quarter last year, the Pontiac, Michigan-based company reported Wednesday, Nov. 4.

The results are a turnaround from the second quarter, when UWM reported a net loss of $451.9 million.

The company also reported $33.4 billion in loan originations during the third quarter, down from $39.7 billion in the second quarter and $41.7 billion in the third quarter of 2025.

CEO Mat Ishbia said the results demonstrate the company's ability to perform in different market conditions, even as interest rates remain elevated.

"Our third quarter results show the strength of UWM and our ability to perform in any market," Ishbia said in a statement. "Even with rates staying higher, our origination engine, operational execution and service levels continue to set us apart. At the same time, the investments we're making in artificial intelligence and technology are driving greater efficiencies across the business and helping lower expenses."

Purchase loans accounted for $22.8 billion of total originations, compared with $23.8 billion in the previous quarter and $25.2 billion during the same period last year. Refinance volume totaled $10.6 billion, down from $15.9 billion in the second quarter of 2026 and $16.5 billion in the third quarter of 2025.

Adjusted EBITDA was $178.3 million, compared with $185.9 million in the previous quarter and $211.1 million in the same quarter last year.

Rival Rocket Companies, the parent of Rocket Mortgage, reported third-quarter net income last week.

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