How did UWMC's revenue and expenses shift in Q4 2024?

UWM Holdings (UWMC) experienced a significant shift in its revenue and expense structure in Q4 2024, with the most notable changes being a substantial increase in Loan Production Income and a corresponding rise in Loan Servicing Income and Interest Income: 1. **Loan Production Income**: UWMC's Loan Production Income saw a significant boost, with $1.53 billion and $1.12 billion reported for the quarter. This indicates a strong performance in loan origination activities, which could be attributed to favorable market conditions or strategic initiatives by the company. 2. **Loan Servicing Income**: Concurrently, there was a notable increase in Loan Servicing Income, amounting to $636.67 million and $508.62 million. This suggests that UWMC has been successful in generating income from servicing its loan portfolio, which is a positive indicator for the company's overall financial health. 3. **Interest Income**: Interest Income also saw growth, with $463.37 million and $368.55 million recorded in Q4 2024. This reflects the company's ability to earn income from the interest earned on its investments and loans. 4. **Gain on Other Interest Rate Derivatives**: An additional source of revenue was the Gain on Other Interest Rate Derivatives, which amounted to $254.1 million. This suggests that UWMC has been effective in managing its interest rate risk through derivative instruments, contributing positively to its bottom line. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |UWMC|UWMC.N|UWM Holdings|20240101-2024|Interest Income|5.08621E8|169| |UWMC|UWMC.N|UWM Holdings|20240101-2024|Interest Income|3.68554E8|169| |UWMC|UWMC.N|UWM Holdings|20240101-2024|Interest Income|2.23257E8|169| |UWMC|UWMC.N|UWM Holdings|20240101-2024|Interest Income|1.01863E8|169| |UWMC|UWMC.N|UWM Holdings|20240101-2024|Loan Production Income|2.98954E8|169| |UWMC|UWMC.N|UWM Holdings|20240101-2024|Interest Income|1.01863E8|169| |UWMC|UWMC.N|UWM Holdings|20240101-2024|Loan Servicing Income|1.84702E8|169| |UWMC|UWMC.N|UWM Holdings|20240101-2024|Change in Fair Value of Mortgage Servicing Rights|-1.5563E7|169|