UWM Holdings Corporation (NYSE:UWMC) Q1 2024 Earnings Call Transcript

Brad Capuzzi: Thanks. And then just to follow up, in terms of the pricing initiatives you have for the brokers, how is that driven? Increased volume. And do you expect to roll out further initiatives going forward?

Mat Ishbia: Yes, I mean, we always are looking at everything. How do we make things better for brokers? How do we help the brokers win more loans? How do we help the brokers grow? And so price initiatives is just one of those many tools. We have other things that we look at. How do we roll out new technology? We’ve done some things, whether it’s tied to AI, whether it’s tied to innovation that people don’t even speak about or understand, but our brokers understand. And so there’s things we’re always constantly trying to roll out to help them grow. Price is just one of those minor categories that you can do to drive volume, help them win more business. But in a purchase market, price is less relevant. It’s more about can you take care of the client, make it fast, easy, simple, get them in the house on time, and then obviously be affordable.

And so those are all the things that we’re working on. And so I feel really good about the technology, the innovation we’re providing to brokers to help them grow their business, and we’re going to continue to do that. And whether a price initiative or something comes out at some point. We always look at that stuff, but I don’t foresee that right now. I foresee more other ways to help them grow.

Brad Capuzzi: Thanks for taking my question.

Operator: [Operator Instructions] Currently have no questions in our queue at this time. I will now turn the call back over to management for closing remarks.

Mat Ishbia: Yes, well, thank you, guys. Thanks for the questions. We’re really proud of the quarter, and we’re excited about this quarter that we’re in right now, too. And we’re going to keep doing great things. So we appreciate you being on the call. Thank you for the questions and supporting UWM. Have a great day.

Operator: This concludes today’s conference call. Thank you for your participation and you may now disconnect.