UWM Holdings Chairman and CEO Mathew Ishbia defended the company's $2 billion-plus capital raise from Oaktree and the suspension of its dividend during the Q2 2026 earnings call. Ishbia said the Oaktree partnership is strategic, not just capital, and will help UWM dominate the mortgage market long term. He explained the dividend cut as a capital allocation decision to build equity and improve debt ratios, which will fall from 5.6x to 1.2x after the transaction. Ishbia also addressed the hedge loss tied to the failed Two Harbors acquisition, calling it a one-time event and reiterating that UWM typically does not hedge its mortgage servicing rights. The company reported operating income of over $180 million and adjusted EBITDA of $160 million to $200 million for the quarter, with $40 billion in origination volume.
UWM Holdings CorpCEO defends strategic partnership and dividend cut to improve debt ratios, with strong operating income and EBITDA.
Two Harbors Investments CorpThe article mentions a hedge loss tied to the failed Two Harbors acquisition, indicating a negative event for Two Harbors.
Oaktree Specialty Lending Corp