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UWMCUWM Holdings CorporationSell6.1·$2.12+5.20%
UWMC · Concentration risk · 10-K extracted

UWM Holdings (UWMC) concentration risks

Updated

The most significant concentration UWM Holdings discloses is Fannie Mae, Freddie Mac, and Ginnie Mae at 90%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.

Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.

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Methodology · Editorial policy & full disclaimer

Source: UWM Holdings’s SEC Form 10-K filed view the filing on SEC EDGAR ↗

At a glance

Disclosed-size breakdown · 1 disclosed concentration

HIGH1
MEDIUM0
LOW0
Disclosed concentrations

Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).

HIGHBuilt-inCustomer
90%

Fannie Mae, Freddie Mac, and Ginnie Mae

10-K Item 1: 'approximately 90% of loans originated by UWM were sold to Fannie Mae or Freddie Mac, or were transferred to Ginnie Mae pools in the secondary market'
SEC 10-K · filed Feb 2026
TrendMatrix Research · concentration synthesis

What these concentrations mean together

updated 2026-06-24

The company's disclosed concentration profile is dominated by a single high-share counterparty exposure in the secondary mortgage market. Approximately 90% of loans originated by UWM were sold to Fannie Mae or Freddie Mac, or transferred to Ginnie Mae pools in the secondary market, a high-share structural concentration by disclosed size. The structural character is appropriate: the conventional and government mortgage markets in the United States are designed so that virtually all conforming originations flow through these agencies, making the concentration a deliberate and intentional feature of the business model for the largest wholesale mortgage originator rather than a self-imposed counterparty dependency. The practical implication is that any change in agency purchase commitments, guaranty fee structures, loan limits, or secondary-market policy would affect the economics and liquidity of the vast majority of the company's origination volume. Changes to the conservatorship status of Fannie Mae and Freddie Mac — a recurring policy discussion — represent the most structural tail risk in this profile, as they could alter the terms or availability of agency takeout. No geographic, supplier, or product concentration is separately disclosed. On balance, this is a well-understood, industry-wide structural dependency that is shared by all conventional mortgage originators, but the high share makes it the single most important counterparty dynamic to monitor: agency policy decisions are the dominant external variable for this business.

For the engine’s reasoning on UWMC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.

Industry peers · Mortgage Finance

Peer concentration profile

SymbolNameHIGHMEDIUMLOWTotal
RKTRocket Companies, Inc.2002
UWMCUWM Holdings Corporation1001
PFSIPennyMac Financial Services, In0000

Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.

Concentration disclosures are extracted verbatim from SEC 10-K filings; the disclosed-size classification and the synthesis above are engine-derived. Size reflects how large each exposure is against fixed share thresholds (HIGH >50%, MEDIUM 25–50%, LOW <25% or an explicit diversification statement), not a judgment of how dangerous it is, and is not a buy/sell rating, a price target, or a view on the stock. Not a complete list of risk factors — see the full filing.

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