HousingWire Daily

Geoff Zimpfer and Sarah Wheeler on UWM’s $16B IPO


Listen Later

In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Editor in Chief Sarah Wheeler discuss the significance of mortgage companies like Rocket and United Wholesale Mortgage going public.

For some background on the interview, here’s a brief summary of HousingWire’s latest article on United Wholesale Mortgage’s $16B acquisition from Gores Holdings IV Inc. :

United Wholesale Mortgage, the largest wholesale lending firm in the country, is joining the blank-check company craze and will make its public debut via an acquisition.

The Detroit-headquartered UWM will merge with businessman Alec Gores’ special purpose acquisition company (SPAC) Gores Holdings IV Inc in a deal that will value the new UWM at $16.1 billion, the company said in a statement Wednesday morning. That’s roughly 9.5X the company’s estimated 2021 adjusted net income of $1.7 billion.

The acquisition will enable UWM to retain roughly 94% of the combined company. As part of the deal, UWM will receive about $425 million in cash held in Gores’s trust account, plus $500 million from a private placement. The combined company will be listed on the Nasdaq under the ticket symbol “UWMC.” The Wall Street Journal first reported the news.

UWM’s CEO Mat Ishbia, who took over the family business from his father in 2003 and transformed it into the largest wholesale lender in the nation, will be head of the combined company.

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

  • United Wholesale Mortgage plans $16B public debut via acquisition
  • Shant Banosian becomes Guaranteed Rate's first LO to originate $1 billion
  • LoanDepot could make public debut this year at up to $15B
  • Quicken Loans prepares for IPO
  • ...more
    View all episodesView all episodes
    Download on the App Store

    HousingWire DailyBy HousingWire

    • 4.6
    • 4.6
    • 4.6
    • 4.6
    • 4.6

    4.6

    156 ratings


    More shows like HousingWire Daily

    View all
    BiggerPockets Real Estate Podcast by BiggerPockets

    BiggerPockets Real Estate Podcast

    16,749 Listeners

    The Tom Ferry Podcast Experience by Tom Ferry

    The Tom Ferry Podcast Experience

    1,115 Listeners

    The Brian Buffini Show by Brian Buffini

    The Brian Buffini Show

    2,521 Listeners

    The ONE Thing by Keller Podcast Network

    The ONE Thing

    1,113 Listeners

    Tax Smart Real Estate Investors Podcast by Hall CPA

    Tax Smart Real Estate Investors Podcast

    426 Listeners

    RealTrending by RealTrends

    RealTrending

    15 Listeners

    Power House by HousingWire

    Power House

    63 Listeners

    Real Estate News: Real Estate Investing Podcast by Kathy Fettke / RealWealth

    Real Estate News: Real Estate Investing Podcast

    559 Listeners

    Ninja Selling Podcast by Ninja Selling

    Ninja Selling Podcast

    329 Listeners

    Ken McElroy Show by Ken McElroy

    Ken McElroy Show

    723 Listeners

    Hustle Humbly Podcast by Alissa Jenkins & Katy Caldwell

    Hustle Humbly Podcast

    907 Listeners

    Real Estate Rookie by BiggerPockets

    Real Estate Rookie

    1,819 Listeners

    BiggerPockets Daily by BiggerPockets

    BiggerPockets Daily

    319 Listeners

    On The Market by BiggerPockets

    On The Market

    901 Listeners

    The BetterLife Podcast by Brandon Turner and Cam Cathcart

    The BetterLife Podcast

    848 Listeners

    The Millionaire Real Estate Agent | The MREA Podcast by Keller Podcast Network

    The Millionaire Real Estate Agent | The MREA Podcast

    395 Listeners

    Top of Mind by HousingWire

    Top of Mind

    28 Listeners

    The David Greene Show by David Greene

    The David Greene Show

    706 Listeners

    House of Data by Altos Research

    House of Data

    4 Listeners

    The RMD Podcast by Reverse Mortgage Daily

    The RMD Podcast

    4 Listeners