UWM lines up record $2.05B Ishbia–Oaktree capital raise as it posts Q2 loss

UWM Holdings Corp. is pairing the announcement of a record $2.05 billion strategic capital partnership with its second-quarter 2026 results, which show the nation’s largest mortgage lender is still leaning into growth despite higher leverage and moving into the red. In an internal memo to employees reviewed by HousingWire, chairman, president and CEO Mat Ishbia told staff that UWM has “just finalized the largest capital raise in mortgage industry history, totaling more than $2 billion.” Ishbia said he is personally investing through the Ishbia family’s new vehicle, SFS Group Capital, alongside Oaktree Capital Management, and calls the transaction “a powerful endorsement from both me and one of the world’s premier investment firms.” The move comes as UWM lost its bid to acquire Two Harbors Investment Corp. to CrossCountry Mortgage (CCM), when its leverage was pointed out as an issue by analysts. Ishbia framed the investment as giving UWM “even more strength to keep investing in our people, technology, innovation and the opportunities ahead.”The public announcement of the capital raise was released on Wednesday in conjunction with UWM’s second-quarter 2026 earnings. The company is al...