- Adjusted net income was $978 million and adjusted diluted EPS was $2.68, both slightly above Q3 2024.
- Adjusted operating income was $1.1 billion with a 68.4% operating margin.
- Average rate per contract was $0.702, generating $1.2 billion in clearing and transaction fees.
- Capital expenditures were approximately $19 million for the quarter.
- Cash balance at quarter-end was approximately $2.6 billion.
- Dividends paid totaled $455 million in Q3 and $3.5 billion year-to-date.
- Market data revenue reached a record $203 million, up 14% year-over-year.
- Third quarter 2025 revenue was $1.5 billion, down 3% from Q3 2024.
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- Adjusted net income was $587 million, driven by positive operating leverage and net revenue growth.
- Deposits grew by $3.3 billion or 2% sequentially, marking the 7th consecutive quarter of deposit growth.
- Loans increased by $3.5 billion or 2.5% sequentially, led by Global Fund Banking in SVB Commercial segment.
- Net charge-offs increased to $234 million (65 basis points), including an $82 million charge-off related to First Brands bankruptcy.
- Net interest income grew 2.3% sequentially, with headline NIM stable at 3.26%.
- Reported adjusted earnings per share of $44.62, adjusted ROE of 10.62%, and adjusted ROA of 1.01%.
- Tangible book value per share increased approximately 8% year-over-year and 2% sequentially despite $900 million in share repurchases during the quarter.
- Adjusted EBITDA was $195.7 million.
- Gain on sale margin increased to 113 basis points, up 19 basis points from Q1 2025.
- MSR portfolio stood at $211.2 billion UPB with a weighted average coupon of 5.51%.
- Net income was $314.5 million, including a $111 million decline in fair value of MSRs.
- Purchase originations totaled $27.3 billion, marking the third-best purchase quarter ever and tracking to over $100 billion for the year.
- Refinance volume doubled year-over-year to $12.4 billion, representing about 11% of the industry volume despite owning only 2% of the servicing market.
- Total equity increased to $1.7 billion and cash position was $490 million with total available liquidity of $2.2 billion.
- UWM reported $39.7 billion in production volume for Q2 2025, the best quarter since 2021 and nearly 20% higher than Q2 2024.
- Asset Management revenue for Q3 was $294 million, up 8% year-over-year and 10% sequentially.
- Average AUM for Q3 was $257 billion, 5% higher than Q3 2024, with total AUM at $265 billion as of September 30, up 7% year-over-year.
- Compensation expense ratio improved to 65.5% in Q3 from 66% a year ago; noncompensation expense ratio improved to 20.5% from 21.4%.
- Effective tax rate for Q3 was 21.4%, down from 32.5% in Q3 2024; full year 2025 tax rate expected around 20%.
- Financial Advisory revenue in Q3 was $422 million, up 14% from the prior year.
- Firm-wide revenue for the first 9 months of 2025 was $2.1 billion, including record financial advisory revenue of $1.3 billion.
- Net positive flows of $1.6 billion year-to-date with record gross inflows in Q3 and first 9 months.
- Third quarter 2025 firm-wide revenue was a record $725 million, up 12% year-over-year.
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