UWM Appoints Andrew Hubacker Chief Financial Officer

Rhea-AI Summary

United Wholesale Mortgage (UWM) has appointed Andrew Hubacker as its new Chief Financial Officer, effective immediately. Hubacker, who joined UWM in 2020 as Chief Accounting Officer, has been serving as Interim Principal Financial Officer since July 2022. He played a crucial role in UWM's successful public offering through the largest SPAC and has been instrumental in achieving the company's status as the #1 mortgage lender in the nation. Hubacker aims to enhance the finance team’s capabilities and maintain UWM's leading market position through innovative financial strategies.

Positive

• Andrew Hubacker brings nearly three decades of experience, enhancing leadership at UWM.
• Hubacker's prior role as Interim Principal Financial Officer and his contributions to UWM's public offering indicate stability in financial leadership.
• UWM has achieved the position of the #1 mortgage lender in the US, reflecting strong business performance.

Negative

• Hubacker replaces the late Tim Forrester, raising potential concerns about continuity and experience gaps in leadership.

PONTIAC, Mich.--(BUSINESS WIRE)-- United Wholesale Mortgage (UWM), the #1 overall lender in America, has named Andrew Hubacker its new Chief Financial Officer.

UWM's Chief Financial Officer, Andrew Hubacker (Photo: Business Wire)

Hubacker will assume the position immediately and will oversee all financial aspects of the company including accounting, internal and external reporting, financial compliance, tax, treasury and liquidity management, and budgeting and forecasting. Hubacker originally joined the company in October of 2020 as Chief Accounting Officer and took on the role of Interim Principal Financial Officer in July of 2022.

“Andrew has made such a positive impact at UWM since the day he started,” said Mat Ishbia, president and CEO of UWM. “His nearly three decades of experience and deep knowledge allowed him to expand our finance team’s capabilities and made him a key player in helping UWM go public back in 2021. He has been acting as the CFO since the passing of Tim Forrester, and has done a phenomenal job in all aspects. I know he’s capable of taking on this role and has been doing it at a high level already.”

Hubacker was originally recruited by the late Timothy Forrester, UWM’s previous CFO, to help take the company public via the largest SPAC in history at the time. Hubacker’s extensive background and expertise made him the perfect candidate for the role. In a condensed amount of time he helped implement new finance processes and programs to transition the company from private to publicly-held, shares of which trade on the New York Stock Exchange (NYSE).

More recently, Hubacker played a key role in helping UWM achieve its goal of becoming the number 1 overall lender in the nation by helping lead various initiatives to enhance the company’s liquidity and financial position. These initiatives have helped provide the company with the necessary liquidity to support its strategic objectives that ultimately helped UWM rise to the top.

“I’m humbled to be named UWM’s Chief Financial Officer,” said Hubacker. “From helping to take the company public through the largest SPAC in history, to becoming the #1 overall mortgage lender in the nation, my experiences at UWM have been nothing short of extraordinary. The positive mindset and service mentality every single team member and leader have here is truly unmatched. I’m eager to continue elevating and enhancing the role and capabilities of our finance team as a strategic business partner to the company.”

Prior to joining UWM, Hubacker spent 18 years at Deloitte & Touche, LLP, including over 12 years as an audit partner. He also spent time at AOL, LLC and the Securities and Exchange Commission (SEC). He is a Certified Public Accountant in the state of Michigan and graduated from Michigan State University with a bachelor’s degree in accounting.

Hubacker resides in Bloomfield Township, Michigan with his wife and three children.

About UWM Holdings Corporation and United Wholesale Mortgage

Headquartered in Pontiac, Michigan, UWM Holding Corporation (UWMC) is the publicly traded indirect parent of United Wholesale Mortgage, LLC (“UWM”). UWM is the nation’s largest home mortgage lender, despite exclusively originating mortgage loans through the wholesale channel. UWM has been the largest wholesale mortgage lender for 8 consecutive years and is also the largest purchase lender in the nation. With a culture of continuous innovation of technology and enhanced client experience, UWM leads the market by building upon its proprietary and exclusively licensed technology platforms, superior service and focused partnership with the independent mortgage broker community. UWM originates primarily conforming and government loans across all 50 states and the District of Columbia. For more information, visit uwm.com or call 800-981-8898. NMLS #3038.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230206005258/en/

NICOLE ROBERTS, Senior PR Strategist

(248) 833-4287

nroberts1@uwm.com

uwm.com

Source: UWM Holdings Corporation

FAQ

Who is the new CFO of UWM?

Andrew Hubacker has been appointed as the new Chief Financial Officer of United Wholesale Mortgage.

What are Andrew Hubacker's previous roles at UWM?

Hubacker previously served as Chief Accounting Officer and Interim Principal Financial Officer before becoming CFO.

What impact will Hubacker's appointment have on UWM's financial strategy?

Hubacker aims to enhance the finance team's capabilities, continuing UWM's focus on strategic financial leadership.

How did UWM achieve its position as the top mortgage lender?

UWM became the number one overall lender through various initiatives that improved its liquidity and financial position.

When did Andrew Hubacker join UWM?

Andrew Hubacker joined UWM in October 2020.