by
Mat Ishbia and Dan Gilbert
Dan Gilbert’s Detroit-based Rocket Companies reported a net loss of $234 million in 2025, compared with a $636 million profit the previous year.
Matt Ishbia’s Pontiac-based UWM Holdings Corporation, a major competitor, reported net income of $244 million for the year, down from $329.4 million in 2024. UWM Holdings Corporation is the publicly traded indirect parent of United Wholesale Mortgage.
Both companies reported fourth-quarter profits, according to their financial statements posted on their websites.
Gilbert’s company, which includes mortgage, real estate, title, and personal finance businesses, reported net income profit of $68 million in the fourth quarter, down nearly 90 percent from $649 million in the same quarter in 2024.
Crain's Detroit Business reports that Rocket had a heavy year of acquisitions and saw its loan volume grow in 2025, despite ending up in the red.
"Strong fourth-quarter profits and revenue, however, following those acquisitions topped Wall Street analyst's expectations, and the company's shares soared in after-hours trading," Crain's reports.
Ishbia’s company reported $164.5 million in net income in the final quarter of 2025, up from $40.6 million during the same quarter in 2024.
“I am proud of our team. We had another strong quarter financially, and an outstanding year overall,” said Matt Ishbia, chief executive officer and president of UWMC, in a statement.
Both Gilbert and Ishbia own NBA teams. Gilbert owns the Cleveland Cavaliers, and Ishbia owns the Phoenix Suns.
