Suppose that $U_A |0\rangle = |\psi_A \rangle = \begin{pmatrix}A_1 \\ A_2 \end{pmatrix}$ and $U_B |0\rangle = |\psi_B\rangle = \begin{pmatrix} B_1 \\ B_2 \end{pmatrix}$.
Then we have $|\psi \rangle = (U_A \otimes U_B) |00\rangle =(U_A \otimes U_B) (|0\rangle \otimes 0\rangle ) = U_A|0\rangle \otimes U_B|0\rangle = |\psi_A\rangle \otimes |\psi_B\rangle$
We can also write $|\psi \rangle = \begin{pmatrix}A_1 \\ A_2 \end{pmatrix} \otimes \begin{pmatrix}B_1 \\ B_2 \end{pmatrix} = \begin{pmatrix}A_1B_1 \\ A_1B_2 \\ A_2B_1 \\ A_2B_2\end{pmatrix}$
and hence $|\psi \rangle \langle \psi|$ is
$$ \begin{pmatrix}A_1B_1 \\ A_1B_2 \\ A_2B_1 \\ A_2B_2\end{pmatrix} \begin{pmatrix} A_1^*B_1^* & A_1^*B_2^* & A_2^*B_1^* & A_2^*B_2^* \end{pmatrix} =
\begin{pmatrix}
|A_1|^2 |B_1|^2 & |A_1|^2B_1B_2^* & A_1A_2^*|B_1|^2 & A_1A_2^*B_1B_2^* \\
|A_1|^2 B_2B_1^* & |A_1|^2|B_2|^2 & A_1A_2^*B_2B_1^* & |A_2|^2|B_2|^2 \\
A_2A_1^* |B_1|^2 & A_2A_1^*B_1B_2^* & |A_2|^2|B_1|^2 & |A_2|^2B_1B_2^* \\
A_1^*A_2 B_1^*B_2 & A_2A_1^* |B_2|^2 & |A_2|^2B_2B_1^* & |A_2|^2 |B_2|^2 \\ \end{pmatrix}$$
Now, we also have that $\rho_A = |\psi_A \rangle \langle \psi_A | $ and $\rho_B = |\psi_B \rangle \langle \psi_B| $ so therefore
$$\rho_A = \begin{pmatrix} |A_1|^2 & A_1 A_2^*\\ A_2 A_1^* & |A_2|^2 \end{pmatrix} \hspace{1 cm} \rho_B = \begin{pmatrix} |B_1|^2 & B_1 B_2^*\\ B_2 B_1^* & |B_2|^2 \end{pmatrix} $$
and therefore,
$$\rho_A \otimes \rho_B = \begin{pmatrix} |A_1|^2 & A_1 A_2^*\\ A_2 A_1^* & |A_2|^2 \end{pmatrix} \otimes \begin{pmatrix} |B_1|^2 & B_1 B_2^*\\ B_2 B_1^* & |B_2|^2 \end{pmatrix} = \begin{pmatrix}
|A_1|^2 |B_1|^2 & |A_1|^2B_1B_2^* & A_1A_2^*|B_1|^2 & A_1A_2^*B_1B_2^* \\
|A_1|^2 B_2B_1^* & |A_1|^2|B_2|^2 & A_1A_2^*B_2B_1^* & |A_2|^2|B_2|^2 \\
A_2A_1^* |B_1|^2 & A_2A_1^*B_1B_2^* & |A_2|^2|B_1|^2 & |A_2|^2B_1B_2^* \\
A_1^*A_2 B_1^*B_2 & A_2A_1^* |B_2|^2 & |A_2|^2B_2B_1^* & |A_2|^2 |B_2|^2 \\ \end{pmatrix}$$
And therefore, $|\psi \rangle \langle \psi |= \rho_A \otimes \rho_B$