Items Tagged with 'United Wholesale Mortgage'

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United Wholesale: Closing times are still too long

Here's how to market to first-time homebuyers
In his monthly 3 Points video, which examines the latest trends in the real estate and mortgage industry, United Wholesale’s CEO pointed out that while time to close a loan is dropping, it is still too long. He talks about how brokers can capitalize on the longer closing times.
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Want to become a mortgage broker? Here are tips on how to get started

What are the common misconceptions?
Mortgage brokers fall into the entrepreneur/startup category of the mortgage finance world. After taking a serious hit in the aftermath of the financial crisis, the industry is seeing a rebound in interest, especially as people think about how much money they can make if they work hard. So do you have what it takes to become a broker? Here's some advice from brokers themselves on where to start.
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United Shore to pay $1.4 million for allegedly overcharging California borrowers

CEO Mat Ishbia: We didn't benefit one penny and not one borrower was harmed
United Shore Financial Services, the parent company of United Wholesale Mortgage, will pay $1.4 million as part of a settlement with the California Department of Business Oversight, which accused the lender of overcharging “thousands” of borrowers for interest on their mortgages. But the company's CEO says that the fine is for a long-fixed problem and that the company didn't benefit at all from the alleged overcharging.
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UWM: Industry is taking the wrong approach to protecting veterans

CEO explains why brokers’ future looks bright
United Wholesale Mortgage’s CEO explained that the industry’s current approach toward veterans and interest rate reduction refinance loans is in need of a change. In the company’s monthly 3 Points video, he notes: How about we do right by our veterans the first time and we won’t have this issue?
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Key to Millennial homeownership: Education

UWM says mortgage industry should do more to educate first-time homebuyers
A new study from United Wholesale Mortgage shows Millennials want to enter the housing market, but don’t know that they can. UWM explained the market needs to step up its game when it comes to first time homebuyers.
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[Video] Here’s how student loans hold back homeownership

Plus, will the FHA mortgage interest rate cut come back?
Student debt causes many Millennials to delay homeownership as they struggle to save up for a down-payment. As it turns out, this is not the only way student debt is holding back homeownership. United Wholesale Mortgage explains why, and gives it’s take on the reversal of the FHA mortgage interest rate cut in its February video.
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[Video] UWM CEO: Will the FHA lower mortgage insurance premiums?

MMI fund continues to come in above 2%
Ever since the Federal Housing Administration reported that its flagship fund reached the Congressionally mandated threshold of 2%, speculation has swirled about finally cutting mortgage insurance premiums. Watch the latest 3 Points video from Mat Ishbia, president and CEO of UWM, to see what he thinks will happen.
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United Shore lands on DOJ hit list, will pay $48M for FHA lending violations

Next in long line of lenders accused of violating False Claims Act
United Shore Financial Services will pay $48 million to settle allegations brought by the Department of Justice, which accused United Shore of violating the False Claims Act by “knowingly originating and underwriting” mortgages that did not meet FHA standards. The settlement makes United Shore just the latest in a long line of mortgage lenders that settled with the DOJ over alleged FHA lending violations.
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