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United Wholesale Mortgage promotes broker growth through marketing and technology

2018 looks to be even bigger for wholesale lender


United Wholesale Mortgage topped off its record-breaking production last year by meeting an even bigger goal in 2017: closing more than 100,000 loans.

“It’s a testament to the great team members we have here at UWM who have done an amazing job, as well as the great mortgage brokers we partner with every day,” said Mat Ishbia, president and CEO of UWM. “One of the things we’re proudest of is how well our clients are doing; how much they’re growing their businesses.”

The company continues to be a champion for mortgage brokers, helping that segment grow to 15% of the market by educating borrowers and providing the critical tools brokers need to deliver an exceptional customer experience. This year UWM introduced the Blink and Virtual e-Closing platforms, bringing the automated loan process full circle, and revolutionizing the way brokers can make the loan process easier for borrowers.

“We’re going to do everything we can from a marketing and public relations standpoint to get messaging out that supports brokers as the best option for getting a mortgage,” Ishbia said. “Especially as Millennials continue to make up a growing majority of the purchase market, there is a lot of potential for us to raise awareness of brokers and provide education to help first-time buyers make better decisions.”

The company also relaunched its website as an all-inclusive hub for the vital information brokers need. UWM did a lot of research to find out which content and tools brokers most frequently looked for online, and built to be the destination to fulfill all those needs, saving brokers time as they no longer have to visit different sites for news or to compare rates or use a mortgage calculator.UWM logo

That broker-first commitment translates to impressive results for UWM’s brokers, who grew their business by 23% over the last year, as the larger industry declined by 17%. And UWM’s structure as a wholesale-only lender means that their brokers’ clients remain in the brokers’ pipeline. 

“Client retention is one of the biggest challenges that brokers face, simply because of the nature of the business. The fact that we only do wholesale has really helped us build strong relationships with brokers because they can trust us,” Ishbia said.

UWM is looking forward to a busy 2018, when it will expand into new headquarters to take its operations and client service to another level.

“Moving forward, there’s a lot of opportunity for us to continue bringing new technology and services to market and building meaningful relationships with mortgage brokers to make their jobs easier,” Ishbia said.

“We also want to take on an even stronger leadership role within the wholesale channel itself, doing what we can to grow mortgage broker market share from 15% to 20% and beyond. More can be done to effectively communicate the benefits of brokers to borrowers, loan officers and real estate agents, and we want to lead that charge.”

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