Timothy J. Forrester, chief financial officer at wholesale lender United Wholesale Mortgage (UWM), died Sunday, following a cancer diagnosis and monthslong illness. He was 55.
Forrester, of Bloomfield Hills, Michigan, died “following a valiant battle against cancer,” according to an online obituary by the A.J. Desmond & Sons Funeral Home. “He died surrounded by the love of family and friends across the world.”
Forrester, who served as UWM’s CFO for 10 years, oversaw all financial aspects of the organization, from financial reporting to liquidity management, according to the company’s website. The executive had more than 30 years of experience including client service, auditing, accounting, financial reporting and hedging.
“Tim was an amazing CFO, leader and friend to so many,” UWM CEO Mat Ishbia wrote in a Tuesday LinkedIn post. “He made me a better CEO and helped build this company with me for the last 10 years. Tim made such a positive impact on everyone he met, and I was proud to call him a friend. He will be greatly missed.”
A UWM spokeswoman provided a company statement when asked for additional details of Forrester’s achievements.
“Tim was a friend to everyone, and he was always willing to share his knowledge and insight to make UWM and our team members better,” the spokeswoman wrote in a Wednesday morning email. “Over his 10 years at UWM, he made us laugh, he educated us and he helped to cultivate a one-of-a-kind work family.”
Before joining UWM in 2012, Forrester was a partner in the capital markets group at Deloitte & Touche for more than 18 years.
He also was a longtime member of the Mortgage Bankers Association (MBA), serving on its finance committee, according to UWM. He was elected as a member of the MBA’s Commercial Mortgage Board of Governors, serving as the lone “Big 4” representative. In 2021, Forrester was named as one of HousingWire’s finance leaders.
Forrester was well-liked by his colleagues, who described him as positive and optimistic, with a tremendous sense of humor.
“When he told the team about his diagnosis, we were devastated for him; but he remained poised with confidence and positivity,” Darin Sitto, director of accounting policy at UWM, wrote in a comment under Isbia’s LinkedIn post.
“He stood up in the middle of our huddle and was certain he was going to fight like hell to beat it. That moment will live in my mind forever,” said Sitto, who joined the team just 1.5 years ago.
Brinda Jaikumar, a director of financial compliance at UWM, said Forrester was one of the “sharpest and wittiest people,” yet showed “so much humility, kindness and compassion in such an effortless way.”
She added: “He was a remarkable man and he showed what positivity and strength is through the most difficult fight of his life over the last many months.”
A memorial for Forrester will be held at 5:30 p.m. July 21 at A.J. Desmond & Sons Funeral Home, 32515 Woodward Ave. in Royal Oak, Michigan.
Andrew Hubacker, senior vice president and chief accounting officer, will serve as the interim principal financial officer, according to the firm’s 8-K current report filing.