Mat Ishbia is President and CEO of United Wholesale Mortgage. One of the nation's leading advocates for wholesale lending, Mat has changed the lending platform, turning UWM into a $28 billion company and the No. 1 wholesale lender in the country.
From our perspective at UWM, our business has been built on supporting growth initiatives of brokers and that will continue to be our top priority. We buy loans, not customers. One thing that separates us from our competitors is the effort we put in to delivering the best partnership tools in the industry, so that our brokers can keep their clients.
The mortgage business is great for sales professionals who have an entrepreneurial spirit and are relationship-driven. When comparing both sides of the wholesale vs. retail debate — or mortgage broker vs. bank — there is no doubt that the best way for loan officers to grow their business and take greater control over their career is through the wholesale channel.
[Subscribers only] Multigenerational living, where two or more adult generations live under the same roof, is becoming a growing trend in the U.S. Currently about 19% of Americans now live in a multigenerational household, the highest level since 1950. That amounts to about 60.6 million adults in 2014, up from 57 million adults in 2012. And homebuilders have taken notice, designing houses specifically catered to this segment.
Would-be homeowners are inundated with picture-perfect examples of new and remodeled homes brimming with upgrades. But in the real world, homebuilders and investors must calculate the rate of return on these sometimes fleeting trends, weighing what buyers want with what they can actually afford. This feature looks at which features buyers of different age demographics consider the most important, and what that means for sellers.
We’ve found that the handling and posting of payments during bankruptcy has been a widespread issue in our testing environment. Specifically, there is increased risk exposure in pre-and post-petition payment application and treatment, both inside and outside of the bankruptcy plan. Servicers and sub-servicers have created manual workflow workarounds to address the issue, however, it does open the servicer up to more exposure to calculation errors.