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.
[Op-ed] Mortgage lending is still often maligned in the mainstream press. When will coverage begin to accurately reflect all the hard work we, as lenders, put into getting Americans into homeownership? Here, Mat Ishbia, the CEO of United Wholesale Mortgage, calls out a CNN report that gets it so wrong.
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.
He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.
One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.
Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.