United Wholesale Mortgage
United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, works exclusively with independent mortgage brokers to provide homebuyers and homeowners access to mortgage financing products. Headquartered in Pontiac, Michigan, UWM is publicly traded on the NYSE under the ticker UWMC.
UWM President and CEO Mat Ishbia has been one of the mortgage industry’s most vocal supporters for the wholesale mortgage market and the mortgage brokers that fuel wholesale originations. In 2021, roughly 20% of consumers worked with an independent mortgage broker for their home financing needs.
2020 Home Mortgage Disclosure Act (HMDA) data revealed UWM as the second-largest lender in the country and the largest purchase lender by volume. In an interview with HousingWire in March of 2021, Ishbia said, “I don’t have on my board that my goal is to be the No. 2 overall lender, it’s to be No. 1 and we’re going to do that.”
As a publicly-traded company, industry professionals and investors have gained deeper insight into the UWM growth strategy. In earnings calls, Ishbia has emphasized that UWM’s technology sets it apart from the competition and will allow it to win in a more purchase-heavy environment. Ishbia shared that keeping margins low is a tactic to grow the wholesale channel.
The mortgage origination market including wholesale lending and UWM is covered extensively in HousingWire’s LendingLife newsletter. Subscribe today.
Latest Posts
The Homepoint post-mortem: How one of America’s largest mortgage lenders went bust
May 16, 2023Homepoint struggled from relatively-weak capital position, a high cost structure, and chronic problems with underwriting and technology, former workers said.
-
UWM’s losses double in Q1, but margins climb to 92 bps
May 10, 2023 -
UWM offers dedicated loan coordinator to brokers
May 04, 2023 -
UWM moves to dismiss AML’s antitrust claim
Apr 24, 2023 -
UWM workers allege racial disparities, sexism and bullying: Bloomberg
Apr 13, 2023 -
UWM revives its conventional 1% down mortgage loan program
Apr 12, 2023 -
Here are the top 25 mortgage lenders in America for 2022
Apr 05, 2023 -
Rocket Mortgage to buyers: Use a partner agent, save big on closing costs
Apr 03, 2023 -
Gathering of Eagles is for mortgage professionals too
Mar 29, 2023 -
Home Point Capital seeks new CFO amid efforts to improve margins
Mar 06, 2023 -
Rocket has a plan to drastically cut costs. Does it go far enough?
Mar 03, 2023 -
UWM reports financial loss in Q4 but expects margins to rise in Q1
Mar 01, 2023