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.
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UWM offering 61 bps on conventional loans through March 8
Jan 06, 2021“Our competitors are going to follow us, I’m sure,” said President and CEO Mat Ishbia. “I’m sure they’ll sharpen prices and even brokers who don’t use UWM will get a better price because everyone’s got to chase UWM.”
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UWM’s IPO is now scheduled for January
Dec 18, 2020 -
Three brokers go to war with United Wholesale Mortgage
Dec 16, 2020 -
UWM now offering ultra-low mortgage rates on FHA loans
Dec 02, 2020 -
2020 HW Tech Trendsetter: Justin Glass
Dec 01, 2020 -
Cash is king: UWM raises $800M in debt offering ahead of IPO
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Oct 20, 2020 -
Ahead of its big IPO, United Wholesale Mortgage reports record volume and margins
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2020 HW Vanguard: Katie Foster
Oct 01, 2020 -
UWM to knock 50 bps off VA IRRRL loans
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As UWM attempts to build an empire, brokers and rivals weigh in on Mat Ishbia’s $16B plan
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