San Diego-based lender reports net loss for 2023 despite aggressive growth strategy.
Industry News
UWM's move comes amid rising credit report charges, providing relief to LOs.
Net losses for the fourth quarter totaled $59.8 million – a 43% jump from the third quarter “primarily due to revenues decreasing more than the decrease in expenses.”
In less than 10 years today’s guest went from high end retail to high tech mortgages.
Listen to the Mortgage Banker Magazine March 2024 cover story.
HUD Secretary Marcia Fudge to depart the Biden administration by the end of the month.
Regulators intensify crackdown on undisclosed fees, prompting industry backlash; CFPB asserts fees violate consumer protection laws, while Mortgage Bankers Association criticizes lack of understanding in agency's approach.
UWM attributes the surge in the wholesale channel's growth to increased consumer confidence in independent mortgage brokers, citing significant cost savings and expanded lender options for borrowers.