UWM Commits Additional Funding to NAMB’s KickStart Program

Aug 29, 2017

United Wholesale Mortgage (UWM) has announced that it has contributed an additional $100,000 to the KickStart program being run by NAMB—The Association of Mortgage Professionals. The move is sparked by UWM’s desire to continue supporting entrepreneurs and enhancing the presence of mortgage brokers throughout the country.

“We are passionate about helping mortgage brokers grow and thrive, as we believe it is the best way for a consumer to get a loan and the best place for a loan originator to work,” said Mat Ishbia, President and Chief Executive Officer at UWM. “Brokers are a more efficient and cheaper model than retail lenders and banks. We are excited to continue supporting their growth by contributing to the NAMB KickStart program.”

NAMB KickStart has been an effective growth engine for the industry, serving as a springboard to more than 40 independent mortgage broker shops throughout the country since the program launched in September 2016. Recipients are gifted up to $10,000 for initial startup cost such as office space and furniture, loan origination software and even leads.

UWM supported NAMB KickStart out of the gates, pledging $500,000 as the program’s founding sponsor.

“Although we are the founding sponsor, KickStart isn’t a UWM thing … it’s about growing the entire wholesale mortgage channel,” Ishbia said. “We’d love to see more wholesale lenders and providers hop on board and contribute to the program. With more funding NAMB and KickStart can help support more entrepreneurs start mortgage broker shops, which ultimately benefits everyone.”

Up until 2008, independent mortgage brokers made up nearly 33 percent of the mortgage market. Currently, they hold around 13 percent of the mortgage market and are trending upward.

In a survey that NAMB distributed to approximately 200 retail loan originators and bankers around the country prior to launching KickStart, roughly 70 percent of respondents reported an interest in owning their own mortgage shop. In the same survey, 44 percent of respondents indicated money as their primary barrier to opening their own business, but 60 percent said they would be more inclined to take the chance if given assistance with the startup costs.

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Aug 29, 2017

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