Skip to main content

UWM Records 52 Percent YOY Increase in Loan Volume

NationalMortgageProfessional.com
Nov 28, 2018
United Wholesale Mortgage (UWM), operating under parent company United Shore Financial Services, has announced that it will return $1.9 million in brownfield tax breaks that it received for its new $85 million, 600,000-square-foot headquarters in Pontiac,

United Wholesale Mortgage (UWM) has recorded a 52 percent year-over-year increase in loan volume, according to third quarter numbers published by Inside Mortgage Finance. That impressive surge in production was the fastest of any top 40 mortgage lender, with the majority of lenders experiencing negative growth or less than 10 percent growth in 2018.
United Wholesale Mortgage (UWM) has recorded a 52 percent year-over-year increase in loan volume, according to third quarter numbers published by Inside Mortgage Finance
 
Overall, Independent Mortgage Brokers have seen their business go up by 19 percent in the last nine months, while retail originations decreased by six percent.
 
“This is more of a mortgage broker story than a UWM story,” said Mat Ishbia, President and Chief Executive Officer of United Wholesale Mortgage. “UWM is growing loan production so quickly, and we’re hiring over 600 people a year, even while so many companies are slowing down and laying people off, because mortgage brokers are growing so fast. Realtors and consumers recognize that Mortgage Brokers are the best place to get a loan, and Loan Officers understand that a Mortgage Broker is the best place to work. UWM is growing on the back of Mortgage Brokers and we are proud to be part of this change.”
 
In the third quarter, UWM was the fourth-largest overall mortgage company, and once again,. the number two purchase lender in America among all retail and wholesale lenders, trailing only Wells Fargo. As interest rates continue to rise, UWM expects its purchase business, which is more than 75 percent of its loan volume, to continue.
 
“Our business has flourished because we have fantastic people and we constantly deliver amazing turn times and customized technology and marketing to our clients,” Ishbia said. “We’ll continue to hire great people so we can keep providing great service to brokers.”
 
UWM forecasts that its year-end loan volume to be around $41 billion, which would exceed the company’s all-time high mark of $29.5 billion (set in 2017) by nearly 40 percent.


 
Published
Nov 28, 2018
Home Partners Of America Launches Choice Lease Program

Home Partners of America launched its Choice Lease program aimed at addressing the affordable housing crisis and mortgage access challenges, that are faced by low-to-moderate-income families and underrepresented communities.

Industry News
Jan 17, 2022
KBRA Assigns Preliminary Ratings To OBX 2022-NQM1 Trust

Kroll Bond Rating Agency assigned preliminary ratings to six classes of mortgage pass-through notes from OBX 2022-NQM1 Trust, a $556.7 million non-prime RMBS transaction.

Non-QM
Jan 17, 2022
Zillow: Black Mortgage Applicants Denied 84% More Often Than White

Zillow recently analyzed data from the Home Mortgage Disclosure Act and found that Black mortgage applicants are denied a mortgage 84% more often than white applicants.

Analysis and Data
Jan 13, 2022
Mortgage Economic Review January 2022

The Mortgage Economic Review is a monthly summary of Key Economic Indicators, Data, and Events pertinent to Mortgage and Real Estate Professionals.

Analysis and Data
Jan 13, 2022
Fairway Independent Mortgage Corp. Puts Employees' Health First

Fairway Independent Mortgage continues to allow its employees to choose whether to return to the office or not.

Industry News
Jan 12, 2022
First American Agrees To Acquire Mother Lode Holding Co.

Acquisition would expand First American’s footprint in 11 states

Industry News
Jan 12, 2022