UWM Ranked Top Wholesale Lender for Fourth Consecutive Year
February 26, 2019
United Wholesale Mortgage (UWM) produced a company record $41.5 billion in loan volume in 2018, as it finished out the year as the number one wholesale mortgage lender for residential loans in the U.S., according to data compiled by Inside Mortgage Finance. Leading the wholesale channel for the fourth year in a row, UWM's production marked a 41 percent increase from its 2017 total ($29.5 billion), as the lender closed more than 145,000 home loans throughout the country and earned 22 percent of wholesale market share, sparked by a 52 percent year-over-year increase in loan volume in Q3.
"Finishing the year as the number one wholesale lender in America for the fourth straight year is a major accomplishment for our team, and the huge growth we've experienced speaks volumes about how much the Mortgage Broker channel is growing and thriving," said Mat Ishbia, President and Chief Executive Officer of United Wholesale Mortgage. "Every one of our more than 3,000 team members are all-in for Mortgage Brokers, and our commitment to exceeding client expectations by offering the best service, technology, partnership tools and pricing has rallied brokers around UWM."
UWM's success extended beyond the wholesale channel, as it passed Bank of America to become the fourth-ranked overall mortgage lender in America, only behind Quicken Loans, Wells Fargo and Chase. UWM was also the fastest growing lender in the entire mortgage market for 2018.
UWM grew its team by 500 people in 2018 and plans to hire around 800 more people in 2019, and in January, the company announced a major change to its pricing philosophy, removing all state adjustments and many Loan Level Price Adjustments (LLPA) as well.
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