United Wholesale Mortgage (UWM)
announced that it set a company record of $107.7 billion in mortgage loan volume in 2019. The Pontiac, Mich.-headquartered company noted this level was double its 2018 production of $41.5 billion and broke a mortgage wholesale industry record of $103.3 billion set in 2005 by the now-defunct Countrywide Financial.
The company also added that its 2019 year-over-year growth was 159 percent, the largest of any wholesale lender. UWM stated that it accounted for 32.7 percent market share in the first three quarters of 2019.
“We are proud of this amazing growth in 2019 which is truly tied to our mortgage broker clients along with our 5,000 team members here at UWM,” said Mat Ishbia, president and chief executive officer of UWM, adding that the company’s growth “is aligned to the growth of independent mortgage companies. Brokers have chosen to work with us because of the great client experience, technology and speed we provide them. The wholesale mortgage channel grew because more borrowers are realizing they get the fastest, easiest experience with the lowest rate by partnering with a local mortgage broker
UWM announced in July that it would add nearly 3,000 employees by 2025. The company currently employs approximately 4,100. To keep pace with its growth, UWM announced that it is acquiring a 900,000-square-foot office building
located across from its current 610,000-square-foot campus in Pontiac, Mich.