Ishbia: “I Will Sleep on Their Couch Before I Lay Anyone Off”

Mat Ishbia, president and chief executive officer of United Wholesale Mortgage (UWM), addressed his team of 5,800 employees in a call on Thursday, and promised them their jobs are safe during the current Coronavirus pandemic.

 

"Our neighbors, family and friends are getting sick and losing their jobs at a staggering rate while facing incredible stress about their finances in the middle of this global crisis," said Ishbia in his address. "This is a scary time, but we are going to get through this as a team and as a family. Being a family company is not just a nice thing to say when it is convenient; it is the core of who we are. When times are tough, that is when family steps up for each other and carries one another through. Every single member of this family is equally important and I can't think of a better way to let 5,800 people know we've got their back than giving them job security at a time like this. I will sleep on their couch before I lay anyone off."

 

UWM also announced that it will continue to maintain a number of employee benefits, including: Free training for UWM clients, now available online with opportunities for attendees to ask questions and collaborate; a continuation of its online 3 o'clock dance parties, company contests, theme dress days and virtual workouts; and "UPerks," or discounts and offers made by partnering with businesses, including discounts at Rite Aid, a complimentary DashPass membership with Door Dash, and telemedicine services through its on-site provider, SALTA and waiving the fee.

 

"I am proud of what our team has been able to accomplish leading up to and during this time from setting records to the way we care about each other and our clients" said Ishbia. "Together, we can accomplish anything and when we are all able to be back together under one roof we will be stronger than ever."

 

UWM set a company record of $107.7 billion in mortgage loan volume in 2019, doubling its 2018 production of $41.5 billion, and breaking a mortgage wholesale industry record of $103.3 billion set in 2005 by Countrywide Financial.

---