United Wholesale Mortgage reveals trailblazing move in support of wholesale channel growth
Rallies wholesale channel to be all in
Pontiac, MI, March 4, 2021 – United Wholesale Mortgage, (UWM), the #1 wholesale and purchase lender in America, today made a variety of announcements at the company’s State of the Industry address, via Facebook Live.
Mat Ishbia, president and CEO of UWM revealed significantly sharpened pricing across the board, the launch of Prime Jumbo, coming March 17, with LTV up to 89.99%, and the biggest move of all, UWM will no longer partner with those who partner with Rocket Mortgage and Fairway Independent Mortgage Corporation.
UWM is calling attention to lenders who are creating roadblocks for the broker community to thrive, and asking brokerages to make a decision on whether or not they are all in on the future of the wholesale channel. This move comes in response to Rocket Mortgage and Fairway Independent Wholesale participating in actions including soliciting loan officers away from brokers and working directly with real estate agents to cut brokers out of the entire process. After March 15, continuing to do doing business with UWM means these brokers can no longer do business with these two lenders.
“Independent mortgage brokers are leading a seismic shift in the mortgage industry and this does not align with the business model of some retail lenders,” Ishbia said. “That’s why they are attempting to circumvent the mortgage broker in the lending process. As the #1 advocate for independent mortgage brokers, protecting the wholesale channel is part of UWM’s responsibility, which is why we’re asking our partners to go all in with lenders who support them and their growth.”
This strategic move follows multiple technology and training programs launched by UWM, all of which help support independent mortgage brokers, at no cost
- Blink +, offers loan officer a point of sale, loan origination system and customer relationship manager all-in-one-package
- UWM InTouch, a mobile app providing brokers access to do almost every aspect of their jobs from the palm of their hands
- Brand 360, customized marketing assets, CRM and social media calendar to further help brokers with marketing and client retention efforts
- Success Track, a series of mortgage courses offered to UWM partners
- Partner Services, a business support team that provides brokers access to experts in IT, company culture, training, marketing and legal and compliance
“Certainty is what we provide to our partners,” Ishbia said. “Certainty, that we will never compete with them, instead we will provide the support they need to not only grow but thrive.”