Largest Mortgage Broker Shops in America are All-In with United Wholesale Mortgage

Independent mortgage brokers commit to no longer working with Rocket Mortgage and Fairway Independent Mortgage Corporation ahead of deadline

Pontiac, MI, March 11, 2021 – United Wholesale Mortgage, (UWM), the #1 wholesale and purchase lender in America, today announced a majority of the largest independent mortgage broker shops across the country have signed the UWM all-in addendum representing over 90% of broker shops who will no longer work with Rocket Mortgage and Fairway Independent Mortgage Corporation, exactly one week after the Facebook Live announcement.

The All-In addendum says after March 15, these broker owners are committed to the future growth of the wholesale channel and continuing to do doing business with UWM means these brokers can no longer do business with both Rocket Mortgage and Fairway Independent Mortgage Corporation. These lenders participate in actions that directly zero in on working around or cutting out the people at the heart of the wholesale community: loan officers and real estate agents. Over a year ago, broker powerhouses C2 Financial Corporation and NEXA Mortgage, LLC parted ways with Rocket because they saw practices taking place that were not supportive of the broker community.

“The support and appreciation we have received over the last week has far exceeded our expectations,” said Mat Ishbia, president and CEO of UWM. “Our partners understand the importance of working with a lender focused on the future growth of not only their business, but the entire channel.”

The list of broker shops who signed UWM’s addendum cited future growth, client service and technology as reasons for choosing to move forward, but above all else, a lender who they never need to worry about competing with them.

  • Joseph Shalaby CEO E Mortgage Capital said “We decided to stay with UWM because Quicken/Rocket is the sleeping Giant. The broker community continues to empower Rocket by expanding their wholesale channel thereby increasing the likelihood that their Rocket professional platform will gain more traction and create the potential of eradicating our past, present and future business relationships.”
  • Christoffer Groves Owner of Groves Capital said "When deciding between UWM and Quicken it was a clear option for Groves Capital to stay partnered with UWM, our go-to lender that backs the brokers, and provides the quickest turn times and the best customer service. It wasn't a hard choice to keep us brokers in the industry for the long haul, it was the right choice for longevity for my company and my partnered Loan officers. We are all in!”
  • Peter Galvez, Owner, United Wholesale Lending said "I am partnering with UWM because they have proven to be ALL IN on helping brokers win. The mortgage and real industry is changing. We have seen how Zillow and Redfin have leveraged technology in an attempt to slowly eliminate the need for local real estate agents. Similarly, we are seeing the same trend with certain lenders who are aggressively pursuing our past clients while simultaneously marketing directly to our Realtors®. UWM genuinely cares about the success of their partners and understands that the clients that we bring to them, are indeed "our" clients. They have done so much for brokers in terms of technology, resources, underwriting speeds and providing tools to maximize broker productivity and help us stay in front of our clients. UWM is focused on the long term success of the Broker community, which is the reason that our company has made the decision to avoid lenders that ultimately could be detrimental to our business."
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