Here's how NAMB, UWM plan to revive the independent mortgage broker channel
The National Association of Mortgage Brokers, the association of mortgage professionals, and United Wholesale Mortgage announced a new initiative on Friday geared to help grow the mortgage broker channel.
In order to achieve this, the KickStart program offers grants to loan originators aspiring to open their own mortgage shops.
“At NAMB, our mission is to grow the mortgage broker channel, and the KickStart initiative shows how committed we are to putting our money where our mouth is,” said Don Frommeyer, CEO of NAMB. “We value the industry leadership and sponsorship UWM has provided to get this program off the ground, and we hope other lenders will participate in the program as sponsors as well.”
To help fund the initiative, United Wholesale Mortgage, the No.1 wholesale lender in the nation and the program’s first sponsorship partner, provided a $500,000 grant, which will be for qualified individual loan originators, up to $10,000 each.