UWM raises more than $1B by tweaking mortgage servicing
Nation's largest mortgage lender trims its $300B servicing portfolio by nearly one-fourth, selling $70B in mortgage servicing rights for $941.2M, excess cash flows on $19.4B in loans for $150.9M
by Matt Carter Mar 12
UWM's best year for purchase loans also produces $69.8M loss
Nation's biggest mortgage lender posts first annual loss since going public in 2020, largely driven by an $854.1M write-down in the value of UWM's $300B mortgage servicing rights portfolio
by Matt Carter Feb 28
House Hacking spiked amid COVID. In 2024, it will be a household name
Last month, Fannie Mae lowered its down payment minimum for some properties, clearing a path for investors like Alejandro and Jessicas Cuevas, who bought in Chicago with hacking in mind
by Taylor Anderson Dec 26
First-timers 'significantly' less satisfied with mortgage lenders
Homebuyers don't just want good rates. They want lenders to solve problems that will keep them from getting to the closing table, annual JD Power mortgage customer satisfaction survey finds
by Matt Carter Nov 16
Mat Ishbia
The article alleges UWM CEO and Phoenix Suns owner is 'charting a risky path in both business and sports' but the Ishbia family is raking in the profits even when the company is losing money
by Matt Carter Nov 15
Tough times for mortgage lenders? UWM hired 1,000 employees in Q3
While others are downsizing, the nation's biggest mortgage lender is investing in new technology and hiring new team members to be prepared if mortgage rates come down and business booms
by Matt Carter Nov 8
More lenders raise their conforming loan limit to $750K
Following Rocket's lead, UWM and Guaranteed Rate say they'll price mortgages of up to $750K as if they're eligible for purchase by Fannie Mae and Freddie Mac in anticipation of 2024 increases
by Matt Carter Oct 11
UWM posts $229M Q2 profit as spring mortgage originations soar
United Wholesale Mortgage, the nation's largest lender, also raised refinancing volume by 23% after being hammered by higher interest rates, according to Q2 earnings released Wednesday
by Matt Carter Aug 9
US Bank, UWM join movement to boost minority lending
With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities
by Matt Carter Jul 13
United Wholesale Mortgage shares tumble as originations fade
UWM CEO Mat Ishbia highlights 'operational profitability' as $337M write-down in fair value of mortgage servicing rights drives $138.6M Q1 loss
by Matt Carter May 10
UWM says it's hiring as Bloomberg details alleged 'locker room culture'
The nation's biggest mortgage lender is planning to hire 500 people and is holding a job fair Saturday just days after Bloomberg expose of alleged drug use, discrimination and harassment
by Matt Carter Apr 13
Rocket, UWM cut a combined 9,500 positions in 2022, new filings show
Companies say that instead of laying off workers, they're trimming their payrolls through attrition or by offering voluntary buyouts
by Matt Carter Mar 3
UWM posts $62M Q4 loss but keeps title of America's biggest lender
CEO Mat Ishbia says aggressive 'Game On' pricing is still in place, but acknowledges Pontiac-based wholesaler is seeking to boost profit margins in 2023
by Matt Carter Mar 1
Rocket CEO Jay Farner, who led company's 2020 IPO, retiring June 1
Former Rocket Mortgage CEO Bill Emerson will serve as the company's interim CEO and fill the board vacancy while its board of directors conducts a search for a permanent leader
by Matt Carter Feb 14
UWM rolls out 'one-time-close' new construction loan in time for spring
Buyers can put as little as 5% down when taking out a new construction loan, with 1 closing and an optional float-down to secure a lower interest rate, according to United Wholesale Mortgage
by Matt Carter Feb 6