Tag Archives: uwm

UWM’s best year for purchase loans also produces $69.8M loss

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The nation’s biggest mortgage lender posts its first annual loss since going public in 2020, largely driven by $854.1 million in write-downs of mortgage servicing rights. Continue reading →

House Hacking spiked amid COVID. In 2024, it will be a household name

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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. Continue reading →

First-timers ‘significantly’ less satisfied with mortgage lenders

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Homebuyers don’t just want good rates, they want lenders to solve problems that will keep them from getting to the closing table, J.D. Power finds. Continue reading →

WSJ eyes Mat Ishbia’s quest to be ‘king of mortgages and basketball’

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“The Wall Street Journal” alleges UWM CEO and Phoenix Suns owner is “charting a risky path in both business and sports,” but the Ishbia family is raking in hundreds of millions of dollars in profit even when the company is losing money. Continue reading →

Tough times for mortgage lenders? UWM hired 1,000 employees in Q3

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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. Continue reading →

More lenders raise their conforming loan limit to $750K

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Following Rocket’s lead, UWM and Guaranteed Rate say they’ll price mortgages of up to $750,000 as if they’re eligible for purchase by Fannie Mae and Freddie Mac in anticipation of expected 2024 increases. Continue reading →

UWM posts $229M Q2 profit as spring mortgage originations soar

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United Wholesale Mortgage, the nation’s largest lender, also raised refinancing volume by 23 percent after being hammered by higher interest rates, according to Q2 earnings released Wednesday. Continue reading →

US Bank, UWM join movement to boost minority lending

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With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities. Continue reading →

UWM says it’s hiring as Bloomberg details alleged ‘locker room culture’

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The nation’s biggest mortgage lender is planning to hire 500 people and is holding a job fair Saturday just days after a Bloomberg News expose of alleged drug use, discrimination and harassment. Continue reading →