Dateline: Birmingham, Michigan (BIRMINGHAM, Mich.) | Tue, 17 Jan 2012
freeNewsArticles Story Summary: “United Wholesale Mortgage (UWM), a national wholesale mortgage lender operating in 47 states, announced that in 2011 it significantly expanded its business in all functional areas, hired top executives, increased its workforce, implemented new technology and launched several new products. UWM plans to continue with its aggressive growth strategy as they remain focused on originating high quality loans in excess of $3.5 billion in 2012 and upwards of $8 billion by 2014.”
A R T I C L E:
United Wholesale Mortgage (UWM), a national wholesale mortgage lender operating in 47 states, announced that in 2011 it significantly expanded its business in all functional areas, hired top executives, increased its workforce, implemented new technology and launched several new products. UWM plans to continue with its aggressive growth strategy as they remain focused on originating high quality loans in excess of $3.5 billion in 2012 and upwards of $8 billion by 2014.
“2011 was a phenomenal year for UWM in terms of our growth and the impressive talent we acquired,” said Mat Ishbia, president of UWM. “Everything that we do revolves around providing top-notch service to our brokers and correspondents. Brokers can utilize our industry-leading technology, which helps them gain more market share in their territory, and in turn significantly increases our volume. We have earned a reputation for offering the highest quality of customer service, exceptional products and the ease to close loans quickly. As we move into 2012, we are looking to take our business to the next level by offering a full spectrum of mortgage products and warehouse lines to our broker network.”
Notable UWM products released in 2011 include:
* Introduced a rare $2.5 million dollar jumbo loan product, dubbed “The Big & Easy”;
* Among one of the first lenders to implement and roll out the changes to HARP 2.0;
* Launched the Pay Advantage loan – a Conventional product up to 97% LTV with no monthly M.I.;
* One of the few Lenders to offer Conventional Split M.I. products up to 97% LTV;
* Instant M.I. Certification on Conventional loans;
* The Patriot Plus VA IRRL.
Notable UWM accomplishments in 2011 include:
* Implemented EQ (Easy Qualifier), a proprietary product engine, which allows brokers to qualify and price a borrower on up to 10 products at once;
* Named to Mortgage Technology Magazine’s Top 25 Tech-Savvy Lenders List;
* Completely paperless process that embraces e-consent for borrowers;
* Hired hundreds of sales, operations and executive management staff;
* Launched an outside sales force to complement our inside division.
Company officials at UWM say they plan to double its number of employees and move to a new 100,000 square foot facility in the next 12 months.
About United Wholesale Mortgage:
Headquartered in Birmingham, Michigan, United Wholesale Mortgage underwrites and provides closing documentation for residential mortgage loans originated by mortgage Brokers, banks, credit unions and correspondents. UWM provides unparalleled service with its deep understanding of the mortgage process using its talented team of account executives, underwriters, closers and funders, who have years of experience with intricate knowledge in wholesale. UWM’s positive teamwork and dedication to exceptional customer service has resulted in continued success and growth that has spawned expansion. For more information, visit www.uwm.com or call 800-981-8898.
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• Story Title: United Wholesale Mortgage Experiences Explosive Growth and Product Expansion
• REFERENCE KEYWORDS/TERMS: Mat Ishbia, Birmingham, Michigan, top 25 tech-savvy lenders, Banking and Finance, Real Estate, Business, BIRMINGHAM, Mich..
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