Volume spikes 62 percent from Q2 to Q3; on pace for record year in 2012
BIRMINGHAM, Mich., October 19, 2012 – United Wholesale Mortgage (UWM), a national wholesale mortgage lender operating in 49 states, announced that it grew its residential lending volume from $1.245 billion in Q2 to $2.019 billion in Q3, representing a 62 percent increase.
“The immense growth that we are experiencing is a direct result of the second-to-none service that is provided to our brokers, coupled with the innovative products and aggressive pricing we offer,” said Mat Ishbia, president of UWM. “Our companywide mantra is ‘Lending Made Easy,’ which is a steadfast commitment we make to our brokers in an effort to continually and consistently ensure that doing business with us is incredibly simple. At the rate we are growing, UWM is well on its way to becoming one of the top five wholesale lenders in the country.”
Throughout 2012, UWM launched several new products, programs and tools that have been key in driving its growth, which include: the innovative ELITE program for conventional products; ‘The Big and Easy,’ a true jumbo loan product on up to $2.5 million; HARP 2.0; the implementation of HARP 2.0 with up to 175% LTV/Unlimited CLTV with DU®; USDA products; and enhancements to its broker portal, EASE.
In addition, UWM regularly holds educational webinars for its brokers on industry trends, new products, effective sales and marketing strategies, and more. UWM also established and continues to build upon a superior, uniquely formed internal sales force model that engages in ongoing industry education and support for brokers.
UWM doubled its employee head count and has plans to hire another 400 over the next 12 months. The company will be relocating to a larger corporate headquarters in Metro Detroit by end of year to accommodate growth.