Mortgage Lender CEO Says “Everyone’s Winning Right Now” Amid Pandemic

On the same day the government announced 281,000 Americans filed jobless claims last week amid the coronavirus pandemic, United Wholesale Mortgage President and Chief Executive Officer Mat Ishbia declared “Everyone’s winning right now” in the mortgage market.

Ishbia, in an interview with Association of Independent Mortgage Experts (AIME), lashed out at critics Thursday for spreading “crazy rumors, crazy things” about his business, saying “things here at UWM have never been better.”

“I’m sure my competitors and other people in the industry, retail people, would love for UWM to not be strong and love for something to be behind the veil besides that UWM is going to be here for the long term helping brokers dominate,” Ishbia said.

See also: Ishbia says UWM avoids FHA loans.

Ishbia, who turned 40 in January, promotes himself as a “game-changer” who learned to compete while playing basketball at Michigan State for Tom Izzo. He has worked at the company, which was founded by his father, since graduating from college in 2003.

UWM, a $28 billion company, bills itself as “one of the largest, fastest-growing wholesale lenders in the United States.”

In the interview with AIME, Ishbia repeatedly stressed that UWM is “winning” and will have its best months ever in March and April – and that he is taking the long view on the mortage business.

“The reality is we are trying to win long term,” he said. “Everyone’s winning right now. We’re all going to win right now.”

He added, “Uncertainty creates fear. UWM has never been stronger. … We are in a position to $20 billion-plus this month, and we continue to grow.”

Watch the full interview here.