By KIMBERLEY HAAS The CEO of United Wholesale Mortgage says they are excited about the potential ahead in 2025 after coming off a “banner year.” UWM Holdings Corporation announced on Feb. 26 that its loan origination volume in 2024 was $139.4 billion, up from $108.3 billion in 2023. Refinance originations increased from $14.4 billion in…
By KIMBERLEY HAAS As 2024 comes to a close, we are taking a look at what had the most impact on our audience this year. Articles and podcasts about advancements in technology, the National Association of Realtors settlement, and a class action lawsuit against United Wholesale Mortgage top the list. Advancements In Technology Technology and…
By KIMBERLEY HAAS Lawyers for the plaintiffs in a class action racketeering lawsuit against United Wholesale Mortgage are opposing efforts to have the case dismissed. It is alleged that UWM consumers were duped into overpaying for their loans by brokers who sent most of their business to the lender. 8,665 loan officers at mortgage brokers…
United Wholesale Mortgage announced a 60-day basis point pricing incentive for independent mortgage brokers. The program, “60 bps for 60 days,” is available for borrowers with a FICO score of 720 or higher through January 31, 2025. It applies to both conventional and government loans. This program is designed to help independent mortgage brokers stay…
By JARED WHITLEY Where’s the line between sound business strategy and ethical violations? What’s the difference between vertical integration and breaking the law? Those are the questions being raised about a United Wholesale Mortgage (UWM) website called MortgageMatchup.com. The Consumer Financial Protection Board (CFPB) is in the process of determining how the Real Estate Settlement…
By KIMBERLEY HAAS Lawyers for United Wholesale Mortgage have again moved to dismiss a class action lawsuit alleging that consumers were duped into overpaying for their loans by brokers who sent most of their business to the lender. They say the lawsuit reflects an unprecedented effort to smear UWM, its affiliates, and CEO Mat Ishbia…
United Wholesale Mortgage unveiled looser cash-out refinance guidelines to boost business, but some analysts worry it could stretch homeowners too thin. UWM launched a new 90% LTV cash-out refi that doesn’t require insurance. It’s painted as a way to “win more business and gain valuable referrals while helping borrowers take full advantage of their home…
By KIMBERLEY HAAS New court paperwork punches holes in claims made by United Wholesale Mortgage that a class action lawsuit brought against them was filed in bad faith. Lawyers for UWM say the lender became the victim of a coordinated campaign earlier this year when Hunterbrook Capital, its media arm Hunterbrook Media, and counsel for…
By JARED WHITLEY Is this Mat Ishbia’s “Vlade Divac” moment? Ishbia’s connections to basketball are well known, from his time on the 2000 Michigan State national championship team to his current “chaotic” ownership of the Phoenix Suns. And Divac, the Los Angeles Lakers star center, was also well known for “flopping” – pretending to have been fouled…
United Wholesale Mortgage has updated its broker-facing AI chatbot to provide advanced loan assistance. The company said ChatUWM, its AI technology, has new features that can lead brokers to faster, more complete loans. Brokers can now “chat” with documents by uploading them as a PDF and asking ChatUWM questions like “What are the seller credits?”…
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