As mortgage heads from UWM and Rocket fight it out in the press, it seems like both agents and consumers are just wondering how they’re going to pay the bills.
Category: uwm
United Wholesale Mortgage defends its business practices
Citing recent court victories, UWM says, “It is not uncommon nor illegal for a broker to send most or all of their business to a specific lender.”
UWM raises more than $1B by tweaking mortgage servicing
Nation’s largest mortgage lender trims its servicing portfolio by nearly one-fourth, selling $70 billion in mortgage servicing rights for $941.2 million.
Tough times for mortgage lenders? UWM hired 1,000 employees in Q3
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.
More lenders raise their conforming loan limit to $750K
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.
UWM rolls out ‘one-time-close’ new construction loan in time for spring
Homebuyers can put as little as 5 percent down when taking out a new construction loan, with one closing and an optional float-down to secure a lower interest rate, according to United Wholesale Mortgage.
After banner year, mortgage brokers seek more political clout
A trade group representing mortgage brokers launched a political action committee and more than doubled its spending on lobbying in 2022.