PONTIAC, Mich.--(BUSINESS WIRE)--United Wholesale Mortgage, (UWM), the #1 wholesale and purchase lender in America, has officially surpassed Rocket Mortgage to become the #1 overall mortgage lender in the nation. This news comes after both companies announced financial results for the third quarter of 2022.
In June of 2021, Mat Ishbia, president and CEO of UWM, announced what many thought was an ambitious goal, that UWM would surpass Rocket Companies and become the #1 overall mortgage lender in the nation by 2024. Seventeen months later, the company can officially mark this goal as accomplished – ahead of schedule.
“I’m extremely proud of our team members and our broker partners for helping make UWM the #1 mortgage lender in America,” said Ishbia. “This isn’t just about UWM, it’s about the entire mortgage broker channel. Together, independent mortgage brokers and UWM are #1, and we’ve never had more momentum than we do right now. The wholesale channel is better for consumers and loan originators, and there’s huge room for opportunity and growth going forward. We’ll never relax. We’re going to continue educating borrowers, real estate agents and loan officers on the benefits of the wholesale channel and make sure they know it’s the best place for consumers to get a loan.”
Ishbia joined UWM in 2003 as the company’s 12th team member. He became president in 2009 when the company was ranked #75 wholesale lender in the nation and not in the top 150 overall lenders. In 2015, UWM became the #1 wholesale lender, a ranking it’s held for eight consecutive years. In 2021, the company went public through the largest SPAC in history at the time, and now, in 2022, UWM has been named the #1 overall mortgage lender in the country, the first wholesale-only lender ever to do so.
“This is the first time in history the #1 mortgage lender in America exclusively represents hardworking entrepreneurs – independent mortgage brokers – instead of institutions like mega banks or a gimmicky online app,” said Ishbia. “We’ve proven time and time again that the broker channel is the best place for a consumer to get a loan because it’s faster, easier and significantly cheaper in rates and fees for the borrower. On average, independent mortgage brokers save borrowers over $9,400 over the life of the loan and over $10,400 for minority borrowers. These types of findings have catapulted independent mortgage brokers and UWM to the #1 spot and we couldn’t be more excited to celebrate with our partners and team members.”
UWM has remained focused on propelling the mortgage broker channel forward. In the past year alone, it has made significant strides to provide brokers with a variety of product offerings and bring more awareness to the broker channel overall. From developing state-of-the-art technologies, to offering Game On pricing, the company’s main goal has been to ensure the broker community is set up to win in any market.
UWM supports independent mortgage brokers with industry-leading training, technology and service. For more information on how to sign up as a broker with UWM, visit www.UWM.com.
About UWM Holdings Corporation and United Wholesale Mortgage
Headquartered in Pontiac, Michigan, UWM Holding Corporation (UWMC) is the publicly traded indirect parent of United Wholesale Mortgage, LLC (“UWM”). UWM is the nation’s largest home mortgage lender, despite exclusively originating mortgage loans through the wholesale channel. UWM has been the largest wholesale mortgage lender for 8 consecutive years and is also the largest purchase lender in the nation. With a culture of continuous innovation of technology and enhanced client experience, UWM leads the market by building upon its proprietary and exclusively licensed technology platforms, superior service and focused partnership with the independent mortgage broker community. UWM originates primarily conforming and government loans across all 50 states and the District of Columbia. For more information, visit uwm.com or call 800-981-8898. NMLS #3038.
