Call UWM 800-981-8898
Many Millennials want to enter the housing market, and even could enter, but are unaware they already hold the resources they need for homeownership.
United Wholesale Mortgage recently conducted a study on Millennials, generally referenced as ages 20 to 36 and the largest living generation with 75.4 million, according to Pew Research Center.
“Most of them [Millennials] are on the fence not buying houses, and the big why behind that is they think they have to save up a lot more money for a down payment,” he said. “When you tell them that a down-payment can be as little as two months’ rent, 96% of them say they’ll buy, and that’s a big difference.”
The Federal Reserve raised short-term interest rates by a quarter of a percentage point today. In terms of suspense, this was the slowly inflating balloon that didn’t pop. The result: no surprise.
“There was a high likelihood that the Fed was going to raise rates, so that was already priced into the market,” Mat Ishbia, president and CEO of United Wholesale Mortgage, tells NerdWallet. As a result, housing experts don’t expect the latest Fed move to cause a sharp spike in mortgage rates.
The time for sitting on the sidelines is over.
With last year’s mortgage rates hitting historic lows and the Federal Reserve eyeing another rate hike later this year, prospective homebuyers have more reasons than ever to achieve their dreams of homeownership. But biding your time or using the wrong lender could cost you…big time.
Still unsure? Read on and see why low interest rates coupled with some of the best choices in mortgages are making 2017 a banner year for home-buying.
United Wholesale Mortgage recently launched its new Success Track program to give loan officers a head start on a career in the mortgage industry, the company said.
Held at UWM headquarters in Troy, MI, the program has already seen over 60 participants come through after having its first session in late-January. Open to licensed and unlicensed individuals looking to expand in the mortgage space, Success Track offers the options of a two-day or four-day program held twice monthly, providing more fully-comprehensive training to help brokers be successful in today’s competitive marketplace.
In what United Wholesale Mortgage CEO Mat Ishbia calls a shocking down payment study, the National Association of Realtors determined 87% of non-homeowners think they need at least 10% down in order to purchase a home.
With so many down payment programs available to homebuyers, Ishbia explained there’s no need for consumers to think they need a 10% down payment.
United Wholesale Mortgage (UWM) has been ranked the top wholesale mortgage lender in the nation for 2016, according to data reported by Inside Mortgage Finance. Claiming the top spot for the second year in a row, UWM produced an all-time company record loan volume of just under $23 billion for the year, a 77 percent year-over-year increase from 2015.
“It’s an awesome honor to place as the number one wholesale lender in the country for two years in a row,” said Mat Ishbia, president and CEO of UWM. “We’re very grateful for the strong partnerships we have with mortgage brokers, and we credit our partners across America who are growing faster than the rest of the market just like we are. This achievement is also a testament to the amazing talent and efforts of all our UWM team members.”
Troy-based United Wholesale Mortgage has been named the country's No. 1 wholesale mortgage lender by mortgage journal Inside Mortgage Finance, the company said in a news release.
United Wholesale, which commands a national market share of 11.1 percent, said it recorded its best loan volume of nearly $23 billion in 2016, a 77 percent increase from its 2015 loan volume. This mirrors the growth of its parent company United Shore Financial Services LLC, which expanded its headquarters and plans to hire 600 in 2017.
Competing in the digital age of fast, easy results is only getting more difficult as more lenders offer online direct-to-consumer loans, encroaching into mortgage brokers’ bread-and-butter trade.
“People are shopping online and we can’t fight that,” says United Wholesale Mortgage’s CEO, Mat Ishbia. “What we need to do is coach them to understand the difference of going direct to a lender. Educating customers and being competitive in the digital world is something loan officers and mortgage brokers have to do because there is a benefit to not going direct.”
If you want to be a good leader, you've got to actually interact with those that you're leading.
It seems like straightforward advice, but it can be difficult to implement.
"A lot of leaders struggle with being in the weeds of their business," UWM CEO Mat Ishbia says. "They think that they can just manage from 30,000 feet. That's not how successful companies are run."