Can this be true? If it is, can anyone suggest a good way of finding a reliable independent brokerage that could do such a loan? 之前我的appraisal因为有一点点违规，重贷的时候被汇丰拒了。后来找到人，找UWM重新order了，总之磕磕碰碰地过了。之前 5.25% F1签证外国人贷款。现在 2.642%。每个月少 2-300 百，很直观。 UWM的loan做的蛮快的。就正常一个批发银行，我当时也是查了一下他家，好像上市了看起来蛮大 UWM利率很好，approval很快，gift money很方便 UWM是全美最大的wholesale lender（rocket loan是它的死对头，他们都说自己是全美最大），效率很高，放款也很干脆，但是不同的underwriter审核的松紧度不一样，而且他们因为扩张，所以招了很多junior的underwriter，运气不好的话碰到一个不懂行的可能会卡你， 请推荐靠谱的UWM的加州的loan officer， 有会说中文的更好。请分享联系方式和姓名，有微信最好。谢谢了
United Wholesale Mortgage expects to soar past Rocket
Nobody wins a championship ring by saying, "Well, let's try to just lose that next game by only 2 points." United Wholesale Mortgage CEO Mat Ishbia — who made the Michigan State University basketball team as a walk-on and was part of MSU's wildly popular NCAA championship team in 2000 — knows the value of motivational speeches, hard work and aiming high. He brought in two NBA Hall of Famers — Magic Johnson and Isiah Thomas — to speak to United Wholesale Mortgage employees at the company's outdoor annual summer rally June 9 at the Pontiac headquarters. Last year's rally wasn't held due to the pandemic.
All in the office by mid-July On June 14, UWM began a five-week plan for phasing in the return of its workforce to the office. The goal is to have all 9,300 team members back in the office, full time, by mid-July. The company says it's aggressively hiring, too, as it grows. Ishbia set a bold goal at that internal rally that calls for surpassing Detroit-based Rocket Companies and driving his company to become the biggest mortgage lender in the U.S. in just three years. It's a pronouncement that's likely to further fuel the fire between two hometown rivals. Many homeowners have never heard of United Wholesale Mortgage but they've heard plenty about Rocket, which advertises nonstop and had a Super Bowl ad this year featuring comedian Tracy Morgan. CNBC's Cramer calls UWM stock 'cheap'
"Ambitious plan," said CNBC's Jim Cramer, host of "Mad Money," who had Ishbia on for a CEO guest interview on June 11. "But we like ambitious, especially when the stock is as cheap as this one. It sells for 11 times next year's earnings estimate. Plus they're paying you to wait with a nearly 4% dividend yield."
United Wholesale Mortgage's stock rose 5.8% in one day on June 11, closing at $10.22 a share. The stock had gained 52% in one month since its close of $6.72 on May 10. The stock pulled back since then. It closed at $9.78 a share Wednesday, down 3 cents, or 0.31%. Credit Suisse on June 2 downgraded the stock to neutral with a price target of $8.50 a share. The analyst report noted that positive factors for the company — including the dividend yield and cost structure — are already reflected in the stock price, which closed at $8.89 a share on May 28.
Ishbia not worried about meme status, short sellers
United Wholesale Mortgage has turned into a meme stock of sorts — including fairly high interest from short sellers, much chatter on social media trading platforms and some days with high trading volumes. United Wholesale Mortgage had a 16.9% short interest on Tuesday, according to S&P Capital IQ, a data division of S&P Global. That's up slightly from 14.4% in mid-May. That means many investors are looking to make money when the price of the stock declines.
Ishbia told me in a phone interview Tuesday: “What those people are doing is they’re shorting the industry a little bit and once they see we’re different than that, our stock will go up.” He said he's not worried about the short sellers. "Not even the least. Not one bit." “There’s not much upside in shorting a stock that’s $10 and there’s a lot of downside," he said. "When shorters have to pay a dividend, which is how it works, they actually have to pay the money out of their pocket," he said, and it becomes an even less attractive play. United Wholesale Mortgage paid a first-quarter dividend of 10 cents a share in April. The annual dividend is 40 cents a share. Ishbia said he believes his corporate goal to be No. 1 is "more than realistic." "I don't think it's ambitious at all," he said. "I think it’s what’s going to happen." United Wholesale Mortgage is the second-largest non-bank residential mortgage lender in the U.S., based on mortgage origination volume. Rocket is No. 1. United Wholesale Mortgage originates loans exclusively through a wholesale channel where independent brokers work directly with consumers who are shopping for mortgages. Rocket's power has been in the direct-to-consumer business model but the company is focused on growing its wholesale operation through broker channels, too. Ishbia, who says he isn't afraid of setting big goals, explained that several things will come into play in the next few years. "It looks like a wider gap than it really is," he said. Ishbia points out that neither company broke the $100 billion level until 2019. In 2019, he said United Wholesale Mortgage originated $108 billion in loans, while Rocket's Quicken Loans originated $145 billion.
Last year, the best year for the industry since 2003, Rocket did an eye-popping $320 billion in mortgage loan originations when refinancing activity was what Ishbia calls "off the charts." United Wholesale Mortgage did $182.5 billion. “Rocket is a great company, but they’re not going to do $300 billion every year,” Ishbia said. “The reality is as rates go up — and they will go up, it’s not going to be a refi boom for the next three years. And if it is, then I’ve got a lot of work on my plate.” While United Wholesale Mortgage benefits from refinancing activity, he said, it isn't the bulk of its business. It focuses more on home purchase activity. He said activity has remained strong and he expects to do more business in the second quarter than the first quarter, even after rates edged up slightly. “We’re going to have potentially our best quarter of all time” for mortgage volume, Ishbia said. He noted that the No. 1 overall lender is more likely to be doing a volume of around $200 billion in 2023 or 2024. "And we plan on being there and being No. 1," he said.
Why go with a mortgage broker?
Ishbia calls the money-saving strategy of working with a broker to find the best rate on a mortgage the "worst kept secret in America.” Many times, he said, you want to cut out the middleman to save money but homeowners typically save an average of $3,700 in the first five years if they use a mortgage broker instead of working with a larger bank or retail lender. The broker is able to find a loan with a lower rate and lower fees. “We don’t have to do TV commercials. We’re not going to the consumer," Ishbia said. "We’re going to the loan officers, and we’re helping them go to the consumer in each of their individual markets.” During the past two weeks, United Wholesale Mortgage offered a deal to brokers. If they spotted a loan that seemed to offer a better price or a little more commission elsewhere, Ishbia said brokers were told to first contact United Wholesale Mortgage to match that deal. (United Wholesale Mortgage has a site called FindAMortgageBroker.com.) Ishbia said roughly 1 in 5 consumers now work with an independent mortgage broker. As the mortgage broker channel continues to grow, though, he expects that number to change to 1 in 4 and later 1 in 3.
Is housing market too hot to buy now?
As for whether it's a good time to buy a house in a red-hot housing market, Ishbia said the ultra-low rates still make buying now very attractive. Part of the problem pushing up home prices, he said, has been the lack of inventory. He attributes some of that lack of inventory to special forbearance programs that were part of pandemic relief programs. The Federal Reserve Bank of New York reported in May that 2.2 million mortgages were still in forbearance in March. That number includes 1.2 million that entered forbearance in June 2020 or earlier. (The latest March data also reflects the inflows into forbearance that were offered as relief in Texas in response to the effects of the February winter storm there, the Fed noted.) "People aren't going to put their house on the market when they don't have to make a mortgage payment," Ishbia said. He expects that might change in the next six to nine months, as some relief ends.
"UWM''s new 15-year fixed-rate [''Conquest''] mortgages come with rates as low as 1.875% .... The loans are offered only through independent mortgage brokers ...." (Source URL: https://finance.yahoo.com/news/head-turner-mortgage-rates-15-060000865.html).
Can this be true? If it is, can anyone suggest a good way of finding a reliable independent brokerage that could do such a loan?
之前我的appraisal因为有一点点违规，重贷的时候被汇丰拒了。后来找到人，找UWM重新order了，总之磕磕碰碰地过了。之前 5.25% F1签证外国人贷款。现在 2.642%。每个月少 2-300 百，很直观。
UWM的loan做的蛮快的。就正常一个批发银行，我当时也是查了一下他家，好像上市了看起来蛮大
UWM利率很好，approval很快，gift money很方便
UWM是全美最大的wholesale lender（rocket loan是它的死对头，他们都说自己是全美最大），效率很高，放款也很干脆，但是不同的underwriter审核的松紧度不一样，而且他们因为扩张，所以招了很多junior的underwriter，运气不好的话碰到一个不懂行的可能会卡你，
请推荐靠谱的UWM的加州的loan officer， 有会说中文的更好。请分享联系方式和姓名，有微信最好。谢谢了
2008年房贷危机出现之前有一家贷款机构，名字忘记了，可能现在不在了，那时候网上设定自动付款还没有普及，很多人是用寄支票的方式，结果这家机构被很多人投诉，因为没有及时更新客户的付款记录，导致有些户主的房子收到警告信，被威胁要回收房屋。但是现在网络发展这么普遍，这种事情应该不会出现的。
Nobody wins a championship ring by saying, "Well, let's try to just lose that next game by only 2 points."
United Wholesale Mortgage CEO Mat Ishbia — who made the Michigan State University basketball team as a walk-on and was part of MSU's wildly popular NCAA championship team in 2000 — knows the value of motivational speeches, hard work and aiming high.
He brought in two NBA Hall of Famers — Magic Johnson and Isiah Thomas — to speak to United Wholesale Mortgage employees at the company's outdoor annual summer rally June 9 at the Pontiac headquarters. Last year's rally wasn't held due to the pandemic.
All in the office by mid-July
On June 14, UWM began a five-week plan for phasing in the return of its workforce to the office. The goal is to have all 9,300 team members back in the office, full time, by mid-July. The company says it's aggressively hiring, too, as it grows.
Ishbia set a bold goal at that internal rally that calls for surpassing Detroit-based Rocket Companies and driving his company to become the biggest mortgage lender in the U.S. in just three years.
It's a pronouncement that's likely to further fuel the fire between two hometown rivals.
Many homeowners have never heard of United Wholesale Mortgage but they've heard plenty about Rocket, which advertises nonstop and had a Super Bowl ad this year featuring comedian Tracy Morgan.
CNBC's Cramer calls UWM stock 'cheap'
"Ambitious plan," said CNBC's Jim Cramer, host of "Mad Money," who had Ishbia on for a CEO guest interview on June 11.
"But we like ambitious, especially when the stock is as cheap as this one. It sells for 11 times next year's earnings estimate. Plus they're paying you to wait with a nearly 4% dividend yield."
United Wholesale Mortgage's stock rose 5.8% in one day on June 11, closing at $10.22 a share. The stock had gained 52% in one month since its close of $6.72 on May 10.
The stock pulled back since then. It closed at $9.78 a share Wednesday, down 3 cents, or 0.31%.
Credit Suisse on June 2 downgraded the stock to neutral with a price target of $8.50 a share. The analyst report noted that positive factors for the company — including the dividend yield and cost structure — are already reflected in the stock price, which closed at $8.89 a share on May 28.
Ishbia not worried about meme status, short sellers
United Wholesale Mortgage has turned into a meme stock of sorts — including fairly high interest from short sellers, much chatter on social media trading platforms and some days with high trading volumes.
United Wholesale Mortgage had a 16.9% short interest on Tuesday, according to S&P Capital IQ, a data division of S&P Global. That's up slightly from 14.4% in mid-May. That means many investors are looking to make money when the price of the stock declines.
Ishbia told me in a phone interview Tuesday: “What those people are doing is they’re shorting the industry a little bit and once they see we’re different than that, our stock will go up.”
He said he's not worried about the short sellers. "Not even the least. Not one bit."
“There’s not much upside in shorting a stock that’s $10 and there’s a lot of downside," he said.
"When shorters have to pay a dividend, which is how it works, they actually have to pay the money out of their pocket," he said, and it becomes an even less attractive play.
United Wholesale Mortgage paid a first-quarter dividend of 10 cents a share in April. The annual dividend is 40 cents a share.
Ishbia said he believes his corporate goal to be No. 1 is "more than realistic."
"I don't think it's ambitious at all," he said. "I think it’s what’s going to happen."
United Wholesale Mortgage is the second-largest non-bank residential mortgage lender in the U.S., based on mortgage origination volume. Rocket is No. 1.
United Wholesale Mortgage originates loans exclusively through a wholesale channel where independent brokers work directly with consumers who are shopping for mortgages.
Rocket's power has been in the direct-to-consumer business model but the company is focused on growing its wholesale operation through broker channels, too.
Ishbia, who says he isn't afraid of setting big goals, explained that several things will come into play in the next few years.
"It looks like a wider gap than it really is," he said.
Ishbia points out that neither company broke the $100 billion level until 2019. In 2019, he said United Wholesale Mortgage originated $108 billion in loans, while Rocket's Quicken Loans originated $145 billion.
Last year, the best year for the industry since 2003, Rocket did an eye-popping $320 billion in mortgage loan originations when refinancing activity was what Ishbia calls "off the charts." United Wholesale Mortgage did $182.5 billion.
“Rocket is a great company, but they’re not going to do $300 billion every year,” Ishbia said.
“The reality is as rates go up — and they will go up, it’s not going to be a refi boom for the next three years. And if it is, then I’ve got a lot of work on my plate.”
While United Wholesale Mortgage benefits from refinancing activity, he said, it isn't the bulk of its business. It focuses more on home purchase activity.
He said activity has remained strong and he expects to do more business in the second quarter than the first quarter, even after rates edged up slightly.
“We’re going to have potentially our best quarter of all time” for mortgage volume, Ishbia said.
He noted that the No. 1 overall lender is more likely to be doing a volume of around $200 billion in 2023 or 2024. "And we plan on being there and being No. 1," he said.
Why go with a mortgage broker?
Ishbia calls the money-saving strategy of working with a broker to find the best rate on a mortgage the "worst kept secret in America.”
Many times, he said, you want to cut out the middleman to save money but homeowners typically save an average of $3,700 in the first five years if they use a mortgage broker instead of working with a larger bank or retail lender. The broker is able to find a loan with a lower rate and lower fees.
“We don’t have to do TV commercials. We’re not going to the consumer," Ishbia said. "We’re going to the loan officers, and we’re helping them go to the consumer in each of their individual markets.”
During the past two weeks, United Wholesale Mortgage offered a deal to brokers. If they spotted a loan that seemed to offer a better price or a little more commission elsewhere, Ishbia said brokers were told to first contact United Wholesale Mortgage to match that deal. (United Wholesale Mortgage has a site called FindAMortgageBroker.com.)
Ishbia said roughly 1 in 5 consumers now work with an independent mortgage broker. As the mortgage broker channel continues to grow, though, he expects that number to change to 1 in 4 and later 1 in 3.
Is housing market too hot to buy now?
As for whether it's a good time to buy a house in a red-hot housing market, Ishbia said the ultra-low rates still make buying now very attractive.
Part of the problem pushing up home prices, he said, has been the lack of inventory. He attributes some of that lack of inventory to special forbearance programs that were part of pandemic relief programs.
The Federal Reserve Bank of New York reported in May that 2.2 million mortgages were still in forbearance in March.
That number includes 1.2 million that entered forbearance in June 2020 or earlier. (The latest March data also reflects the inflows into forbearance that were offered as relief in Texas in response to the effects of the February winter storm there, the Fed noted.)
"People aren't going to put their house on the market when they don't have to make a mortgage payment," Ishbia said. He expects that might change in the next six to nine months, as some relief ends.
https://www.freep.com/story/money/personal-finance/susan-tompor/2021/06/17/uwm-expects-soar-past-rocket-companies/7682691002/