Once the nation’s largest home lender, Wells Fargo could be poised for a comeback in the mortgage business this year as it continues to make progress in addressing regulators’ concerns about its past practices.
Category: uwm
RE/MAX’s Motto Mortgage office count contracted again in Q4
After four consecutive quarters of declines, Motto Mortgage had 225 open offices at the end of 2024, down 8 percent from last year’s peak of 246.
UWM and Rate join the $802K conforming loan limit party
With prices rising, it’s becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA’s official announcement.
UWM’s controversial mortgage site now an official NBA partner
Lawsuit alleges search results on Mortgage Matchup are “designed to steer borrowers to brokers who funnel nearly all their business to UWM, regardless of whether UWM offers the most competitive loan terms.”
Billionaires brawl as everyone else just tries to get by: The Download
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.
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.