The feat particularly is telling as UWM originates mortgages exclusively through the independent brokers who work directly with homebuyers and homeowners to find the best loan for them across multiple lenders.
As the mortgage/housing industry has had a dramatic shift in 2022 this article offers input as to why it can be better to utilize a trusted and strong mortgage broker. Broker’s, in general, are community based and as the market has shifted from refinance to purchase with us as brokers being located in the community, understanding the local market, working with partnered agents will deliver the client the best experience and value. In regards to value you can see with in the article there is validation to broker’s being more cost effective in completing your loan. If you compare UWM’s gain on sale (margin) of .4-.7% to Quicken’s gain on sale (margin) at 2.3 -2.6% this simple says Quicken charges you more to do your loan.
Article: United Wholesale Mortgage surpasses Rocket Mortgage in mortgage originations in third quarter
Source: www.DetroitNews.com
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