UWM

Bilt raised $250 million in the funding round led by General Catalyst and real estate investor GID, which were joined by home lender United Wholesale Mortgage, it said in the letter.

It's a rare theft of trade secrets complaint by the industry leader, which stayed out of the spate of litigation between competitors during the refinance boom.

Former account executives say the lender stiffed its workers by letting their retirement contributions cover plan expenses, rather than use existing funds.

Notable changes in executive compensation at public IMBs heavily relied on stock awards received that year.

The industry leader has simultaneously staved off lawsuits over its initiative and reached a settlement with one brokerage which allegedly violated its terms.

One of the tools introduced is a voicebot, dubbed Mia, which helps with consumer retention by making calls to check on clients for UWM broker partners.

United Wholesale Mortgage originated $32.4 billion, up 17% year-over-year and its best first quarter since 2022, helped by refinance volume of $10.6 billion.

Atlantic Trust Mortgage was recently dealt another legal blow after a federal judge in Michigan refused to dismiss UWM's All-In lawsuit against the brokerage.

The wholesale lender dubbed the development a "huge win" for itself and the broker community.

Ligation by the Ohio attorney general claims UWM has turned brokers in its network into retail loan officers who solely work for the company.

The leading lender says its underwriters have already used Google's technology to improve from six loans a day to 14.

UWM, embroiled in an us-or-them feud when it comes to business partners working with Rocket, terminated its subservicing and sales deals with Mr. Cooper.

The company missed analysts' quarterly forecasts on operating earnings per share due to higher mortgage servicing rights amortization and operating expenses.

Mat Ishbia urged brokers to understand how the increases in credit score and report costs affect both them and the borrowers they serve.

The wholesale lender introduced two new products to brokers and a $800 million debt offering to drum up cash.

United Wholesale Mortgage beat its own guidance on originations and gain on sale margins third quarter earninga, helped by an uptick in refinance volume due to lower rates in August and September.

The lender claims the offering is the only one of its kind in today's mortgage market.

The new offering from United Wholesale Mortgage replaces a July through Labor Day promotion that only covered certain FHA and VA refinance products.

Borrowers who worked with third party originators last year will save on average over $10,000 over the life of their loan, according to an analysis of public data.

10-Q filings with the SEC reveal additional information regarding the financial wherewithal of public mortgage lenders in the second quarter.