UWM

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.