PONTIAC, Mich., Feb. 25, 2019 /PRNewswire/ -- United Wholesale Mortgage (UWM) produced a company record $41.5 billion in loan volume in 2018 as it finished out the year as the No. 1 wholesale mortgage lender for residential loans in the U.S., according to data compiled by Inside Mortgage Finance.
Leading the wholesale channel for the fourth year in a row, UWM's production marked a 41% increase from its 2017 total ($29.5 billion), as the lender closed more than 145,000 home loans throughout the country and earned 22% of wholesale market share.
"Finishing the year as the No. 1 wholesale lender in America for the fourth straight year is a major accomplishment for our team, and the huge growth we've experienced speaks volumes about how much the mortgage broker channel is growing and thriving," said Mat Ishbia, President and CEO of United Wholesale Mortgage. "Every one of our more than 3,000 team members are all-in for mortgage brokers, and our commitment to exceeding client expectations by offering the best service, technology, partnership tools and pricing has rallied brokers around UWM."
UWM's success extended beyond the wholesale channel, as it passed Bank of America to become the fourth-ranked overall mortgage lender in America only behind Quicken Loans, Wells Fargo and Chase. UWM was also the fastest growing lender in the entire mortgage market for 2018.
Texas-based Caliber Home Loans, Inc. was the No. 2 ranked wholesale lender at $11.8 billion and a market share of 6.3%. UWM's production was 3.5 times Caliber and it has more market share than the next 7 top wholesale lenders combined.
UWM grew its team by 500 people in 2018 and plans to hire around 800 more people in 2019.
About United Wholesale Mortgage
Headquartered in Pontiac, Michigan, United Wholesale Mortgage (UWM) is the #1 wholesale lender in the nation, providing state-of-the-art technology and unrivaled client service, from the industry's leading account executives. Operating under parent company United Shore Financial Services, UWM is known for its highly efficient, accurate and expeditious lending support, UWM underwrites and provides closing documentation for residential mortgage loans originated by independent mortgage brokers, correspondents, small banks and local credit unions. UWM's exceptional teamwork and laser-like focus on delivering innovative mortgage solutions are driving the company's ongoing growth and its leadership position as the foremost advocate for mortgage brokers. For more information, visit www.uwm.com or call 800-981-8898. NMLS #3038.
SARAH DECIANTIS, CHIEF MARKETING OFFICER
[email protected] p (248) 833-4503
585 South Boulevard E. Pontiac, Michigan 48341
SOURCE United Wholesale Mortgage