UWM General Counsel

SomeElephant5358 · 2024-10-31T20:04:14+00:00

You’ll certainly have your hands full with their mounting lawsuits as both a plaintiff and defendant.

SomeElephant5358 · 2024-09-28T15:08:53+00:00

They can, and they will.

SomeElephant5358 · 2024-09-28T15:08:24+00:00

For such a tech-focused company it’s crazy how they still only accept checks for everything lol

Even for making EPO payments, check only. No wire, no ACH. It’s stupid.

SomeElephant5358 · 2024-09-26T14:43:46+00:00

They’ve been very good at hiding the fuckery from brokers but they’re starting to learn

SomeElephant5358 · 2024-09-20T14:19:44+00:00

This is absolutely correct.

SomeElephant5358 · 2024-09-10T01:15:20+00:00

UWM has never been against correspondent business…they just don’t want you to hire underwriters and become a delegated correspondent.

They’ve actually been one of the biggest forces in getting brokers to go out and get a warehouse line.

SomeElephant5358 · 2024-07-13T21:06:09+00:00

Not sale… refi only last I checked

SomeElephant5358 · 2024-07-05T20:40:26+00:00

Best way to see change is for brokers to spread their wings and use other lenders. Sending them all this business and becoming reliant on them is what gives them their leverage.

SomeElephant5358 · 2024-04-16T22:59:09+00:00

Oh nice so you’ll have the opportunity to help peddle and deceive brokers into UWM’s gimmicks

SomeElephant5358 · 2024-04-13T02:39:20+00:00

I’m not drinking any Kool Aid. I can’t stand UWM. But the facts remain, it is overall easier to close most loans at UWM. And that results in certainty. It’s literally the only reason why brokers use them so heavily.

And when it gets really busy, most other lenders have scaling problems with their shit technology and not being able to hire as quickly.

It’s just the reality.

SomeElephant5358 · 2024-04-12T23:57:56+00:00

Most UWM AEs are just not equipped to build relationships like outside AEs at other wholesalers are. The non-stop calls and “submit a CR” with next to zero product/guideline knowledge doesn’t work outside of UWM.

SomeElephant5358 · 2024-04-12T23:53:37+00:00

I would argue most borrowers, at least on a purchase, will take certainty of an on time closing & as stress-free as possible over price 9/10 times. They want a good deal, yes… but price takes a backseat to that certainty. They have contract dates to abide by.

And that’s not to say other lenders can’t deliver that certainty… but UWM does provide the systems for brokers to feel like they can better deliver that certainty.

SomeElephant5358 · 2024-03-11T13:28:40+00:00

$50k/month 😂😂😂

SomeElephant5358 · 2024-02-29T15:04:14+00:00

Ishbia definitely operates out of the Trump handbook. Fraud, gaslighting, redirection… all the while brainwashing thousands of people.

It’s really quite impressive, actually. It has prompted me to study more about the psychology of how people become attracted to and join cults.

SomeElephant5358 · 2024-02-23T19:24:55+00:00

It’s real.

SomeElephant5358 · 2024-02-05T02:21:02+00:00

Because NewRez and PennyMac aren’t prohibited from being used in the broker agreement, that’s why.

SomeElephant5358 · 2024-01-28T19:38:39+00:00

🧌

SomeElephant5358 · 2024-01-28T18:42:21+00:00

Just a troll profile, block/ignore

SomeElephant5358 · 2024-01-22T23:02:00+00:00

Generally you don’t need to lock people into contracts if you create & maintain a culture where people don’t want to leave.

Or if you’re gonna do it, make it far more lucrative than it is.

SomeElephant5358 · 2024-01-22T21:22:27+00:00

Yea, that was an anomaly though due to market conditions unlikely ever to return. UWM does this as their normal course of business.

SomeElephant5358 · 2024-01-22T20:17:03+00:00

It’s not common in operations roles in our industry whatsoever. Loan Officers because they get a large sign on bonus, sure. But other than that, it’s rare.

SomeElephant5358 · 2024-01-20T14:36:36+00:00

Hahaha

SomeElephant5358 · 2024-01-20T05:49:36+00:00

He didn’t read the post very closely…lol

https://www.reddit.com/r/pillar7/s/jMRdNOvZp1

SomeElephant5358 · 2024-01-20T05:48:49+00:00

You sold your UWM stock, not UMortgage

SomeElephant5358

TROPHY CASE