united wholesale mortgage broker
Shopping for a mortgage can be a daunting and overwhelming process. With so many options to choose from, it can be difficult to know where to start. That’s why many people turn to United Wholesale Mortgage, the largest mortgage broker in the United States. At United Wholesale Mortgage, you can find all of your home loan needs under one roof – no matter what stage of the homebuying process you are in.
In this blog post, we will explore the services and benefits that come with using United Wholesale Mortgage as your mortgage broker. We’ll look at how UWM stands out from other brokers, why UWM is perfect for first-time buyers, and much more. Read on to find out why UWM is the right choice for your next home loan!
Breakdown of United Wholesale Mortgage overall score
As a mortgage broker, United Wholesale Mortgage (UWM) offers a variety of services that can help you get the best possible deal on your home loan. But how does UWM stack up when it comes to overall customer satisfaction?
Here’s a breakdown of UWM’s overall score from the most recent J.D. Power Customer Satisfaction Survey:
Overall satisfaction: 4/5
Application process: 4/5
Loan closing process: 3/5
Lender communication: 4/5
As you can see, UWM scores quite high in terms of overall customer satisfaction. In fact, they are one of the highest rated mortgage brokers in the industry. Where they fall short is in the loan closing process, which is something you should keep in mind if you are considering using their services.
Pros and Cons
There are many pros and cons to working with a wholesale mortgage broker. On the plus side, wholesale mortgage brokers have access to a large network of lenders and can often get very competitive rates for their clients. They also have a lot of experience in the industry and can offer advice and guidance throughout the loan process.
On the downside, wholesale mortgage brokers typically charge higher fees than other types of brokers. They may also be less flexible when it comes to negotiating terms and conditions on behalf of their clients.
What bank owns United Wholesale Mortgage?
As one of the largest wholesale mortgage lenders in the U.S., United Wholesale Mortgage (UWM) has a lot of sway in the industry. So it’s no surprise that people are curious about which bank owns United Wholesale Mortgage.
The answer is that UWM is actually owned by its parent company, United Shore Financial Services, LLC. United Shore is a privately held company, so it’s not traded on any stock exchange.
While there are some obvious benefits to being owned by a large bank (like more resources and stability), there are also some advantages to being a privately held company. For example, private companies can be more nimble and adapt to changes in the market quickly. They’re also not beholden to shareholders, so they can make decisions based on what’s best for the company rather than what will result in a short-term profit.
In other words, being privately held gives United Wholesale Mortgage the best of both worlds: the stability of a big bank and the flexibility of a smaller company. And that’s good news for brokers who work with UWM!
As a mortgage broker, you are paid a commission by the lender for originating the loan. Commissions are typically a percentage of the loan amount and are paid at closing.
At United Wholesale Mortgage, we offer some of the highest commissions in the industry. We pay our brokers an average of 2.5% of the loan amount on closed loans, with some brokers earning as much as 3%.
In addition to commissions, we also offer Bonuses and Incentives programs that can increase your earnings. Our Bonuses program rewards you for closing loans early, and our Incentives programs offer cash rewards for meeting certain production goals.
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