UWM executive on continued growth of wholesale brokers: ‘If brokers win, we win’

“I spent the first 25 years of my career in retail,” he mentioned. “I believed retail was every part and that nobody ought to ever be in wholesale. And then you definitely get the chance to see the opposite facet. Obviously, for me, I get the chance to work for the opposite facet. Because once you’re in retail, you’ve just one choice, and also you solely have one technique to do issues. You do not get to see that you simply need not take two weeks in underwriting. It does not take 10 days to get an appraisal again.

“No one ever shared with them, because they were always retail, and they never knew that they had multiple options in terms of products and pricing and all those things. As a broker, you’re the deciding factor on what’s best for your consumer, not the company you work for.”

When brokers make that transition and work with UWM, Smith mentioned they stress to brokers that the corporate is there to support themnevertheless it’s as much as the person dealer as to how they are going to do enterprise.

“That’s why we always ask people to come out here and see us,” he mentioned. “I like to think of UWM as your back office, your back room. A mortgage broker does whatever they choose to do in their community, or how they go about acquiring clients. We will give suggestions. We will help them if they like. But our superpower is the back office.”

Figure out your targets

Smith mentioned despite the fact that he and the corporate will not dictate to brokers what to do, they’re all the time pleased to supply enterprise recommendation for brokers to assist develop their enterprise. The first step for brokers is to determine what they need from their enterprise.