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UWM does service its loans, so although your broker will guide you through the loan process, you'll make payments to UWM after your loan has closed.
To offset the higher risk lenders take making non-QM loans, you'll likely pay higher rates, APRs and even upfront fees and points that aren't permitted on qualified mortgages.
The average UWM salary ranges from approximately $28,000 per year for Marketer to $117,000 per year for Support Staff. Average UWM hourly pay ranges from approximately $11.00 per hour for Administrative Assistant to $24.04 per hour for Apprentice.
On December 7, 2020, the Consumer Financial Protection Bureau (Bureau) filed a complaint and proposed stipulated judgment and order against Nationstar Mortgage, LLC, which does business as Mr. Cooper (Nationstar).
Mr. Cooper is a registered service mark of Nationstar Mortgage LLC and its subsidiaries. All pages and screens on the MyUWMLoan website are owned and controlled by Mr. Cooper, except as otherwise expressly stated, and are protected by U.S. copyright laws.
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Reflects change since 5 pm ET of prior trading day. Mat Ishbia is chairman and CEO of Michigan-based mortgage lender United Wholesale Mortgage, now UWM Holdings, founded by his father Jeff in 1986. He owns a 71% stake in the company, which went public through a merger with a blank check company in 2021.
UWM, the largest wholesale lender in the country, has been challenged by rising mortgage rates, decreasing refinancing volumes and fierce competition in the wholesale channel during the past couple of years, mainly from Rocket Mortgage.
United Wholesale Mortgage went public in January of 2021 through a merger with Gores Holdings IV, and the formation of a special-purpose acquisition company (SPAC). At the time of its formation, the SPAC was the largest to ever debut at a valuation near $16 billion.
A Non-QM loan, or a non-qualified mortgage, is a type of mortgage loan that allows you to qualify based on alternative methods, instead of the traditional income verification required for most loans. Common examples include bank statements or using your assets as income.
UWM said bank statement loans will be available only for self-employed borrowers seeking up to $3 million and with up to 90% loan-to-value ratio (LTV) with no mortgage insurance required. Using bank statements to qualify borrowers defines the loan as a non-qualified (non-QM) mortgage.

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