{"id":4175,"date":"2021-01-22T15:13:20","date_gmt":"2021-01-22T20:13:20","guid":{"rendered":"https:\/\/riverbankfinance.com\/blog\/?p=4175"},"modified":"2021-01-27T10:18:54","modified_gmt":"2021-01-27T15:18:54","slug":"mortgage-broker-lending-partner-uwm-goes-public","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/mortgage-broker-lending-partner-uwm-goes-public\/","title":{"rendered":"Mortgage Broker Lending Partner UWM Goes Public"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"United Wholesale Mortgage (NYSE: UWMC) Rings The Opening Bell&amp;reg;\" src=\"https:\/\/player.vimeo.com\/video\/503453321?dnt=1&amp;app_id=122963\" width=\"1200\" height=\"675\" frameborder=\"0\" allow=\"autoplay; fullscreen; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Today is an exciting day for independent mortgage brokers! Our #1 lending partner <a href=\"https:\/\/www.uwm.com\/\">United Wholesale Mortgage<\/a> (UWM) completed their IPO to go public on the New York Stock Exchange under ticker <a href=\"https:\/\/www.nyse.com\/quote\/XNYS:UWMC\" title=\"https:\/\/www.nyse.com\/quote\/XNYS:UWMC\">UWMC<\/a>. <\/p>\n\n\n\n<p>UWM has been the #1 wholesale lender in the nation for 7 years running. They are the #2 overall lender but have major plans to take the top spot in the upcoming years with goals of closing over 200 billion dollars in loans in 2021. By becoming a publicly traded company, UWM will have access to capital to invest in technology, staffing and their mortgage broker partners.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Mortgage Brokers Win Big<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/DetroitNews.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"825\" src=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/DetroitNews-1024x825.png\" alt=\"\" class=\"wp-image-4177\" srcset=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/DetroitNews-1024x825.png 1024w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/DetroitNews-300x242.png 300w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/DetroitNews-768x618.png 768w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/DetroitNews.png 1494w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cThey have the best system as far as delivering and getting it done,\u201d said Anthony Bird, mortgage broker and owner of Riverbank Finance LLC in Grand Rapids who has worked with UWM for a decade. \u201cI can close twice as many loans with the same amount of staff and resources. When we get calls from other lenders, they say they are working on some new website or tech features that UWM has.\u201d<\/p><cite>Anthony Bird, Owner of Riverbank Finance LLC, was quoted in the <a href=\"https:\/\/www.detroitnews.com\/story\/business\/2021\/01\/20\/mat-ishbia-hopes-technology-booming-market-spur-growth-united-wholesale-market-goes-public\/4228066001\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Detroit Free Press<\/a> on 01\/22\/2021 regarding the UWM IPO announcement.<\/cite><\/blockquote>\n\n\n\n<p>Riverbank Finance LLC is proud to be partnered with UWM to offer some of the fastest loan closings in the industry with highly competitive interest rates. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Technology Equals Lower Costs and Lower Rates<\/h2>\n\n\n\n<p>With UWM&#8217;s investment in cutting edge technology, mortgage brokers can compete with the big banks and lenders with a digital mortgage experience. <a href=\"https:\/\/riverbankfinance.com\/michigan-mortgage-broker.html\">Mortgage brokers<\/a> are gaining market share with lower costs to produce a loan using new technology and automations. By having the best technology and operating with less expenses, mortgage brokers can offer lower rates and costs compared to many big lenders. <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Digital Mortgage Experience<\/li><li>eSign Loan Application<\/li><li>Secure Document Portal<\/li><li>Automated Income Verifications<\/li><li>Automated Asset Verification<\/li><li>Appraisal Waivers Possible<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Speed in Lending Wins<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/ttc.png\"><img loading=\"lazy\" decoding=\"async\" width=\"762\" height=\"383\" src=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/ttc.png\" alt=\"\" class=\"wp-image-4179\" srcset=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/ttc.png 762w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/ttc-300x151.png 300w\" sizes=\"auto, (max-width: 762px) 100vw, 762px\" \/><\/a><\/figure>\n\n\n\n<p>As of December 2020, the average time to close a mortgage was 58 days according to the <a href=\"https:\/\/static.elliemae.com\/pdf\/origination-insight-reports\/EM_OIR_DECEMBER2020.pdf\" title=\"https:\/\/static.elliemae.com\/pdf\/origination-insight-reports\/EM_OIR_DECEMBER2020.pdf\">Ellie Mae Lending Insights Report<\/a>. UWM advertises 13.3 days on average for the same period which is less than a quarter of the time of its competitors. Mortgage brokers that utilize UWM systems can close mortgages in record time winning important Realtor partnerships.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Not Just Refinance Loans<\/h2>\n\n\n\n<p>Many of the big online lenders such as Quicken Loans focus primarily on refinance loans. This helps them to close a high volume of loans while mortgage rates are low, however, many home buyers would much rather work with a local independent mortgage broker.<\/p>\n\n\n\n<p>A large portion of UWM&#8217;s loans are purchase loans submitted by mortgage brokers like <a href=\"https:\/\/riverbankfinance.com\" title=\"https:\/\/riverbankfinance.com\">Riverbank Finance of Grand Rapids, MI<\/a>.  Home buyers typically feel more comfortable having a <strong>local mortgage expert<\/strong> they can trust to help answer questions and get them the best mortgage for their situation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Partnered with UWM<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/1percent.png\"><img loading=\"lazy\" decoding=\"async\" width=\"626\" height=\"625\" src=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/1percent.png\" alt=\"\" class=\"wp-image-4178\" srcset=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/1percent.png 626w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/1percent-300x300.png 300w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/1percent-150x150.png 150w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2021\/01\/1percent-125x125.png 125w\" sizes=\"auto, (max-width: 626px) 100vw, 626px\" \/><\/a><\/figure>\n\n\n\n<p>Riverbank Finance embraces their partnership with UWM to offer low rates, low costs and quick closings for <a href=\"https:\/\/riverbankfinance.com\/\" title=\"https:\/\/riverbankfinance.com\/\">Michigan home loans<\/a>. As a mortgage broker, we can compare mortgage rates from UWM and tens of mortgage lenders to offer some of the most competitive mortgage programs available.<\/p>\n\n\n\n<p>To apply with Riverbank Finance call us today at 800-555-2098 or request information below.<\/p>\n\n\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f185-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"185\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/4175#wpcf7-f185-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"185\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.5\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_US\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f185-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7_recaptcha_response\" value=\"\" \/>\n<\/fieldset>\n<div class=\"ApplyFullHeader\" id=\"apply_form\">\n\t<p class=\"replaceheader\">Request Information Now!\n\t<\/p>\n<\/div>\n<div class=\"blueBox\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Your Name (required)\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Your Email (required)\" value=\"\" type=\"email\" name=\"your-email\" \/><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-phone\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Phone:\" value=\"\" type=\"text\" name=\"your-phone\" \/><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-goal\"><select class=\"wpcf7-form-control wpcf7-select\" aria-invalid=\"false\" name=\"your-goal\"><option value=\"Purchase\">Purchase<\/option><option value=\"Refinance\">Refinance<\/option><option value=\"Cash Out\">Cash Out<\/option><option value=\"More Information\">More Information<\/option><\/select><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-message\"><textarea cols=\"40\" rows=\"10\" maxlength=\"2000\" class=\"wpcf7-form-control wpcf7-textarea\" aria-invalid=\"false\" placeholder=\"Your Message:\" name=\"your-message\"><\/textarea><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"referer-page\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text referer-page\" aria-invalid=\"false\" value=\"\" type=\"text\" name=\"referer-page\" \/><\/span><br \/>\n\t\n\t<\/p>\n\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner submit\" type=\"submit\" value=\"Submit Now!\" \/>\n\t<\/p>\n<\/div>\n<div style=\"text-align: justify; color:#666666;font-size: small;\">\n\t<p>By clicking \"Submit Now!\", you consent to receive calls and texts at the number you provided, including marketing by autodialer and prerecorded and artificial voice, and email, from Riverbank Finance LLC about your inquiry and other home-related matters, but not as a condition of any purchase; this applies regardless of whether you check, or leave un-checked, any box above. You also agree to our Privacy Policy and Terms of Use regarding the information relating to you. Msg\/data rates may apply. This consent applies even if you are on a corporate, state or national Do Not Call list. This no obligation inquiry does not constitute a mortgage application. To apply now or get immediate assistance, call us at 1-800-555-2098.\n\t<\/p>\n<\/div><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"169\"\/><script>document.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );<\/script><\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Today is an exciting day for independent mortgage brokers! Our #1 lending partner United Wholesale Mortgage (UWM) completed their IPO to go public on the New York Stock Exchange under ticker UWMC. UWM has been the #1 wholesale lender in the nation for 7 years running. They are the #2 overall lender but have major<a class=\"excerpt-read-more\" href=\"https:\/\/riverbankfinance.com\/blog\/mortgage-broker-lending-partner-uwm-goes-public\/\" title=\"ReadMortgage Broker Lending Partner UWM Goes Public\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":4176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,308],"tags":[289],"class_list":["post-4175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-michigan","category-mortgage-tips","tag-mortgage-broker"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/4175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/comments?post=4175"}],"version-history":[{"count":5,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/4175\/revisions"}],"predecessor-version":[{"id":4190,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/4175\/revisions\/4190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/media\/4176"}],"wp:attachment":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/media?parent=4175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/categories?post=4175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/tags?post=4175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}