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United Wholesale Mortgage was founded by Jeff Ishbia in 1986 while working as an attorney. He founded the company as a side business under the name Shore Mortgage. [4] It started off focusing on conventional and FHA loans and the name was later changed from Shore Mortgage to United Wholesale Mortgage. [5] By 2003, the company had 13 employees.
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The mortgage broker originates the loan; however, the funding of the loan as well as the decision on the creditworthiness of the loan is handled by the wholesale lender. [2] The name of the wholesale lender is typically appears on the loan documents, while the broker acts as an agent for the lender and collects a fee. [3]
Position. Point guard. Number. 11. Career highlights and awards. NCAA champion (2000) Mathew Randall Ishbia (born January 6, 1980) [1][2] is an American billionaire businessman who is CEO and chairman of mortgage lender United Wholesale Mortgage. He is the majority owner of the Phoenix Suns of the NBA and Phoenix Mercury of the WNBA alongside ...
Pontiac-based United Wholesale Mortgage, now the nation's top mortgage lender, this week found itself in the crosshairs of a new activist hedge fund — on a mission to tank the company's stock ...
May 9, 2024 at 11:16 AM. Pontiac-based United Wholesale Mortgage returned to profit in the first quarter following its first full-year loss in 2023 since going public. The nation's No. 1 mortgage ...
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Rocket Mortgage, LLC, formerly Quicken Loans, LLC, is an American mortgage lender, headquartered in Detroit, Michigan. In January 2018, Rocket Mortgage became the largest overall retail lender in the U.S., and it was also the largest online retail mortgage lender. [7] Rocket Mortgage relies on wholesale funding to make its loans and uses online ...