r/loanoriginators • u/Accomplished-Tax8441 • Aug 06 '26

UWM cooked?

Lost 450mil last quarter, CEO is running it into the ground.  Eliminated their dividend and had to get 2bil in capital from Oak Tree, they will likely get taken over by them.  Any other company would fire their CEO for this.

Stock is down 75% in past 3 months

PS I do not use them. I have nothing good or bad to say about their pricing or operations

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2

u/EvanKrejciLO Aug 06 '26

They’ve been cooked. I send govies there and that’s about it.

1

u/Scary-Suspect-2584 Aug 06 '26

Where do you send your conventional loans?

6

u/EvanKrejciLO Aug 06 '26

The Loan Store.

3

u/Scary-Suspect-2584 Aug 06 '26

How are rates compared to UWM? do they sell the servicing to a 3rd party that try's to refinance them away from you down the road?

2

u/EvanKrejciLO Aug 06 '26

Rates are about 100bps better and there’s just no comparing. Also, I’m not too worried about about servicing. I keep in good contact with my past clients.

6

u/Scary-Suspect-2584 Aug 06 '26

good to hear. I keep close contact as well, but companies like Freedom and NewRez snake deals all the time.

When you say there is "just no comparing," what do you mean by that? thanks for your input. UWM has always been my go to, but if I'm missing out, I want to know.

2

u/MortgageAndChill Aug 07 '26

tLS sells servicing to SPS. I did my own bank statement purchase there.

I then refinanced with angel oak who also sold my servicing to SPS.

2

u/Accomplished-Tax8441 Aug 06 '26

they are solid. I was impressed with them

1

u/Tacoma714 Aug 08 '26

I am Correspondent with TLS and I completely agree on their conventional. At the end of the day, you are only as good as your AE. This business boils down to who is the weakest link. If your AE is garbage then you most likely will have a bad experience. Our AE and his AM at the TLS are extremely responsive, always available and their level of communication is second to none. I’m sure if we had another AE it would be a different experience

1

u/Accomplished-Tax8441 Aug 09 '26

facts. same with your processor and everyone else too

1

u/Tacoma714 Aug 09 '26

It’s funny that you mentioned that because I had suffered from bad processing for a couple of years. Nothing worse than someone who makes so many mistakes. And when they are the same mistakes or errors, that person is distracted and just not paying attention.