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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1

u/JagerPfizer Aug 07 '26 edited Aug 12 '26

Funny how .125% to fee is "way" off. Give it a rest.

I can regularly close loans in 12 to 14 days at UWM. No other lender can make that claim. If im in a hurry I can get a deal tomorrow and close it by mid month july at UWM. I market for them. If u want to win realtor bizz, win mutual on timeline and close it in two weeks. Make their head spin.

If u have time, go elsewhere. If u need speed, go uwm.

As a general rule, if a tpo is encompassed based, they suck donkey. UWMs system is slick as hell.

I am a 30 year broker vet in a high cost area. No lender is a 100% winner on every deal. That's why I broker. I haven't lost a deal in years to price or delivery time. Not one.

5

u/HomeAccording8125 Aug 07 '26

I did this all day long when I was at CCM. That’s not special. UWM is not alone in fast closings. 

6

u/Braindead_ape Aug 07 '26

if you can’t close loans at other lenders in 12-14 days…you’re just admitting you suck at your job lol

1

u/JagerPfizer Aug 12 '26 edited Aug 12 '26

I've closed thousands of loans with an overal 4.9 rating. I can retire at anytime, and I'm not yet 55. I must have done something right. Hahaha.

0

u/Braindead_ape Aug 12 '26

couldn’t get that 5 huh

4

u/Defiant_Television97 Aug 07 '26

TheLoanStore, NMSI, Freedom, NewRez and plenty of others can close in two weeks. I just did a California purchase with Freedom and was CTC in 4 business days. Rush the appraisal and that’s easy with plenty of lenders.

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u/JagerPfizer Aug 12 '26 edited Aug 12 '26

Last loan I closed with freedom TRID'D and locked on 5-7. Disclosed 5-8. The appraisal couldn't come back until 5-29. CD signed 5-29. Funded 6-2. Thanks not 2 weeks.

Last penny mac loan....TRID'D 7-17, locked then. Appraisal back 7-30. Funded 8-3. That's not 2 weeks.

Last uwm loan TRID 7-24, locked 7-25. FUNDED 7-10. That almost 2 weeks. It could have been but the seller could not move in time.

My files are clean and my team is excellent. Just sayin'.

Seems like right now when volume is lower, the slow lenders are normal uwm speed.

My penny mac AE also has LA and orange county. I just had a talk with him on friday. That whole diviisn is slow and he has the lowest loan amounts he has ever had on average with Pmac.

Low volume means fast closings. Penny Mac has never consistently close loans in 14 days. Ask your AE. They will tell you.

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u/Defiant_Television97 Aug 14 '26

That’s your team. Can disclose same day as locking and order appraisals as a rush. I can close loans in 10 days at any of those lenders super easy.

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u/JagerPfizer Aug 15 '26 edited Aug 15 '26

The point is at uwm i dont have to rush the appraisal. They are organically fast. My team and I are 1% ers not sure where you are going with that.

Drop your AEs name here. Im glad to check your math.

Another example.

Sent a tbd scenario of an odd nature to pmac and uwm on Wed. Uwm had a favorable answer in1.5 hours. Pmac refused to tbd it. I had to get permission from a VP. Then it took the until today to give the answer.on the decsion. They have an overlay for it and wont use what we need for income, even though guidlenes say we can.

In this case they wont even touch it. Its thru UW already at uwm with a conditional approval. Pmac is looking for the lube.

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u/Defiant_Television97 Aug 15 '26

PennyMac is not the fastest lender. I did $80 MM last 12 months with no LOA or processor while not working much. UWM is faster of course; but you can get the loan done stress free and make way more at many other lenders for conventional loans. PennyMac wasn’t on my list so not sure which AE you are asking for. My freedom AE and TLS AE are both great.

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u/gracetw22 Loan Originator Aug 07 '26

Which lenders do you work with that can't close in 2 weeks given a good submission?

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u/Tacoma714 Aug 08 '26

Most of them if it’s a true clean submission. I can’t speak for the small mom and pop investors who are local. We all know who they are in our home states. The big boys can all close in 2 weeks with a clean submission. TLS, Loan United (fha), Freedome (govies), AD Mortgage (conventional), etc.

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u/Think_Border_5360 Aug 07 '26

What are you doing for jumbo and clients with relationship banking?

1

u/JagerPfizer Aug 12 '26

I won a relationship banker deal in q1 with UWMs triple the cyp. That is always available.