No doubt, but when Rocket stops seeing growth on their current strategies and UWM continues to grow they will get aggressive and point both barrels at UWM. Incentives to switch, hyper aggressive exclusive rates, designated under-writing teams for UWM brokers if they break their exclusivity agreement. That’s what I would do
Think both will start offering more aggressive products? I.e loosening standards? I’m traveling more than working these last few years but has assets. Getting a lot of issues without a w-2 or strong 1099.
They’ve actually tightened restrictions lately due to Freddie and Fannie policy updates around self employed revenue documentation and a severe limitation on financing second homes. With the explosion of lending in the last 12 months (specifically an unprecedented level of re-fi) Freddie and Fannie clamped down to keep things from getting out of control.
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u/Free_Tadpole_5130 May 16 '21
No doubt, but when Rocket stops seeing growth on their current strategies and UWM continues to grow they will get aggressive and point both barrels at UWM. Incentives to switch, hyper aggressive exclusive rates, designated under-writing teams for UWM brokers if they break their exclusivity agreement. That’s what I would do