UWM Holdings Corp Class (UWMC) stock prices inched up by 1.65% as of the market closing on June 8th, 2021, bringing the price per share up to USD$9.25 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock rise by 4.97%, bringing it up to USD$9.71.
The indirect parent of United Wholesale Mortgage recently announced the launching of a contest to bring independent mortgage brokers together to ring the bell with the president and CEO of UWMC at the New York Stock Exchange. This contest is being held in celebration of National Mortgage Brokers Day. Inclusion in the competition has a pre-requisite of the sharing of stories from independent brokers about how they have helped borrowers, with the winner being announced early in July of 2021.
Supporting Independent Mortgage Brokers
The company maintains that independent mortgage brokers are the fastest, easiest, and least costly option as compared to alternatives. UWMC hopes to attract excellent mortgage brokers into the limelight through their shared stories in a bid to educate customers on the attraction of conducting their business through a mortgage broker, which the company reiterates as being the best place to get a mortgage.
Mortgage Broker Scaffolding
Consequently, UWMC has launched several initiatives that serve to support independent mortgage brokers without incurring any expenses. Findamortgagebroker.com is a website that was launched in 2016 with the purpose of educating customers and real estate agents about the advantages of using a mortgage broker vs a bank or retail lenders in the process of purchasing and refinancing a home. The website contains a nationwide database of brokers that can be sifted through based on city or zip code. This facilitates the matching of borrowers and real estate agents with local independent mortgage brokers.
Strategies to Help Mortgage Brokers
The pasts two years have also seen the company run a commercial in a bid to spearhead its market penetration and raise brand awareness. Blink+ provides loan officers with a point of sale, loan origination system, and customer online application relationship manager in a single holistic system. UWM InTouch is a mobile app that provides mobile accessibility to brokers for the management of almost every facet of their pipeline.
Future Outlook for UWMC
The recent development is sure to result in increased exposure for both independent brokers and UWMC, with the potential for future collaborative projects. The company is keen to continue its trajectory of success and extrapolate their growth well into the next several quarters. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.