Nation's largest originator is looking to add hundreds of workers
Recession or not, United Wholesale Mortgage is expanding. The nation’s largest home lender by volume is on the hunt for 500 new employees as interest rates level out again.
Last weekend at its Pontiac, Mich. headquarters, the mortgage lending giant hosted walk-in job interviews for both entry-level and higher-level positions (including in underwriting, sales, and IT), the Detroit Free Press reported. The entry-level roles don’t require a bachelor’s degree and mortgage experience, and training is paid.
UWM hopes to create about 500 on-campus, full-time jobs over the next quarter as the company experiences an increase in volume thanks to lower rates and the spring homebuying season.
“The uptick in volume provides opportunity,” UWM chief people officer Laura Lawson told the Detroit Free Press in an interview.
In the third quarter of 2022, UWM surpassed Rocket as the largest residential originator in the United States as it gained more purchase market share and its wholesale channel continued to grow. However, Rocket reported a bigger volume for the entirety of 2022.
A UWM spokesperson said the hiring would increase the company’s long-term headcount rather than just replace the workers who typically leave in a year for various reasons. UWM’s headcount totaled about 6,000 employees at the end of 2022, down from 8,000 in 2021. Rocket Mortgage’s parent, Rocket Companies, has approximately 18,500 workers, down from 26,000 the previous year.
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