HousingWireHousingWire
Mat Ishbia, the president and CEO of United Wholesale Mortgage (UWM), is a big fan of President Donald Trump and his agenda.
On UWM’s Wednesday morning earnings call, the wholesale mortgage leader said that Trump has done exactly what he set out to do, adding that the president’s picks to lead and regulate the mortgage industry represent a hugely “positive change.”
“Brokers are growing because they’re cheaper, faster and easier, and with the new administration, it’s only going to help brokers even more,” Ishbia said. “You watch out. It’s going to help brokers grow, and we’re going to keep growing with them.”
Ishbia told analysts that the Trump administration has “really good people” in place to lead the housing sector.
“President Trump’s come in and done a lot of things he said he was going to do. I think he’s put some really good people in place,” Ishbia said. “I think they’re not confirmed yet, but the new FHFA director comes from the industry, which is a huge success for our industry.
“The new CFPB director [will have] a different focus than what they had before. I think these things are massive, massive wins for our industry. And I’m extremely bullish on those things the next three or four years.”
Ishbia also took a swipe at the Biden-era regulators and housing policy leaders.
“I don’t mean disrespect to the past people, but quite honestly, there was not a great connection to the industry,” he said. “It’s only better — the new FHFA director will be better, the new HUD director [Scott Turner] will be better, the new CFPB director, [Jonathan] McKernan, will be better.
“I think President Trump’s doing good things. And it’s great to have a leader lead and hopefully do good things for not only our industry but America in general.”
It’s too early to say whether Trump’s agenda translates into positive downward movements for mortgage rates, Ishbia said, but if it does, “then this is a bull run like you probably haven’t seen since 2021.”
And even if interest rates remain largely where they are, mortgage origination expenses “will still be lower” and there will be better leadership, which should lead to more business opportunities, he said.
UWM, the nation’s most prolific mortgage originator, manufactured $139 billion in mortgages in 2024. The company said that more than 16,000 loan originators joined the broker channel in 2024, with more than half coming over from retail.
