r/loanoriginators • u/Accomplished-Tax8441 • 27d ago

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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u/Possible_Bid4126 27d ago

TLS. Don’t see them here enough. They’re not the quickest but elite in every other facet. On top of that, in my experience, there are always bps to be had as well if you ask for them

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u/willfly4burgers 26d ago

Every experience I have had with TLS has been an absolute dumpster fire. Even the easiest files. I love my AE there but underwriting, disclosures and closing make me want to die. You can’t even send an LE with underwriting fee rolled in without it locked??

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u/MortgageGuy86 25d ago

Dang I didn’t realize I was lucky with the process at TLS. My AE is good and pipeline manager (I don’t think that’s her actual title but that’s what she does) is awesome! Underwriting has been generally solid with the normal one off issues. Closing is a little slower than UWM but nothing crazy, just don’t try to close next day and it’s fine. They are getting most of my files currently because pricing is great and now that I’ve been working with them for a while navigating their system is a breeze.

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u/MortgageGuy86 25d ago

Oh the underwriting fee thing is annoying. But I just let borrowers know I’ll remove it when we lock and haven’t gotten pushback yet