United Wholesale Mortgage (UWM) in Pontiac has signed a long-term agreement to license Atlanta-based ICE Mortgage Technology’s MSP in-house loan servicing system.
Operating exclusively through the wholesale channel, UWM’s shift to in-house servicing will enable it to curate a homeowner experience that yields increased recapture and referral business for its mortgage broker network.
UWM says it selected MSP for the system’s “powerful” features, scalability, and capacity to support “outstanding” customer service that fosters borrower retention, and the fact that ICE is an independent, neutral, and proven technology provider.
“We are excited to partner with ICE Mortgage Technology to bring our servicing portfolio in-house,” says Mat Ishbia, chairman, president, and CEO of UWM. “This is a huge win for UWM and, more importantly, the broker community.
“This will mean a better experience for borrowers and a stronger, stickier relationship with their brokers, which we believe could result in more repeat business and referrals — the foundation for long-term growth and success. While we are excited about the cost savings for UWM, we’re even more excited about the opportunity to help brokers deepen their relationships with borrowers by leveraging MSP.”
As part of the implementation of MSP, UWM will deploy ICE Servicing Digital, an intuitive homeowner portal with retention and recapture features that keep borrowers engaged through the life of a loan, and ICE Loss Mitigation, which integrates with Servicing Digital to help homeowners facing hardship connect with assistance.
Additionally, UWM will use ICE Customer Service to deliver homeowner support, ICE Automated Lien Release to streamline lien releases, and ICE’s Servicing APIs to integrate its broader tech stack for improved operational efficiency.
“ICE Mortgage Technology is exclusively dedicated to serving businesses that power the housing finance economy,” says Tim Bowler, president of ICE Mortgage Technology. “Our solutions simplify every stage of the loan lifecycle to promote a smoother, more efficient and more cost-effective mortgage experience for everyone involved.
“As a neutral provider of third-party software, lenders and servicers can rest assured that we will always be in their corner, helping them support the American dream of homeownership and working to make them successful every day.”
Ben Jackson, president of ICE, says, “We are honored that UWM has entrusted us to supply the technology underpinning its new servicing strategy. By leveraging our platform and many of our complementary solutions, UWM will gain access to a powerful, scalable system for delivering a consistent, world-class servicing experience that drives repeat and referral business and supports homeownership in communities nationwide.”
In Related News: Ishbia, at a company rally last week, revealed the company’s new goals for the next three years:
- Promote 4,500 team members, which represent half of UWM’s current workforce.
- Double the company’s business by doing $280 billion in production.
- Increase broker market share to 33 percent (currently at 27.8 percent).
- Achieve a perfect service score of 90 percent of all loans from brokers and borrowers.
In 2021, UWM set goals including becoming the No. 1 overall mortgage lender in America and saving Americans $23 billion over three years by going through a broker, all of which were achieved. To celebrate this accomplishment, all UWM team members were awarded their choice of a Trek Bike, Sony PlayStation 5, Beats Studio Pro, Google Pixel 3, Apple Watch Series 10, or Meta Quest 3 earlier this year.
In addition, Ishbia announced UWM has expansion plans in development that will evolve over the next 18 months that include an additional auditorium, food court, and meeting spaces.
 in Pontiac has signed a long-term agreement to license Atlanta-based ICE Mortgage Technology's MSP in-house loan servicing system.){kind=link}