Independent brokers, specifically, can give borrowers a crucial advantage when it comes to finding the most suitable product and rate in today’s unpredictable market, according to Elezaj.
“They’re working with UWM and many other lenders. That gives consumers the best options for speed, pricing, and all those different things like that,” he said. “They want to be teed up with options.
“And that’s what a broker does as opposed to going with a single retail unit [where] obviously you’re only getting whatever their captive products and services are. So I think the broker with more products, more options, is the best choice for consumers and they really need that in times like these.”
Company ‘very confident’ looking to the future
A degree of uncertainty has emerged in recent weeks about whether the Federal Reserve will introduce long-awaited interest rate cuts this year, with some suggesting that persistent inflation and a surprisingly strong labor market could see the central bank hold off on lowering rates in 2024.
UWM remains confident that rates will begin to tick lower at some point – and Elezaj restated the view of chief executive officer Mat Ishbia, who said on last week’s post-earnings call that the company was already prepared to capitalize on lower rates when they come.
