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UMortgage Shares Growth, Investments, and Future Plans in Q4 Investor Meeting

April 3, 2023

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UMortgage Shares Growth, Investments, and Future Plans in Q4 Investor Meeting

In 2022, the UMortgage platform saw tremendous growth across the board with an exponential increase in the number of team members, loan originators, national footprint, and, most importantly, homeowners served. This year of accelerated development for the mortgage platform was capped by the year’s most successful quarter in Q4.

To provide all individuals within the organization full transparency into the investments that allowed for this growth, the physical growth metrics, and the targeted areas for continued growth, President & CEO, Anthony Casa, hosted UMortgage’s Q4 Investor Call alongside CFO, Gil Arbitsman.

“We believe this level of transparency creates accountability throughout our organization and helps our team members connect the work we are doing daily with the overall performance of our business,” said Casa. “We are incredibly excited about the exponential growth we have experienced over the last year and what we expect in the future.”

An overarching theme of the investor call was UMortgage’s ability to grow during a historically poor quarter for the mortgage industry. UMortgage made several financial investments to restructure the platform and spur its growth, all of which paid dividends through Q4 and into Q1 of 2023. The UMortgage platform was built to solve the pain points that all loan originators experience, whether their background is at a retail mortgage company or a brokerage. These investments allowed UMortgage to emphasize the ways that they resolve these issues.

Growth Signaled by High-Profile Recruitment

A signal that UMortgage was best suited to address LO's most common pain points was sent to the rest of the mortgage industry when the platform announced in December of 2022 that it had hired mortgage broker advocate and icon, Todd Bitter, to be its Chief Sales Officer. Bitter boasts more than 25 years of experience within the mortgage industry and has spent the last five years prioritizing the education of fellow brokers to replicate the success he’s seen as one of the industry’s top producers.

UMortgage’s ability to solve industry pain points also played a key role in its recruiting strategies as it acquired the #1 brokerages in both Ohio and Texas. The acquisitions of Dallas-based NXT Mortgage—the nation’s fastest-growing brokerage—and Breon Price’s Cincinnati-based branch of Motto Mortgage served as the catalysts to positively impact homebuyers in the Texas and Ohio markets and increase its recruiting footprint in those regions; 168 new loan originators from Ohio, Texas, and beyond were welcomed to UMortgage, more than doubling its roster from Q3.

An increase in loan originators also led to an increase in homeowners served by the platform. UMortgage LOs managed a 70% year-over-year increase and an 11% quarter-over-quarter increase in homeowners served in Q4. They also more than doubled the number of rate locks in Q4 of 2022 with a 96% year-over-year increase.

Investing in Employees at UMortgage

Internally, one of the marquee initiatives of Q4 was to change UMortgage’s holding company from Premier Processing LLC to UMortgage LLC. This initiative allowed UMortgage to launch UShares—an employee stock option program that allows all team members to buy equity into the company as it continues to grow. UShares was officially launched midway through Q1 of 2023 thanks to those investments made in Q4.

UMortgage also acted proactively by bolstering its Operations teams and proactively training new team members to support the influx of new LOs and the increased volume which would follow. This allowed those new LOs to hit the ground running upon joining the platform while avoiding any bottleneck as loans are processed and closed.

Laying the Foundation for Growth in 2023

The investments made in Q3 and Q4 of 2022 helped set the stage for a historic Q1, and likely another groundbreaking year of growth for UMortgage. The platform has already started 2023 with plenty of momentum as it doubled its lock volume from Q4 of 2022 in the first quarter of the new year.

During the call, Casa highlighted a goal to fund +2,000 loans monthly in Q4 of 2023. Aside from the continued growth of UMortgage’s roster of LOs, UMortgage will also invest in the development of its current LOs through a LO coaching program which will provide the tools and knowledge needed to increase an individual's average monthly funded loans by 50%.

This growth isn’t stopping any time soon. The UMortgage platform plans to continue to create life-changing opportunities through homeownership with the brightest LOs in the country. Every Wednesday at 2pm ET, Casa shares how Loan Originators Powered by UMortgage are set up for success with a community of industry experts and fellow LOs to lean on, a growing selection of lenders and loan products, and best-in-class support staff that helps LOs focus on what they do best—originate loans.


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