Mat Ishbia, President/CEO of United Wholesale Mortgage, joined us for this week’s episode. He shared his thoughts on mortgage space right now, his future predictions, and more. Watch now!
“I think it helps brokers and consumers. I think, you know, the pay to play games that people play, you know, I know not everyone’s a huge fan of what Richard Cordray and the CFPB did, but the reality is that things like MSA’s, I get it, you know, back back six, seven years ago, MSA’s which are marketing service agreements where mortgage companies could pay real estate companies, “Hey, I’ll pay you this amount of money.” And then you get leads like that’s, that’s a gray area, it was basically ruled out and now they’re letting allowing it to happen a little bit again, with a new president and with a little bit stricter regulation, what happens is, doesn’t happen anymore. It doesn’t happen at that same level or maybe it tightens down and people were more concerned. So then what happens? consumers get a better deal. What does a consumer getting a better deal mean? They’d probably end up at a broker shop. And so my perspective is more regulation helps consumers and if it helps consumers it helps brokers.” – Mat Ishbia, United Wholesale Mortgage