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Mat Ishbia, the CEO of the mortgage company United Wholesale Mortgage (UWM), recently shocked the sports world when it was announced that he put up more than half of his company’s outstanding shares as a secure loan guarantee ahead of UWM’s acquisition of the Phoenix Suns.
The bold move is indicative of Ishbia’s tremendous faith in UWM, and his willingness to make sacrifices to expand the business. The Phoenix Suns acquisition is a major step forward for UWM, and the lucrative partnership and exposure to a much wider consumer base will certainly help to grow the mortgage company.
The most important elements of this text include:
• Mat Ishbia providing more than half of his mortgage company’s outstanding shares to secure a loan ahead of the acquisition of the Phoenix Suns.
• The bold move is indicative of Ishbia’s tremendous faith in UWM and willingness to make sacrifices to grow the business.
• UWM’s lucrative partnership with the Phoenix Suns and the exposure to a greater consumer base will help the mortgage company grow.
You can read this full article at: https://www.housingwire.com/articles/ishbia-pledged-uwm-shares-worth-4-6b-to-secure-two-loans-prior-to-nba-deal/(subscription required)
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