Rocket, UWM, Home Point adapt to slowdown in mortgage industry growth

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For UWM, all of these staff are concentrated in two buildings on the Pontiac campus, with an internal bridge connecting the two. Rocket employees are scattered across several office buildings in downtown Detroit and also have offices in several other cities.

But as the mortgage industry as a whole emerges from its peak, numerous indicators point to a slowdown in mass hiring.

Ishbia admitted this.

“We’re going to continue to grow our business to be successful,” said Crain’s CEO of UWM. “We are not going to triple and increase from 9,000 to 27,000 people.”

Ishbia said he believes a headcount between 8,000 and 11,000 will be the right number to move the company forward.

A Rocket spokesman declined to give specific numbers to forecast hiring for next year or beyond.

“To remain the leader in innovative fintech, we always hire the best and brightest talent – especially for key technology, product strategy, data, marketing and customer service positions in our Rocket Cloud Force,” the spokesperson wrote in a statement. by email. at Crain’s.

Home Point, on the other hand, fired about 10 percent staff earlier this summer after it accelerated recruitment last year to meet refinancing demand.

The company, which has about 3,500 employees, of which about 500 are based in Michigan, now has about 150 vacancies, said Christine Supansic, the company’s chief human resources officer. The company expects that number to remain unchanged over the next 12-18 months, but with “strategic growth,” according to Supanich.

“We are exactly where we wanted to be after six years of our company, even with our unplanned recruitment in 2020 due to the refinancing boom,” Supansic said in a statement emailed to Crain’s. “We will continue to attract talented people, whether here in the Detroit subway or across the country, but we plan to hire employees in a practical sense to make us the most effective wholesale lending partner for mortgage brokers, not just for fun. It.”

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