Mat ishbia and Dan Gilbert
Dan Gilbert's Detroit-based Rocket Companies lost $212 million in the first quarter of the year. Mat Ishbia's Pontiac-based United Wholesale Mortgage lost $247 million during the same period, according to the Detroit Free Press.
Still, both companies see the housing market warming up in the coming weeks and months, despite economic anxieties related to tariffs, reports JC Reindl of the Free Press, who notes:
UWM was the nation's top mortgage lender by loan origination volume last year, according to industry observer Inside Mortgage Finance. Rocket Mortgage ranked No. 3, behind PennyMac Financial. (Rocket Companies is the corporate parent of several Dan Gilbert businesses, the largest being Rocket Mortgage.)
