Exploring the Integration of Sphere and UWM in Mortgage Technology
In a recent discussion, leadership at United Wholesale Mortgage (UWM) addressed their strategic decision to collaborate with Sphere, a software solution designed for the mortgage lending process. This collaboration aims to enhance the overall efficiency of loan origination while maintaining UWM’s independence in its operations.
Sphere’s Role in Loan Origination
While some might interpret UWM’s collaboration with Sphere as a traditional partnership, UWM’s Director of Operations, Bressler, clarified that it is more accurately described as an announcement rather than a formal partnership. Sphere operates as an independent system that merges several essential components of the lending process: a loan origination system (LOS), a customer relationship management (CRM) platform, a point of sale (POS) interface, and a product and pricing engine (PPE). This combination is designed to streamline workflows and improve operational efficiency.
Why Choose Sphere?
Bressler detailed the reasons for selecting Sphere for this important integration, emphasizing the combined decades of experience from the various companies that comprise Sphere. He noted that in typical retail and especially within wholesale operations, no single system has yet achieved a fully integrated, end-to-end solution. The integration with Sphere is viewed as a natural fit to overcome these challenges.
The Decision Against Developing an In-House LOS
One question posed was why UWM, which has built a strong technology team, opted not to develop its own broker LOS. Bressler explained that creating an LOS specifically for the wholesale market could stifle competition. Instead, utilizing an established workflow from Sphere allows UWM to participate in a broader ecosystem without attempting to monopolize the market with proprietary products.
Cultivating a Strong Technology Team
Bressler shared insights into UWM’s technology culture, emphasizing the importance of team dynamics and collaboration. With weekly IT meetings and quarterly in-person gatherings, UWM fosters an environment where all members, including many who have transitioned into tech roles from other fields, can grow and specialize. Bressler noted, “Every great strategist starts off with a pillar or two that they really commit to,” indicating a focused approach to achieving team goals.
Emphasizing Broker Feedback
To conclude the conversation, Bressler highlighted UWM’s commitment to maintaining an open feedback loop with the brokers who utilize their products. He emphasized that every partner has direct access to company leadership, ensuring that broker input is consistently solicited and valued, contributing to ongoing improvements in services.
Conclusion
The collaboration between UWM and Sphere signifies a continued effort to innovate within the mortgage industry. By leveraging advanced technology while maintaining a competitive and cooperative landscape, UWM is poised to enhance its offerings and support for brokers in the ever-evolving mortgage market.
