Mat Ishbia: Yes. Thanks for the question. So Doug, I think I talked about it even when we rolled out Game On, that the expectation of what I consider success on it. And my expectation is Game On was not a market share play, it obviously helped market share. It was — let’s grow the broker channel play. Help the loan officer in the broker channel get new realties, build relationships, win more loans, continue to educate consumers that — and educate the markets, what you guys have it be happy to road, it’s $9,400 cheaper to go through a mortgage broker than a retail lender or a mega bank. That’s why the big mega banks, you heard as well back out. You see rocket falling through the ground. All these companies are really struggling because they are charging so much more to consumers.
Game On accelerates that and shows even more. And so it’s going to be very interesting to watch and see how that happens and that and then market share obviously went up. Do I expect the market share to stay at 54%? No, I probably don’t expect it to stay there, but I never expected it to get there to be clear. What we said was, €œHey, can we get over 40% and maintain in that level? We’ve seen this happen before. We did this. This isn’t like a new thing. We just went public last time I did it back in 2019. We’ve seen it. We know the stickiness. We understand how to control the stickiness and make sure clients understand the value because it wants a loan officer. And you can call any loan officer you want, Doug, in the mortgage, go to find at mortgagebroker.com, call loan officer and ask them.
And they’ll say, once you use UWM, you realize it’s faster, it’s easier, it’s cheaper. They look good to dealers. They look good to consumers. Why would they not use UWM? And so Game On helped bring a couple of those loan officers to use UWM that hadn’t in a while and they see it. They’re going to see the value of UWM, and they’re going to stick with us for the long-term. We’ve seen it happen before. You’ll see it play out. It will happen quarter-on-quarter stay 54%, I don’t think so, but it will be higher market share than I had before it, absolutely without question.
Douglas Harter: Appreciate that. Thanks, Mat.
Mat Ishbia: Thank you.
Operator: The next question is from Steve Delaney with — who is a research analyst. Your line is open.
Steven Delaney: Thanks. Good morning, Mat and everyone at UWM. A lot of focus, obviously, on originations side of the business, but love to talk about servicing for a bit. Rising rates where the economy really hasn’t broken from an employment standpoint yet. But at some point, the higher rates are going to have an impact. Just curious if you’re seeing any increase in delinquency, special servicing, servicing advances that obviously follow delinquency? And are your cost per unit on the servicing side of the business — are you seeing any pressure there that those are moving higher? Thanks.
Mat Ishbia: Yes. So thank you for the question and the focus on the servicing, I understand that is important. And so what we’ve done differently is this, it’s just not been effective, no impact at all, right? And so our delinquencies. One thing that people don’t give us credit for us, although we’re the largest lender in the country, I focus on being the best lender in the country. We’ve been the best for years. The delinquency rate at UWM is lower than almost anyone in the country. The FICO scores of the loans UWM does is the highest in the country. So I’m not just comparing to other nonbanks, I’m looking at banks, nonbanks, credit unions. We are the lead on this. And so our delinquency rate is less than one — the numbers are just aren’t impacting.
