Mat Ishbia on Leadership and Mortgage Lending

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 16 July 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bloomberg Opinion columnist Barry Ritholtz speaks with Mat Ishbia, the chief executive officer of United Wholesale Mortgage, which is the top wholesale lender and No. 2 overall mortgage lender in the United States. The 9,000-person firm went public in the biggest SPAC ever. Ishbia is also the author of “Running the Corporate Offense: Lessons in Effective Leadership from the Bench to the Board Room.”

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0:00.0	This is Masters in Business with Barry Redholz on Bloomberg Radio.
0:09.4	This week on the podcast, I have an extra special guest.
0:12.9	Drop yourself in for this one.
0:14.9	Matt Ishbia runs United wholesale mortgage.
0:18.6	Not only are they the biggest wholesaler in the country, they're also the number two overall
0:24.0	mortgage lender.
0:25.5	And he's got a fascinating history from being a walk on at Michigan State as a point guard
0:31.8	to eventually being an assistant coach there to joining his dad's 12 person firm that was
0:38.7	doing mortgages to just enjoying explosive growth because they were doing the right thing.
0:46.6	They did not get suckered into all of the lyre loans and all of the ridiculous no income
0:53.6	check, the ninja loans, no income, no credit rating, no job, all that craziness United
1:00.4	wholesale didn't participate in.
1:02.8	And once the financial crisis ended, they just took over and became literally the biggest
1:11.4	mortgage wholesaler in the country.
1:13.5	He's a fascinating guy.
1:14.8	He's done some really interesting things so enthusiastic about the business.
1:20.6	Can you see a company that approaches things in the right way to watch them go from a 12
1:26.6	person firm in 2004 to a 9300 person firm today, it's really quite fascinating.
1:35.6	You will see what I mean by his infectious enthusiasm and how much he is just so into
1:43.9	running the company and how enamored he is about the entire mortgage business.
1:48.4	It's hard to listen to this and not become enthusiastic.
1:53.1	So with no further ado, my conversation with United wholesale mortgages CEO Matt Ishbija.
	...

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