Mike Fawaz, former executive at Rocket Pro who departed in February, is set to launch a new broker platform in May. The platform's inaugural lender partner is United Wholesale Mortgage, a previous archrival of Fawaz's former employer.
This partnership marks a notable shift for Fawaz, who led Rocket Pro's mortgage broker division before his exit. Joining forces with UWM, one of the largest wholesale lenders, signals an intent to reshape the broker landscape.
While the platform's full feature set remains unclear, the tie-up with UWM provides immediate market reach. The move could intensify competition among mortgage originators vying for broker business.
UWM stands to benefit from this relationship by gaining early access to Fawaz's distribution network. However, the platform's long-term success will depend on execution and the ability to attract additional lender partners and loan officers.