UWM, by far the top wholesale lender in the country, will replace Flagstar Bank as the Detroit Pistons basketball team's jersey sponsor.
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Hello, LOs!
On Thursday, United Wholesale Mortgage announced that they had struck a big-time marketing deal with the Detroit Pistons. UWM, by far the top wholesale lender in the country, will replace Flagstar Bank as the basketball team's jersey sponsor. So there will be a big, fat UWM logo opposite the Nike swoosh that promotes the broker channel.
When I look around, I struggle to find patches of the American sports tapestry that aren't covered in mortgage logos. You could practically take a cross-country road trip just going to ballparks named after mortgage lenders.
On earnings calls, the CEOs of these publicly traded lenders spend a lot of time talking about brand penetration, the strength of their marketing apparatuses, how important it is to tell the world that their LOs are the best, that their technology is best-in-class, etc.
It's hard to quantify whether such moves translate into sales, so let me ask you LOs: how often do you get leads because a couple in Chicago is looking to buy a house and thinks about Guaranteed Rate Field, or a family in Coral Gables is reminded of LoanDepot Park in Little Havana? If you're an LO or a broker, would you rather the sports-related marketing money be directed somewhere else? Let me know. I'm at jkleimann@housingwire.com.
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