UWM works with independent brokers around the country to underwrite and service mortgages. It is one of a number of nonbank mortgage companies embracing the public markets at a booming time for the U.S. housing market. Low interest rates helped push mortgage originations to record levels in 2020. UWM was the third-largest mortgage lender in the U.S. in the first three quarters of 2020, according to industry research group Inside Mortgage Finance.

https://www.wsj.com/articles/united-wholesale-mortgage-goes-public-in-biggest-spac-deal-ever-11611336319?mod=lead_feature_below_a_pos1