Mat Ishbia is the President and CEO of United Wholesale Mortgage (UWM) and the majority owner and governor of the NBA’s Phoenix Suns, the WNBA’s Phoenix Mercury and the G League's Valley Suns. Under his leadership, UWM has emerged as one of the most innovative lenders in the industry. He is a strong advocate for mortgage brokers nationwide, frequently promoting the wholesale channel on major platforms such as CNBC and Fox Business. Mat's commitment to supporting independent mortgage brokers and expanding the wholesale sector has propelled UWM from a modest 12-person operation to the #1 overall mortgage lender in America, maintaining its position as the top wholesale lender for the last decade. In January 2021, he took UWM public in the largest SPAC deal at the time (NYSE: UWMC), significantly enhancing the visibility and value of brokers across the country.
Building A Winning Team
Prior to joining UWM, Mat played basketball for four years at Michigan State University (MSU), going to three Final Fours and winning the National Championship in 2000. He also spent a year coaching alongside Tom Izzo. After graduating from the MSU Eli Broad College of Business in 2003, Mat left the MSU basketball program to join the company his father founded, Shore Mortgage, known today as United Wholesale Mortgage.
Mat joined UWM as its twelfth team member, beginning his tenure in Operations and learning the mortgage process from the ground up by originating loans and working as an account executive. Mat’s sports background, leadership style and dedication to a team-focused business approach enabled him to gain record-breaking wholesale market share and rapidly grow UWM into a leading lending operation.
One of Mat’s most impactful decisions was to put mortgage brokers at the center of his business and make them the company’s sole focus. He accomplished this by bringing account executives in-house and giving brokers direct access to them, as well as their underwriters and closers. This was a new concept in the industry and something other lenders weren’t yet practicing.
In 2013, Mat was named President and CEO. Under his leadership, UWM has experienced tremendous growth, becoming the #1 wholesale mortgage lender in the nation in 2015 and #1 overall mortgage lender in 2022, rankings the company still holds today. UWM also made headlines in 2021 by going public through the largest SPAC deal at the time, achieving a valuation of $16.1 billion and listing on the New York Stock Exchange as UWMC.
Mat also authored a book, "Running the Corporate Offense: Lessons in Effective Leadership from the Bench to the Board Room," detailing how his experience on the MSU basketball team helped influence his leadership style and company culture.
Today, Mat is known as the most prominent advocate for mortgage brokers nationwide. During his time as President and CEO of UWM, mortgage brokers have experienced more growth than they had in the previous 10+ years.
Giving Back To The Community
Mat is passionate about philanthropy and focused on creating opportunities for youth and the local community.
When UWM moved to Pontiac, MI, the company was eligible for $1.9 million in tax breaks for its new headquarters. He made the decision to return the money to the Oakland County Brownfield Redevelopment Authority to reinvest in the community.
Mat’s commitment to giving back is evident through his significant contributions to various causes, including a historic $32 million donation to Michigan State University athletics, the largest single cash commitment from an individual in MSU’s history.
Mat also donated $2 million to the V Foundation to support Dick Vitale’s efforts to raise awareness for pediatric cancer research and made a generous donation to Beaumont, now known as Corewell, to support a renovation of the hospital’s Cardiovascular Intensive Care Unit.
Additionally, Mat purchased Ultimate Soccer, a sports complex in Pontiac, MI, and committed $10 million to enhance it to provide a space free of charge for local youth sports and recreation, while renaming it the UWM Sports Complex. This state-of-the-art facility now holds 8 full basketball courts, 16 volleyball courts, two soccer fields and an indoor track. His goal is to ensure that those who may be facing cost and transportation barriers are able to access the facility.
Mat further demonstrated his commitment to children and youth development by donating $500,000 to help fund The Flint Sports Complex at Sylvester Broome Empowerment Village to enable kids in Flint, MI, to develop leadership skills through sports and teamwork.