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Brokers hold the golden key in the wholesale lending space due to their independence and ability to source the best product, making them the vital link in the chain to borrowers. Their guiding star is selecting what makes the most sense for their clients.
Proving that point, Mortgage Professional America canvassed brokers nationwide to determine the best wholesale lenders, who have met rising mortgage rates head-on, provided exceptional customer service, and innovated with loan options.
All of MPA’s respondent brokers reported that they work with a minimum of three wholesale lenders annually, indicating how committed they are to shopping around on behalf of borrowers.
And this is an established way of working, as the majority of respondent brokers have over a decade of experience in the sector, showcasing why the best wholesale lenders can never be complacent.
Placing further demands is the heightened awareness of the end customer. “Consumer expectations have evolved. Borrowers want quick answers; they want things that are user-friendly and transparent,” says Samantha Shelton, broker owner at Align Lending in Detroit.
And the strategic role that brokers have in the wholesale market will only grow, predicts one of MPA’s 5-Star Wholesale Lenders, United Wholesale Mortgage (UWM). CEO Mat Ishbia adds, “People are expecting over a million more loans to be done this year than last year.”
Underlining UWN’s performance, along with fellow 5-Star Wholesale Lenders, Rocket Mortgage was responsible for over 10 percent of all US loan originations in 2024.
Tyler Flora, CEO of Californian brokerage Sunnyhill Financial, explains, “Having low rates is great, but it doesn’t always mean that the lender is the best fit for the transaction if you are working on a tight deadline. Finding a compromise with price, technology, good underwriting, and efficient workflow is the trick to winning in wholesale.”
The need for a top wholesale lender to have a far-reaching skill set is emphasized by Shelton. “We're looking for someone who’s going to be a true partner,” she says.
To determine value, brokers adopt a comprehensive approach to evaluate wholesale lenders, blending quantitative metrics, qualitative feedback, and ongoing relationship management to ensure optimal outcomes for their clients.
Quantitatively, the best brokers scrutinize interest rates and total loan costs, comparing rate sheets from multiple lenders to secure the most competitive pricing. They look beyond headline rates to assess the full spectrum of costs, including origination, lender, and third-party fees, ensuring that lower rates are not offset by hidden charges.
Turnaround times are another critical metric; brokers track how swiftly lenders process, underwrite, and fund loans, benchmarking these timelines against industry standards and client expectations. Consistency in meeting deadlines, especially for time-sensitive transactions, is a key indicator of lender reliability. Additionally, brokers monitor approval rates, the frequency of last-minute conditions, and average days to close, often maintaining internal scorecards to track and compare lender performance over time.
Qualitative feedback plays an equally important role. Brokers evaluate the breadth and flexibility of loan programs offered, favoring lenders with a wide array of products – including conventional, FHA, VA, jumbo, and non-QM options – and the ability to accommodate exceptions for unique borrower needs.
Customer service is paramount: brokers assess the responsiveness and expertise of account executives and support teams, valuing proactive communication, regular status updates, and effective problem-solving. The usability of lender technology, such as online portals for submissions and status tracking, also factors into evaluations, with brokers preferring platforms that streamline processes and provide real-time information.
Keys:
Responsiveness: brokers assess how quickly and thoroughly account executives and support teams respond to inquiries and resolve issues.
Proactive updates: lenders who provide regular, proactive status updates and clear communication throughout the loan process are highly valued.
Problem-solving: brokers note how well lenders handle obstacles, escalate issues, and advocate for the broker’s and borrower’s interests.
“We want to know that guidelines are being followed the same way every time. If an underwriter says yes and another one says no on a file, it creates confusion,” explains Shelton. “We need to know that our lender is going to pick up the phone, that they’re going to respond to our emails and keep us in the loop.”
Keys:
Speed to close: brokers track how quickly lenders move files from submission to closing. They monitor average processing, underwriting, and funding times and compare these to industry benchmarks and client expectations.
Reliability: consistency in meeting deadlines, especially for time-sensitive deals, is a key performance indicator.
Shelton cautions that speed matters, but it has to be controlled. She says, “Obviously, fast turnaround times are always what we’re looking for, but it has to be fast and correct. A rush file that gets denied is worse than a slow file,” she says. “If you’re waiting too long, you’re going to lose that consumer.”
While Flora underlines how expectations of time have moved forward. “Six years ago, the average rate lock was 45 days for refinances and at times a 30-day close on a purchase,” he says. “We are now seeing refinances closing dramatically faster and purchase contracts coming back with a 14-day close time.”
Loan program breadth: brokers evaluate whether lenders offer a wide variety of products (conventional, FHA, VA, jumbo, non-QM, etc.) and niche solutions for unique borrower needs.
Guideline flexibility: lenders that can accommodate exceptions or offer creative solutions for challenging scenarios are rated higher by brokers.
Portal usability: brokers prefer lenders with intuitive online portals for submissions, status tracking, and document uploads.
Automation: the use of technology to streamline processes, reduce paperwork, and provide real-time information is a significant factor, for example, in Dokless Asset Verification.
Shelton highlights how brokers are keen to explore what tech is offered. “I want to see every single tool,” she says. “I want to see how it’s going to make the experience for me and my client better. Our industry is so fluid; it moves every single day up and down, and you never know what the next day is going to hold.”
Interest rates: brokers compare rate sheets from multiple lenders to ensure their clients get the most competitive pricing. They look for consistency and transparency in rates, as well as the availability of rate lock options.
Total loan costs: beyond just rates, brokers evaluate total costs, including origination, lender, and third-party fees. They assess whether lower rates are offset by higher fees elsewhere.
Broker education: ongoing training, webinars, and accessible resources are important for brokers to stay current with products and compliance.
Market intelligence: lenders who provide market updates, rate trends, and product comparisons help brokers make informed decisions.
It could be leading-edge tech, new products, or strategic blueprints, but all their innovations are designed simply to serve brokers faster and more efficiently, which in turn delivers a better experience for America’s homebuyers.
Brokers are reaping the benefits of the United Wholesale Mortgage (UWM)’s vision, which has resulted in two groundbreaking platforms.
Loan Estimate Optimizer (LEO): instantly analyzes a competitor’s loan estimate and raises alerts if it identifies that the appraised value was inflated, if the rate is outdated, or if the competitor omitted pricing adjustments. It also taps into UWM’s extensive set of programs and pricing strategies to give clear, competitive alternatives they can present to borrowers.
Mia: a generative AI voice agent that handles both inbound and outbound calls and answers complex borrower questions in a natural way, even able to do 100,000 concurrent calls at a time. It also explains loan options, down payments, and LTV ratios, greets callers by name, and transfers live calls when enabled. It will call 20 days after the loan closes to remind borrowers of their first payment due date. A second call will be made 180 days after closing and every 90 days thereafter to help the loan originator stay in the borrower's mind. If interest rates drop, Mia will contact borrowers to let them know they could be eligible to refinance. Each broker is assigned a unique number tied to their area code, automatically linked to their account. It can also take messages, schedule appointments, and collect callback information.
“There are guardrails right now on Mia,” says Jason Bressler, chief technology officer. “As we get feedback, as we make sure she’s behaving exactly the way that she should and doing the right things, she can expand. This is literally just the beginning of what Mia is capable of.”
It’s been a whirlwind time for the firm. At the start of 2025, it launched a new logo along with a rebrand of its broker channel to Rocket Pro, which CEO Varun Krishna referred to as “doubling down” on brokers. It also acquired Redfin and Mr. Cooper, indicating the firm’s desire to gain market share.
There have also been in-house developments such as:
RocketRentRewards: launched in February, offering new homeowners 10 percent back on their last 12 months of rental payments, with up to $5000 in lender credits toward closing costs. It’s part of their Own The Dream manifesto, which was advertised during the 2025 Super Bowl.
The firm also became part of the ARIVE network, offering real-time pricing, interest rates, and product eligibility directly to its over 28,000 broker users.
This is part of a big push, as the firm is committed to using AI to help close every home refinance loan in four days. It focuses on data ingestion and data extraction to increase speed. The company has also vowed to seek more feedback from brokers and deploy that at scale.
Launched an exclusive automated decision system for non-QM loan products, referred to as “game-changing”.
It's intended to deliver all-round efficiency by offering:
Instant approval eligibility: loan eligibility is approved instantly, saving valuable time for both brokers and borrowers.
Automated condition generation: instantly generates a custom set of conditions, allowing brokers to quickly approve a borrower for a non-QM loan.
Consistency in decisions: an AI-driven system ensures consistent, accurate, and fair loan evaluations every time.
Intuitive interface: making it easy to use.
Technologically advanced: brings automated approvals to non-QM loans for the first time, allowing A&D partners to win the competition.
“Our Non-QM Automated Underwriting System is a major step forward in simplifying the complexities of Non-QM lending,” says CEO Max Slyusarchuk. “We’ve designed this system to meet the real needs of brokers, providing them with a faster, more reliable way to process loans while maintaining the flexibility that non-QM loans require.”
Formed a strategic partnership with LendingPad, the award-winning cloud-native Loan Origination System (LOS).
The integration enables brokers to connect with Kind Lending directly through the LendingPad Wholesale Gateway, providing access to real-time pricing and submissions via Kind’s Kwikie Broker Portal. This partnership combines LendingPad’s intuitive workflow solutions with Kind Lending’s experienced Account Executives and diverse loan options, offering brokers an efficient way to manage and close more loans.
“Our mission has always been to make life easier and more successful for mortgage brokers,” said chief production officer Delfino Aguilar. “This partnership with LendingPad is another step in delivering faster systems, stronger visibility, and smarter support that helps brokers close more deals and grow their business.”
Brookfield Asset Management (BAM) acquired a majority stake in Angel Oak Companies, integrating the firm into Brookfield’s $317 billion credit business.
The move will enable Angel Oak to make strides in the growth of the non-conforming mortgage space, as both companies anticipate that non-QM loans will occupy a larger portion of the mortgage market over the next few years.
Angel Oak’s problem-solving approach is shown by its Home Equity Line of Credit (HELOC) program, enabling borrowers to tap into their home’s equity while retaining their first mortgage. With this product, borrowers receive a revolving line of credit up to the approved credit limit. There are no restrictions on how borrowers can use the funds, and they are able to make interest-only payments during the draw period.
The best wholesale lenders are those who combine competitive pricing, broad product offerings, responsive service, and cutting-edge technology, ensuring they remain indispensable partners to the broking community.
MPA’s 5-Star Wholesale Lenders 2025 shows that the leading firms focus on:
Experience and expertise: the majority of brokers surveyed have over a decade of experience, reinforcing the need for lenders to consistently deliver high standards and avoid complacency.
Evolving consumer expectations: borrowers now demand speed, transparency, and user-friendly processes. Brokers are adapting by seeking out lenders who can meet these heightened expectations, particularly in turnaround times and technology.
Innovation and technology: leading wholesale lenders are investing heavily in technology – such as AI-driven platforms, automated underwriting, and integrated broker portals – to streamline processes, enhance communication, and deliver faster, more reliable service.
Strategic partnerships and product expansion: the top performers are forging strategic partnerships, launching new products, and leveraging advanced technology to support brokers.
In March, MPA invited brokers to rate their preferred lenders in two categories: Wholesale and Non-QM. Lenders were evaluated across six key criteria: interest rates, turnaround time, customer service, technology, loan programs, and training.
Brokers scored each criterion out of five. Lenders that achieved an average score of 4.0 or higher in each category were recognized as 5-Star Wholesale Lenders.