Mat Ishbia, the CEO of United Wholesale Mortgage (NYSE: UWMC), voiced his support for the 50-year mortgage floated by President Trump and Federal Housing Finance Agency Director Bill Pulte while praising them for concern and support of the housing market.
In a video shared on the company’s social media platforms, Ishbia stated “I love the concept from President Trump and Bill Pulte,” commending them for proposing different solutions to tackle housing affordability.
“I do know that these guys care about the housing industry, and they’re trying to come up with new ideas,” he said, citing the idea of a portable mortgage. “They’re thinking about things that we’ve all talked about in our industry. And so, it’s great to have leaders that are thinking about the housing market, and how can we make things better.”
Ishbia added that if the 50-year mortgage came to fruition, it would be “a huge program, especially if you can get the liquidity from Fannie and Freddie and make it so the payment and the math works. Because lower payments are always better. It would help housing values; it would also help more people to be able to buy houses. It’d be a win across the board.”
