Mich.-based United Wholesale Mortgage CFO Timothy J Forrester dies at 55

Carol Thompson
The Detroit News

Timothy J Forrester, chief financial officer of Pontiac-based United Wholesale Mortgage, died Sunday at 55 following "a valiant battle against cancer," according to an online obituary.

"He died surrounded by the love of family & friends across the world," his obituary said.

UWM president Mat Ishbia announced Forrester's death Tuesday on LinkedIn.

"Tim was an amazing CFO, leader, and friend to so many," Ishbia said. "He made me a better CEO and helped build this company with me for the last 10 years. Tim made such a positive impact on everyone he met, and I was proud to call him a friend. He will be greatly missed."

Forrester of Bloomfield Hills will be remembered at a celebration of life at 5:30 p.m. July 21 at A.J. Desmond & Sons, 32515 Woodward Ave., Royal Oak, Michigan. The visitation will start at 2 p.m. Anyone who knew Forrester is invited, according to his obituary posted by A.J. Desmond & Sons funeral directors.

Forrester oversaw all financial aspects of UWM, a wholesale lender. He had more than 30 years of experience working with mortgage companies, credit card processors and in other industries.

UWM is the crosstown rival of Detroit-based Rocket Companies Inc. Both companies have been making their way through a turbulent market of frenzied home buying, high home prices, limited inventory and rising interest rates. 

More:How Rocket Mortgage, UWM are weathering rising interest rates

Rocket is the larger of the companies, with $2.8 billion in net income in the first quarter of 2022. UWM, which exclusively originates mortgages through independent brokers, earned $453.3 million.