United Wholesale Mortgage mourns death of 55-year-old CFO Timothy Forrester

Timothy J. Forrester, chief economic officer at wholesale lender United Wholesale Mortgage (UWM), died Sunday, following a cancer analysis and monthslong illness. He was 55.

Forrester, of Bloomfield Hills, Michigan, died “following a valiant battle against most cancers,” in accordance to an on the net obituary by the A.J. Desmond & Sons Funeral Household. “He died surrounded by the appreciate of family and buddies throughout the entire world.”

Timothy Forrester, former CFO at UWM
Timothy Forrester

Forrester, who served as UWM’s CFO for 10 a long time, oversaw all money features of the group, from monetary reporting to liquidity administration, in accordance to the company’s web site. The government had additional than 30 a long time of expertise which include shopper assistance, auditing, accounting, economical reporting and hedging.

“Tim was an amazing CFO, chief and pal to so a lot of,” UWM CEO Mat Ishbia wrote in a Tuesday LinkedIn submit. “He created me a improved CEO and assisted build this organization with me for the final 10 many years. Tim designed such a optimistic impact on absolutely everyone he achieved, and I was very pleased to call him a buddy. He will be significantly skipped.”

A UWM spokeswoman offered a organization statement when asked for supplemental particulars of Forrester’s achievements.

“Tim was a buddy to every person, and he was often keen to share his information and perception to make UWM and our staff users improved,” the spokeswoman wrote in a Wednesday early morning email. “Over his 10 many years at UWM, he created us giggle, he educated us and he helped to cultivate a a single-of-a-sort work family members.”

Just before signing up for UWM in 2012, Forrester was a partner in the money markets team at Deloitte & Touche for more than 18 many years. 

He also was a longtime member of the Property finance loan Bankers Association (MBA), serving on its finance committee, in accordance to UWM. He was elected as a member of the MBA’s Business Home loan Board of Governors, serving as the lone “Big 4” agent. In 2021, Forrester was named as one particular of HousingWire’s finance leaders.

Forrester was very well-favored by his colleagues, who explained him as constructive and optimistic, with a incredible sense of humor. 

“When he told the team about his analysis, we have been devastated for him but he remained poised with confidence and positivity,” Darin Sitto, director of accounting plan at UWM, wrote in a comment less than Isbia’s LinkedIn post. 

“He stood up in the middle of our huddle and was selected he was likely to fight like hell to beat it. That instant will live in my intellect eternally,” reported Sitto, who joined the group just 1.5 years ago. 

Brinda Jaikumar, a director of economical compliance at UWM, mentioned Forrester was a single of the “sharpest and wittiest people,” but showed “so substantially humility, kindness and compassion in these types of an effortless way.” 

She added: “He was a outstanding gentleman and he showed what positivity and strength is via the most tough battle of his lifetime more than the final numerous months.”

A memorial for Forrester will be held at 5:30 p.m. July 21 at A.J. Desmond & Sons Funeral Home, 32515 Woodward Ave. in Royal Oak, Michigan. 

Andrew Hubacker, senior vice president and chief accounting officer, will serve as the interim principal money officer, in accordance to the firm’s 8-K present report submitting.

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