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United Wholesale Mortgage Makes Significant Changes To Rates And Pricing

United Wholesale Mortgage (UWM), the No. 1 wholesale lender in America for four consecutive years, has made a major change to its pricing philosophy, now providing mortgage brokers with the best rates and pricing in America.


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UWM has been consistently competitive in terms of rates, regularly ranking near the top of most rate comparisons, but was recognized by mortgage brokers more for its fast and easy processes than offering the best pricing. Now, UWM’s rate sheet is expected to outshine all of its wholesale competitors, in addition to continuing to set the gold standard for service, process, technology and partnership tools.


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“Perception has always been that a lender can’t deliver it all – the best service, great technology, a true partnership, and have the best pricing too – but now they can have it all,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “We’ve shattered expectations. If a mortgage broker has a borrower with a 640+ FICO, it should be a UWM loan.”


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UWM has removed all state adjustments and many Loan Level Price Adjustments (LLPA), as well, offering the best pricing on every loan with a 640 FICO and above.


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The major pricing improvement follows other recent pricing initiatives that UWM has brought to market, including its Jumbo Bank Buster program (cheapest jumbo rates) and its lower Borrower-Paid M.I. rates.

UWM finished 2018 with $41.5 billion in total loan volume, an all-time high for the company, making up nearly a quarter of the entire wholesale industry’s market share. That production represents a 40% year-over-year growth, making UWM the fastest-growing lender in the nation. Additionally, UWM is the No. 1 non-bank purchase lender in the country and ranks fourth overall among the top-producing mortgage lenders, overall, in America.

Calyx Launches New Portfolio Underwriting Capability

Calyx Software has launched Portfolio Underwriter, an automated underwriting system (AUS) from LoanScorecard. This service is now available to Point and PointCentral clients. Portfolio Underwriter allows portfolio lenders to customize credit decisioning and safely originate non-agency loans that they intend to put on their balance sheets.

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It captures a portfolio lender’s program guidelines within its engine and delivers a rules-based underwriting decision in seconds. Results of the decision are documented in a findings report. This report includes program-specific, conditional underwriting criteria utilized in the data analysis.

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Portfolio Underwriter seamlessly integrates with Calyx Point and PointCentral loan origination systems. The connection facilitates bidirectional data flow and provides a single system of record for all loan documentation. Centralization of processes and documents streamlines preparation for audits, board reviews and regulatory submissions.

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The solution helps portfolio lenders by:

>>Providing a mechanism to safely and easily communicate underwriting criteria for new niche products.

>>Conducting extensive loan file data checks and in-depth credit report reviews.

>>Allowing them to manage exceptions based on valid compensating factors on the loan, rather than loan officer “discretion.”

>>Ensuring consistent, transparent credit policy application to demonstrate Fair Lending and improve efficiency.

“Manually underwriting portfolio loans not only exposes lenders to Fair Lending issues, but is also time consuming and costly,” said Ben Wu, Executive Director at LoanScorecard. “By incorporating automated technology like Portfolio Underwriter, portfolio lenders using Point and PointCentral can improve efficiency by streamlining decisioning for their unique programs and focus on more complex transactions.”

“The predominant focus of Fair Lending violations is how and why loans were approved; therefore, it is critical to have an AUS in place to demonstrate the standard practice of quality underwriting,” said Bob Dougherty, Vice President of Business Development at Calyx Software. “While lenders are certainly familiar with agency AUSs, they are also aware of gaps in automated decisioning for their portfolio products. Portfolio Underwriter helps lenders who originate portfolio loans automatically determine the appropriate response for their institution—ensuring compliance with Fair Lending at the point of sale and in the underwriting process.”

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Optimal Blue Partners With Leading CRM Player

Optimal Blue has partnered with Media Center CRM to offer a seamless and powerful prospecting tool that can be used by both mortgage professionals and their Realtor partners. Here’s why this is significant:

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The Optimal Blue/Media Center CRM partnership is a logical and timely collaboration. Borrowers and homebuyers need access to real-time pricing information to make informed decisions; which is an unparalleled strength of Optimal Blue’s technology. Likewise, mortgage professionals need a vehicle to provide this information to their customers and Realtor partners in a consistent and compelling format, and that is where Media Center CRM shines.

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“As a premier marketing CRM provider, it’s imperative that we remain at the forefront of emerging technologies,” said Dan Harrington, CEO of Media Center CRM. “Though we generally build our own system enhancements, there are instances where the smartest thing to do is partner with a firm that has the experience and is the technology leader in their space, so that our customers can enjoy the benefits of our individual strengths. Our partnership with Optimal Blue is a perfect example of that.”

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“Borrowers are demanding a more streamlined and simplified experience in every aspect of their lives, and dynamics of the mortgage process is no exception,” said Bob Brandt, Vice President of Marketing & Alliances, Optimal Blue. “Well-designed integrations between leading technology partners is the fastest and most efficient way to bring the best-of-the-best directly to the consumer.”

New Integration Enhances Loan Pricing

Mortech has completed a new integration between Mortech’s product and pricing engine (PPE) and secondary marketing solutions, and Calyx’s Point and PointCentral (Point) loan origination software (LOS). Through this integration, Point users can access Mortech’s mortgage product and eligibility information and compare loan pricing scenarios from over 400 supported investor rate sheets all within the Calyx interface.

“In today’s competitive market place, closing loan transactions quickly and efficiently is critical and lenders are increasingly looking for technology solutions to help streamline the loan process,” said Doug Foral, general manager at Mortech. “By aligning the Mortech and Calyx Software offerings, we are providing our customers with the mortgage automation solutions they seek to optimize their day-to-day workflow, bringing simplicity to the complex mortgage environment and ultimately, delivering a technological solution to allow our customers to close more loans more quickly.”

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The new integration provides instant access to Mortech pricing, including loan specific rate, profit and adjustment information, along with automating the lock request process by seamlessly transferring borrower scenario data between Marksman and Point. The enhanced integration removes manual data re-entry, reduces the possibility of human error, and improves loan-processing automation through multi-system interoperability.

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“At Calyx, we’re continually enhancing our software and adding quality technology partners to our network to offer a competitive edge to our mortgage banking and broker clients,” said Dennis Boggs, executive vice president of business development at Calyx Software. “Integrating Mortech’s product and pricing engine into our platform will simplify the searching process for our users and provide them access to pricing from Mortech’s extensive portfolio of supported wholesale and correspondent programs.”

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New Mortgage Pricing App Emerges

Optimal Blue, a cloud-based provider of enterprise lending services to the mortgage industry, recently hosted a gathering of lenders, vendors, industry experts and leaders at their 2015 Client Conference. The conference featured more than 30 industry experts, and over 80 exhibitor and sponsor attendees. Among other things discussed, the company launched a new product. Here’s what happened:

Themed “Instruments of Change,” this year’s conference focused on empowering users through managed-content workflow services. Hundreds Optimal Blue customers were able to preview multiple new innovative services, learn more about the services through in-depth feature discussions, as well as enjoy topical panels and educational sessions.

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“This is my second year attending the Optimal Blue Client Conference and it keeps getting better,” said Juan Rodas, SVP of Secondary Marketing for First Guaranty Mortgage Corporation. “It is very exciting to see all of the new things that Optimal Blue is working on, and to engage in peer to peer discussions regarding important industry topics. Knowing that our comments and ideas as customers are truly taken into consideration during enhancements and designs makes it a worthwhile conference to participate in.”

An exciting highlight of this year’s conference was the introduction of QuickSearch, a privately branded mortgage pricing app for mobile devices. Backed by the guaranteed accuracy of the premier product and pricing engine, Optimal Blue Banker, QuickSearch allows loan officers to perform real-time pricing searches for their borrower at anytime, anywhere. A configurable quick search form displays the fields that are most important and relevant to the company’s business while configurable results are displayed based on unique product offerings.

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Larry Huff, co-Founder and co-CEO of Optimal Blue, states, “We hope our customers leave the conference feeling connected and informed, with a deeper understanding of our commitment to innovation that drives Optimal Blue, as well as our commitment to quality and providing customers with services that will further drive business efficiency, profitability, and compliance.”

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