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Lender Launches Consumer-Facing Website Touting Benefits Of Working With Mortgage Brokers

United Wholesale Mortgage (UWM) has launched a consumer-facing website, FindAMortgageBroker.com, dedicated solely to promoting the advantages of working with a mortgage broker for borrowers as well as real estate professionals, and helping both groups easily locate mortgage brokers in their area.

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UWM created the website to enhance awareness of mortgage brokers as a better option than large banks and mega retail lenders for three groups: consumers looking to get a residential loan; real estate professionals who want to build reliable partnerships and empower their clients; and bank or retail loan originators who are looking for the best place to work.

“Consumers are constantly inundated with advertising from banks and mega retail lenders that is only focused on interest rates, but there is more to a mortgage than the rate. More focus should be on finding the best program and lowest overall monthly payment for their specific needs, and the interest rate is only a small part of that,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “A local mortgage broker will educate consumers on the full picture, clearly lay out all the options available from multiple lenders, and help them find the best possible deal. FindAMortgageBroker.com gives consumers nationwide a platform to easily locate nearby mortgage brokers and learn about why they’re the best choice for getting a mortgage.”

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In addition to serving as an educational guide of written and video content explaining the value of mortgage brokers, the website provides a nationwide database of mortgage brokers filtered by location.

“Mortgage brokers are the best way for people to get a mortgage, but it’s difficult for people to use a broker if they don’t know where to find one. This website will make it easy to find a mortgage broker that is local to them,” Ishbia said.

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Investing in this website to ensure that borrowers are educated on why mortgage brokers are best further supports UWM’s commitment to growing the independent mortgage broker channel.

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United Wholesale Mortgage Brings On New Chief Strategy Officer

United Wholesale Mortgage (UWM) has hired Alex Elezaj as its Chief Strategy Officer. Elezaj most recently served as Chief Executive Officer of Troy, Michigan-based Class Appraisal, a nationally recognized leader in residential real estate appraisal management.

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“We are thrilled to have such an amazing leader join our team, and his main focus will be aligned with UWM’s which is to help our mortgage broker partners grow,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “He is in total lockstep with our company from a leadership vision and culture standpoint, as he believes mortgage brokers are the best place for loan originators to work and for borrowers to get a mortgage.”

Under Elezaj’s three-year tenure as CEO of Class Appraisal, the company more than tripled its annual revenue and built strategic business partnerships with more than 300 mortgage lenders and over a thousand of the nation’s top-performing appraisers.

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“What UWM has done over the last several years, growing at such an impressive rate despite market declines and entrenching itself as the run-away best wholesale lender in the country, is insanely impressive,” Elezaj said. “You can see UWM’s momentum and still-massive growth potential everywhere you look. I am excited to join such a great group of people and industry powerhouse, and play a role in its continued efforts to grow the mortgage broker channel.”

Elezaj has received several industry awards, including distinction as one of National Mortgage Professional’s “40 Under 40” honorees, Mortgage Professional America’s “Hot 100” selection, and a 2017 Vanguard award winner by HousingWire.

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UWM has separated itself from other wholesale lenders recently, finishing as the No. 1 wholesale lender in America for the past three years in a row. In 2017, UWM grew its loan volume by 29%, outpacing every other retail and wholesale lender in the country. Through the first quarter of 2018, UWM continued trending upward, increasing production by 85% while the industry overall declined by 10%.

The company has long been recognized as the premier advocate for pro-broker initiatives, and has led the charge to nationally tout mortgage brokers as the best option for consumers.

United Wholesale Mortgage Exclusively Offering Conventional High-Balance Loans Nationwide

United Wholesale Mortgage (UWM) is now exclusively offering Conventional High Balance loans nationwide, making a more cost-effective loan product available to borrowers in counties and states that previously did not have access to high-balance loans.

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“The roll-out of High Balance Nationwide opens up a huge business opportunity for mortgage brokers throughout America,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “This is a win-win for consumers and our mortgage broker network, and we are excited for this product to make a big difference to our broker partners and many of their consumers in 2018 and beyond.”

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Currently, only 7% of U.S. counties (220 out of 3,234) have access to loan amounts over $453,100, through FHFA Conforming loan limits, and up to $679,650. If a home does not reside in one of those 220 counties, the only program option is a true Jumbo loan. Jumbo loans notoriously comes with higher fees, tedious guideline requirements and stringent overlays.

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UWM is solving this problem by offering its broker network a Conventional High Balance loan program in 100% of U.S. counties. This program gives consumers access to a $679,650 loan amount, great rates, a streamlined underwriting process, and the accessibility of a $849,570 purchase price with a 20% down payment.

Highlights of the High-Balance Nationwide include:

>>680 Minimum FICO

>>43% Debt to Income

>>80% LTV

>>Primary and Second Homes

>>Lower rates, more flexible guidelines and fewer requirements than Jumbo

>>Fast turn times, averaging 15 days or less from submission to closing

“Jumbo loans are very competitive in our area, and we are in a county that High Balance is not available, so often we lose business to big banks as a result,” said Brodie Calder, President of Beam Lending in Layton, Utah. “Now we are able to offer a fast and easy competitive loan with a great rate that will not only be beneficial to growing our business, but it will also be a better loan option for our clients.”

This product is another example of UWM’s continued commitment to offer its network of mortgage brokers access to exclusive programs and products to grow their business. It comes less than three weeks after UWM announced that it lowered its minimum FICO requirements for Elite FHA and VA to 640, and down to 620 for all other FHA and VA loans. Additionally, UWM announced last week that it had made virtual e-closing capability available on all Conventional Purchases and Refinances in 16 states.

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United Wholesale Mortgage Introduces ‘BLINK’ Mortgage Portal

United Wholesale Mortgage (UWM) has released BLINK, a new all-digital loan portal that modernizes the way mortgage brokers work with consumers and strengthens their ability to compete against mega retail lenders in the market. BLINK – which stands for “borrower link” – is a consumer-facing web application that enables borrowers to combine the simplicity and flexibility of mobile technology with applying for a home loan.

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“Technology and consumer-driven tools are building momentum within the mortgage industry,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “With BLINK, new home buyers or existing homeowners will be able to initiate the loan process from any mobile device, in the comfort of their home, on their own time. We’re proud to make this great tool available to brokers throughout America, as we believe that brokers are best place for all borrowers to get a loan. It is a focus of ours to give brokers access to the best technology tools to compete with the mega retail lenders.”

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BLINK is a multi-functional portal that allows consumers and brokers to take an applications no matter where they are. Borrowers are given the capability to start the loan application process, pull their credit, e-sign documents, verify assets, and track the status of their loans – from anywhere.

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The technology caters to each consumer’s individual preferences. Borrowers can complete the mortgage process entirely on their own if they choose, or seek assistance from their mortgage broker at any time. Allowing the capability to co-browse screens with their clients in real-time to guide them through the process. Additionally, if a borrower wants to meet in person, they can still meet in person and complete the application online together.

“UWM made it very easy for me to realize the value this tool can bring to my business,” said Jason Davis of Oceans Mortgage. “Offering a smart mortgage application shows UWM’s dedication to advancing technology within the mortgage industry.”

UWM Introduces ‘Loan Swap’ Technology Allowing Originators to Prioritize Their Pipeline

United Wholesale Mortgage (UWM) has announced Loan Swap, a new pipeline management tool that enables originators to manage the order of their loans in UWMs underwriting queue. Loan Swap gives UWMs network of brokers a greater level of control over their entire pipeline, managing their loans to meet their borrowers’ timelines.

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“Loan Swap puts originators in the driver’s seat of their pipeline by creating greater transparency and giving them the power and flexibility to move loans within their pipeline, ultimately delivering better and faster service to their clients and Real Estate agents,” said Mat Ishbia, President and CEO at UWM.

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The new accessibility is a big perk for loan officers, as they were previously unable to view the order of the underwriting queue.

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“Having this much control over my pipeline is unprecedented,” said Amit Parikh, President of Mortgage 360, Inc. “Not only can I see where my loans are in line, I can reorder my queue when needed to keep my borrowers happy and my business moving.”

Loan Swap is the most recent of a slew of innovative tools UWM has brought to market to equip brokers with greater speed, control and efficiency in the production of their loans, joining the UClose platform and doc-less technology. UClose allows brokers to take loans from clear-to-close to closing in just minutes by creating their own documents and scheduling the closing. The revolutionary doc-less platform combines e-sign technology with automated systems so that brokers no longer need to acquire hard copies of pay stubs, tax returns or bank statements.

NAMB, United Wholesale Mortgage Announce $500,000 KickStart Program

The National Association of Mortgage Brokers (NAMB), The Association of Mortgage Professionals, announced today the launch of the KickStart program, an initiative designed to grow the mortgage broker channel by providing grants to loan originators aspiring to open their own mortgage shops. With a $500,000 grant from United Wholesale Mortgage (UWM), the No.1 wholesale lender in the nation and the program’s first sponsorship partner, Kickstart will begin immediately.

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The initiative will grant interested and qualified individual loan originators an amount up to $10,000, with the aim of covering startup costs such as office space and software technology that makes it possible for them to accept loan applications. Applicants are not required to pay back the funds.

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“At NAMB, our mission is to grow the mortgage broker channel, and the KickStart initiative shows how committed we are to putting our money where our mouth is,” said Don Frommeyer, CEO of NAMB. “We value the industry leadership and sponsorship UWM has provided to get this program off the ground, and we hope other lenders will participate in the program as sponsors as well.”

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KickStart is targeting loan originators in banks or branch networks who have experience in the residential mortgage industry and demonstrate a potential aptitude to successfully own and operate an independent mortgage brokerage firm. These individuals should embody an entrepreneurial spirit and have experience as a mortgage loan officer. Requirements that applicants must meet in order to receive funding include:

>>Minimum 3 years of experience in the mortgage industry

>>Company description

>>Production goals

>>Anticipated operational structure

“The KickStart program is about strengthening the mortgage broker channel as a whole because it’s the best way for consumers to get a loan,” said Mat Ishbia, President and CEO of UWM. “Wholesale currently makes up 12 percent of market share – the goal is to double that, at the least. KickStart will strengthen the market by getting more loan originators where they belong, at independent mortgage companies. We hope that our competitors will join us in this initiative to make the wholesale channel stronger.”

In a survey that NAMB distributed to approximately 200 loan originators around the country, roughly 70% of respondents reported an interest in owning their own shop. In the same survey, 44% of respondents indicated money as their main barrier to opening their own business, but 60% said they would be more inclined to take the chance if given seed money.

Grant requests are reviewed and approved by the KickStart Review Committee, which is comprised of three NAMB representatives, two independent mortgage brokers, and one representative from UWM. Other wholesale lenders that sponsor up to $500,000 toward the program are invited to have an individual from their organization sit on the committee.

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Lender Launches 1% Down Program

United Wholesale Mortgage (UWM) is now one of the first wholesale mortgage lenders in the country to offer a conventional 1% down program to mortgage brokers. UWM will provide eligible homebuyers with a 2% lender-paid down payment that gives consumers a 3% equity boost at closing.

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“The 1% down program we’re introducing is a new alternative to the 3% down programs that already exist,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “It’s a conventional loan that is designed for people with a strong credit payment history who want to keep as much money in their wallet as possible when buying a home. By introducing this conventional 1% down program to the wholesale space, we’re equipping mortgage brokers with a distinct competitive advantage in the market and a new way to help borrowers realize homeownership.”

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This UWM program is available to homebuyers in all 50 states with a minimum FICO score of 700 and a maximum debt-to-income ratio of 43%. UWM is one of the first wholesale lenders in the U.S. offering a 1% down-payment option in the form of a conventional loan, as opposed to a government-backed mortgage.

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Lender Launches New Jumbo Product

United Wholesale Mortgage (UWM), the nation’s No. 1 wholesale mortgage lender, has launched a new Jumbo Elite program that will enable mortgage brokers to offer their borrowers one of the easiest Jumbo processes along with highly competitive rates. Rates associated with the Jumbo Elite program offer brokers significantly improved pricing compared to the industry average.

“In such a competitive market, brokers can now look forward to offering their clients extremely competitive jumbo pricing that levels the playing field with larger banks” said Mat Ishbia, president and CEO of UWM. “We’ve really upped the ante for brokers in the jumbo lending space.  Brokers can now attract more Jumbo clients with incredible pricing and the industry’s fastest turn times.”

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The Jumbo Elite program’s simplified process will make brokers more attractive to savvy Jumbo borrowers throughout the country. Brokers will enjoy transparent guidelines and direct communication with their underwriter throughout the entire loan process.

Highlights of UWM’s Jumbo Elite program include:

>> Loan amounts up to $2 million

>> Exclusive rate incentives for borrowers with 740+ FICO

>> Eligible for primary and second homes

>> ARM and fixed-rate options available

>> Closings in 25 days or less

To learn more about Jumbo Elite and other Jumbo programs that UWM offers, visit uwm.com.

Lenders Need To Get This Right

Too often lenders worry more about the process and not enough about their customer. Good lenders offer great customer service. For example, United Wholesale Mortgage (UWM), the country’s No. 1 wholesale mortgage lender, has announced the creation of its Pronto team, a solutions-focused super-helpdesk aimed at providing the fastest and most streamlined client service in the industry.

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“Delivering exceptional client service is the backbone of our company,” said Mat Ishbia, president and CEO of UWM. “We are confident that our Pronto Team will set the gold standard for service industrywide.”

Pronto is a client service supergroup that is staffed with experts in every mortgage discipline to support UWM’s front line teams of account executives and underwriters. Comprised of experts in underwriting, closing, secondary marketing, AUS and closing, Pronto is on-call for brokers when additional help is needed in any facet of the loan process.

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UWM has launched a multimedia “We Have Pronto” campaign to illustrate Pronto and the major advantages it offers its nationwide network of independent mortgage brokers. In a recently released video, UWM compares the make-up of its Pronto team to a Rock n’ Roll Supergroup “where they’ve taken the best musicians from the greatest bands and put them together on one stage.”

Pronto gives brokers access to constant support and ensures that clients’ tough questions get answered, tricky circumstances get resolved, and high expectations are met in a timely manner.

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Lender Looks To Streamline Closings

United Wholesale Mortgage (UWM), one of the nation’s largest and fastest-growing wholesale lenders, has announced the release of UClose, an industry-leading tool that will allow mortgage brokers to close their loans within an hour of receiving their clear to close.

This exclusive online tool will revolutionize the way brokers and correspondents close loans, as they will be taking control of the closing process, generating closing documents and scheduling the closing directly with their title company.

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“UClose will give brokers complete control over the closing process, enabling them to take borrowers from clear-to-close to closing in just six clicks,” said Mat Ishbia, president and CEO of United Wholesale Mortgage. “It’s very important for realtors and borrowers to get to the closing table as quickly as possible, especially in a purchase market. We’ve created UClose so our brokers can get their clients to the closing table faster and more efficient than any other lender, and will always be the top choice of realtors.”

UClose was built strategically to comply with the upcoming TILA-RESPA Integrated Disclosure Rule (TRID), offering an even stronger advantage for brokers and correspondents when TRID goes into effect in October.

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Recognized for its efforts, UWM was awarded the 2014 Online Originator Award by Mortgage Technology magazine. The launch of UClose continues UWM’s consistent push to deliver innovative, value-added technology to its partners.  This latest tool follows the January release of UWM’s custom loan origination system, EASE (Easiest Application System Ever), and the enhancement of UTrack, which enables brokers and correspondents to provide borrowers and real estate agents with real-time access to track their purchase and refinance loans from submission through closing.

“UWM is committed to developing cutting-edge technology to make the loan closing process faster, easier and more efficient for brokers and correspondents,” Ishbia said.

Interested parties can learn more about UWM’s UClose program by contacting the company at 800-981-8898 or by visiting www.uwm.com.

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