UWM gave brokers big discounts to play with. It could be risky
Lawyers raised compliance questions regarding UWM’s âControl your Priceâ initiative. Meanwhile, other lenders want to copy it.
United Wholesale Mortgage
United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%
The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA… Read More »United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%
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UWM takes another big step to reduce prices
UWM said LOs can apply their own pricing enhancement to their borrowers with the 125 basis points it’s offering to brokers.
J.P. Morgan Mortgage expects to raise $410.4 million in mortgage-backed certificates
J.P. Morgan Mortgage Trust 2023-1 is preparing to issue some $410.4 million in mortgage-backed certificates backed by a pool of prime-quality, fixed-rate mortgages, mostly sourced from United Wholesale Mortgage. United Wholesale Mortgage accounts for the largest portion of originations, but at 25.1%, it doesn’t account for the majority of loans in the pool, according to … [Read more…]
New fees add to pain for mortgage lenders
Under new rules, cash-out refis, which many mortgage lenders still relied upon in 2022, will be more expensive and harder to get in 2023.
Nationâs Largest Wholesale Lender Now Offering Bank Statement Loans
What year is it? 2006? The nationâs largest wholesale mortgage lender, United Wholesale Mortgage, has just announced the availability of bank statement loans. Does this mean weâre headed down a familiar road of credit loosening, and a subsequent housing crash? At first glance, itâs reminiscent of the easy lending days seen in the early 2000s,… Read More »Nationâs Largest Wholesale Lender Now Offering Bank Statement Loans
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Nationâs Second Largest Mortgage Lender to Accept Bitcoin Because They Want to Be First
The nationâs second largest mortgage lender, United Wholesale Mortgage, has plans to accept bitcoin for mortgage payments. The Pontiac, Michigan-based companyâs CEO Mat Ishbia told Yahoo that scores of its customers hold crypto, so why not let them use it to pay the mortgage? As to why theyâd want to do that, itâs a bit… Read More »Nationâs Second Largest Mortgage Lender to Accept Bitcoin Because They Want to Be First
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2022 Conforming Loan Limit Jumps to $647,200
This morning, the 2022 conforming loan limits were officially announced by the FHFA, with the baseline limit hitting a whopping $647,200. Prior to this announcement, some mortgage lenders had already upped their maximum loan amounts in anticipation. Both PennyMac and United Wholesale Mortgage increased loan limits to $625,000 back in early October, knowing they’d be… Read More »2022 Conforming Loan Limit Jumps to $647,200
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UWM Offering No-Cost Appraisals on Home Purchase Loans
In an effort to make loan closings even faster, United Wholesale Mortgage (UWM) is offering an appraisal credit on home purchase loans submitted through March 31st, 2022. Often times, appraisals slow down whatâs already a lengthy mortgage process, a critical issue on time-sensitive transactions like home purchases. To motivate their mortgage broker partners, theyâre offering… Read More »UWM Offering No-Cost Appraisals on Home Purchase Loans
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Why It Could Be a Great Summer for Mortgage Rates
Itâs looking like it could be a really good summer for mortgage rates, after a very uncertain spring made it appear as if the best we had seen was gone forever. Now this isnât to say that mortgage rates will hit all-time record lows again, but the fact that theyâre slipping back to those levels,… Read More »Why It Could Be a Great Summer for Mortgage Rates
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