United Wholesale Mortgage

• Variety of Loan Types
• High Loan Balance Options Available
• Mortgage Refinance Options
• UWM Loan Administration
• Competitive Rates for Bad Credit
• Fast Loan Processing
• Helpful Marketing Tools for Lenders
• Helpful Tools for Borrowers

Variety of Loan Types

UWM offers funding and servicing for the following loan types:

• Fixed Rate Loan
• Adjustable Rate Mortgage Loan (ARM)
• FHA Loan
• VA Loan
• USDA Loan
• Jumbo Loan

UWM offers a variety of specialized conventional home loan options that serve a wide range of borrowers. Some of these products include a low down payment option for first-time homebuyers, high loan balance options, flexible amortization terms options, and more. 

It is important to note that some of these options also apply to FHA and VA loan products. However, just because UWM provides a variety of options, that does not guarantee that your broker will offer each loan type/product.

High Loan Balance Options Available

United Wholesale Mortgage offers loan amounts for both primary and secondary homes up to $726,525, funding purchases up to 90 percent LTV (loan-to-value ratio) and refinances up to 80 percent LTV. These high-balance loans require a minimum credit score of 680 with a 43 percent maximum DTI (debt-to-income ratio).

Such high loan balances with a 90:10 LTV can help lenders meet the needs of a wider array of customers.

Mortgage Refinance Options

UWM offers a variety of refinance options for its conventional, FHA, and VA loan products.

Conventional Loan Refinance

• HomeReady Refinance — refinance with limited equity
• RefiNow — for Fannie Mae-backed loans and low-income borrowers
• Home Possible Refinance — refinance with limited equity

FHA Loan Refinance

• FHA Streamline — refinance your FHA loan with no appraisal or AVM

VA Loan Refinance

• VA IRRRL — Veteran borrowers can refinance and get a lower interest rate on their existing VA loan.

To determine if refinancing is right for you, you should speak with your mortgage broker who will then look at the best refinancing options for your needs.

UWM Loan Administration

UWM doesn’t work with borrowers directly. Instead, borrowers will work with their lender or broker throughout the mortgage process.

However, borrowers can manage their UWM-serviced loan online through UWM loan servicing. To access your loan information, you will need to enter your loan number, or your last name and last four digits of your social security number (SSN). After you’ve provided this information you will be directed to UWM servicing, through which you can view your mortgage and make payments. There is even the option to set up automatic payments, if that is preferable.

You should be able to manage your mortgage and make payments directly through your lender, but UWM loan administration is available to you if you’d prefer to deal with your loan directly.

Competitive Rates for Bad Credit

In 2019, United Wholesale Mortgage rolled out a new threshold for borrowers with low credit scores, claiming to offer the best rates and pricing in America for those who do not have less-than-perfect credit. This claim is backed up by the notion from CEO Mat Ishbia that United Wholesale Mortgage is one of the very few lenders that will offer a home loan to those with with a low credit score, 640+ FICO.

This change makes it possible for more brokers and lenders to get approval of customers that are wanting a home loan, but have below average credit.

Fast Loan Processing 

United Wholesale Mortgage has a conventional loan turn around time of two days or less. FHA loans, Jumbo/Non-Agency loans, USDA loans, and VA loans also have a turn around time of two days. UWM averages 15 days or less from submission to CTC (clear to close). And United Wholesale Mortgage members get access to loan accelerator tools like Doc-Less, EASE Docs, and virtual e-closing.

United Wholesale Mortgage uses a service called Blink to help mortgage brokers communicate with its borrowers more effectively and complete initial portions of the mortgage process all online. Blink can be totally branded to any broker and borrowers will have access to the application 24/7.

Another service that United Wholesale Mortgage offers to ensure a speedy loan process is a service called UTrack. UTrack allows borrowers to see live updates in an online portal. This allows for more open communication and less confusion.

Helpful Marketing Tools for Lenders

United Wholesale Mortgage gives it's independent mortgage brokers and lenders a plethora of tools to help them attract new customers in addition to helping lenders price out different scenarios more easily. 

The company's marketing toolbox is a great resource that helps lenders and brokers attract new customers. The tool includes the following marketing materials:

• The tools to create customized fliers, videos, social media posts, and emails
• A downloadable monthly marketing calendar
• Client retention tools — helping customers keep in touch with past borrowers

In addition to these great tools, United wholesale Mortgage also provides a platform for lenders to easily create a purchase or refinance loan estimate using an advanced form. Lenders can price out scenarios and match borrowers with the right loan with Easy Qualifier as well as get the estimated market value of a prospect's property. This tool makes it easier for lenders to understand what the mortgage rates will look like for their customers in a more timely manner. Ease and speed for the lenders also makes for an easier and quicker process for it's customers.

UWM also participates in professional development events like conferences and expos to assist lenders in providing the best services to borrowers. This training helps lenders to make better use of the tools that are already available to them in their membership.

Helpful Tools for Borrowers

Borrowers visiting the United Wholesale Mortgage website can keep up with today's mortgage stats by viewing today's market data. They can also find new home listings and the agents who manage them. Borrowers should also be aware that United Wholesale Mortgage complies with Freddie Mac and Fannie Mae regulations. Freddie Mac and Fannie Mae is a government policy that helps lenders, such as United Wholesale Mortgage fund home loans to low-income and moderate-income individuals and families.

It should be noted as well that United Wholesale Mortgage is the #1 wholesale lender in the nation, as of 2020, when it comes to an FHA loan.

• Membership Required
• United Wholesale Mortgage Reviews

Membership Required

Unfortunately, many of the features discussed are available only to members of the United Wholesale Mortgage lender network.  In order to obtain a membership and enroll with a United Wholesale Mortgage login, you must be a professional broker, financial institution, or correspondent. The products and services are directly geared towards lenders serving their own borrowers.

United Wholesale Mortgage Reviews

From the United Wholesale Mortgage reviews on Best Company it is a bit difficult to tell if mortgage brokers are satisfied with their lending experience. Most of the United Wholesale Mortgage reviews highlight either a very positive or negative experience — most of United Wholesale Mortgage reviews are exclusively five star or one star reviews.

It should be noted that the amount of reviews on United Wholesale Mortgage's company profile are very limited. Due to the polarizing reviews it is recommended to call one of United Wholesale Mortgage's customer service reps in order to address any concerns that you may have.

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