Key facts
- United Wholesale Mortgage launched its Underwriting+ program on Wednesday.
- The program aims to streamline the loan process for independent mortgage brokers.
- Underwriters will handle both underwriting and additional processing responsibilities.
- UWM stated that thousands of loans were closed during a pilot of the program.
- Loans in the pilot averaged 8.3 days from submission to clear-to-close.
- Partners can use the program for three loans at no processing cost through Dec. 31.
United Wholesale Mortgage (UWM) on Wednesday introduced its Underwriting+ program, a new initiative aimed at simplifying the mortgage loan process for independent brokers. Traditionally, mortgage files are handled by multiple teams, involving various employees for underwriting, documentation, and borrower communication. UWM's Underwriting+ program centralizes more of these responsibilities with the underwriter who initially reviews the loan file.