BIRMINGHAM, Mich. /eNewsChannels/ — United Wholesale Mortgage (UWM), a national wholesale mortgage lender operating in 47 states, announced today that it has a unique jumbo product with loan amounts up to $2.5 million and LTV’s up to 80 percent. This product is exclusive and has extremely competitive low fixed rates in the mid 4s along with multiple ARM options if the borrowers choose.
“Investors have been slow to embrace the return of jumbo loans over the past year as a result of the risk factor,” said Mat Ishbia, president of United Wholesale Mortgage. “We are one of the few lenders in the country that has the capability to underwrite, close and fund jumbo loans all under one roof. UWM has the ability to offer this program based on its exceptional reputation of originating the highest quality loans across the country.” Ishbia added: “Our quality of business is a direct result of our account executives working only with brokers that have proven to originate quality loans and our centralized team of underwriters ensuring that these loans will perform.”
UWM has dubbed the product “The Big and Easy” due to the size of the loan it can fund coupled with the straightforward, trouble-free process that UWM has established. UWM offers brokers a number of different tools to make them more successful. Among them are EASE (Easiest Application System Ever), its broker portal, and Easy Qualifier (EQ), its product and pricing engine. Further, the accessibility to UWM’s customer service staff and quick underwriting turn times attracts top tier brokers who produce high volumes of quality loans. The Big and Easy can be priced and underwritten using EASE and EQ.
The Big and Easy offers a variety of financing options that include a 30-year fixed, 15-year fixed, 10-year ARM and also a 5-year ARM. This program accepts FICO scores as low as 720. Eligible property types for The Big and Easy include primary residences, second homes, condominiums, PUDs (planned unit developments) and double units. Officials at UWM say it is the only true jumbo loan in the country that originators can close in two weeks or less and they expect UWMs volume to rise significantly within the next year.
Notably, in September UWM was named a Top 25 Tech-savvy lender by Mortgage Technology magazine and is currently one of the top wholesale lenders in the country. Details about The Big and Easy can be found by clicking here http://www.uwmco.com/the-big-easy-jumbo – or by calling 800-981-8898.
About United Wholesale Mortgage:
Headquartered in Birmingham, Michigan, United Wholesale Mortgage underwrites and provides closing documentation for residential mortgage loans originated by mortgage brokers, banks, credit unions and correspondents. UWM provides unparalleled service with its deep understanding of the mortgage process using its talented team of account executives, underwriters, closers and funders, who have years of experience with intricate knowledge in wholesale. UWM’s positive teamwork and dedication to exceptional customer service has resulted in continued success and growth that has spawned expansion. For more information, visit www.uwmco.com or call 800-981-8898.
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