Experiences Explosive Growth  and Product Expansion

BIRMINGHAM, Mich., January 17, 2012 – United Wholesale Mortgage (UWM), a national wholesale mortgage lender operating in 47 states, announced that in 2011 it significantly expanded its business in all functional areas, hired top executives, increased its workforce, implemented new technology and launched several new products.  UWM plans to continue with its aggressive growth strategy as they remain focused on originating high quality loans in excess of $3.5 billion in 2012 and upwards of $8 billion by 2014.

“2011 was a phenomenal year for UWM in terms of our growth and the impressive talent we acquired,” said Mat Ishbia, president of UWM.  “Everything that we do revolves around providing top-notch service to our brokers and correspondents.  Brokers can utilize our industry-leading technology, which helps them gain more market share in their territory, and in turn significantly increases our volume.  We have earned a reputation for offering the highest quality of customer service, exceptional products and the ease to close loans quickly.  As we move into 2012, we are looking to take our business to the next level by offering a full spectrum of mortgage products and warehouse lines to our Broker network.”

Notable UWM products released in 2011 include:

• Introduced a rare $2.5 million dollar jumbo loan product, dubbed “The Big & Easy”
• Among one of the first lenders to implement and roll out the changes to HARP 2.0
• Launched the Pay Advantage loan – a Conventional product up to 97% LTV with no monthly M.I.
• One of the few Lenders to offer Conventional Split M.I. products up to 97% LTV
• Instant M.I. Certification on Conventional loans
• The Patriot Plus VA IRRL

Notable UWM accomplishments in 2011 include:

• Implemented EQ (Easy Qualifier), a proprietary product engine, which allows Brokers to qualify and price a borrower on up to 10 products at once 
• Named Mortgage Technology Magazine’s Top 25 Tech-Savvy Lenders
• Completely paperless process that embraces e-consent for borrowers
• Hired hundreds of sales, operations and executive management staff
• Launched an outside sales force to complement our inside division 

Company officials at UWM say they plan to double its number of employees and move to a new 100,000 square foot facility in the next 12 months.

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.uwm.com or call 800-981-8898. 

BIRMINGHAM, Mich., December 20, 2011 – United Wholesale Mortgage (UWM), a national wholesale mortgage lender operating in 47 states, announced today that it has successfully implemented the government’s enhancements to the Home Affordable Refinance Program (HARP 2.0) that went into effect December 1, 2011.

HARP is a federal government program designed to help millions of underwater homeowners refinance into a fixed loan with a lower monthly payment.  The release of HARP was originally announced in March of 2009, but as of August 31, 2011 only 894,000 borrowers have refinanced through the original HARP plan.  The HARP 2.0 version, however, is expected to significantly increase the number of eligible participants into the program with the aggressive changes to make the program more viable for both borrowers and lenders.

“Access to HARP 2.0 provides much needed relief to underwater borrowers who have been making their payments but unable to refinance due to lack of equity in their homes,” said Mat Ishbia, president of United Wholesale Mortgage. “The recent change to HARP is something we wanted to make available to our Broker Network so they may assist borrowers that they otherwise could not have helped.  There are very few lenders that have implemented HARP 2.0 thus far, and we don’t expect to see immediate adoption because of the technology, staffing and liquidity implications.  At UWM, we are committed to offering our customers the products they need to satisfy marketplace demands and grow their business.”

UWM added HARP 2.0 to its broker portal, EASE (Easiest Application System Ever), where brokers can price and determine eligibility via EQ (Easy Qualifier).  UWM’s robust technology infrastructure was a big part of why they were able to bring HARP 2.0 to market so quickly after it was announced, the company says.

The primary changes to HARP are the reduction of pricing adjustments on all HARP loans which allows borrowers to save more money than they could have before, removing the 125% CLTV restriction, and the ability to not require appraisals on many loans.  Notable is that Fannie Mae and Fannie Mae’s Desktop Underwriter® (DU) system will not be updated to accept unlimited loan-to-value applications until March of 2012, and UWM will roll out that enhancement once Fannie Mae’s system is ready.

Company officials at UWM say they are dedicated to helping homeowners and brokers across the country by swiftly supporting the revised, government-backed Home Affordable Refinance Program.  Interested parties can learn more about UWM’s HARP 2.0 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.uwm.com or call 800-981-8898. 

BIRMINGHAM, Mich., December 6, 2011 – 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%. 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 have 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 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.uwm.com or call 800-981-8898. 

By Kristina Bennett, Business Manager, United Wholesale Mortgage

Save Time, Money and be More Successful Utilizing Free Lender Technologies

Purchasing high-end LOS software, electronic signature programs or other important mortgage technology tools can become costly and quite involved for brokers to absorb.  However, there are a number of wholesalers that offer broker-oriented technology tools for free. If you are an originator or a broker owner, you’ll want to partner with lenders that offer you free tech-savvy programs and tools. It isn’t necessary to buy applications, pay for software licenses, incur service fees and other costs when you can lean on a lender’s technology applications to eliminate additional overhead and gain efficiencies that result in greater success.

To maximize your success and efficiency, there are a number of things to consider before developing a relationship with a lender. Whether you’re an independent originator, or you own a broker business, you’ll find the below checklist valuable to assist you in navigating through the different bells and whistles lenders provide. The following tools will ease your job as an originator, processor or broker owner:

Product Qualifying tools

This is essential to allow a broker to input minimal information from the borrower to determine specific products they qualify for. As a broker, this tool reveals product options and the associated payments for fixed rate, arms, government or conventional loans, with or without monthly mortgage insurance to cover with your borrower. These tools can also show you what your compensation is with the lender.

E-Sign or E-Consent Technology

With more borrowers on the go and having limited time to actually sit down and complete an application, E-Sign technology is becoming priceless in a fast-paced world. Some lenders may also allow borrowers to E-Consent the TIL. This saves time and allows the originator to collect money for the appraisal right away.

Accessibility to scan, upload and track your loan package and conditions online

There is no reason to waste time with lenders that require a package to be mailed, or even worse, a package to be faxed. If lenders give you the ability to electronically upload a package, it becomes much easier to see exactly what is attached and track your documents. It also alleviates playing the blame game of if or when a package or conditions were actually submitted.    

Robust LOS

Some lenders allow their brokers to log in to a secure web portal and take the entire application online.  This is a huge benefit — not only because of the expense that most origination software systems cost, but because it is not a thick-client application, which must be downloaded and installed on a broker’s desktop. Instead, the 1003 is taken via a website, thus enabling brokers to take a borrower’s application from any location, on any computer, laptop, smart phone or iPad that has internet access.

The more tools you can utilize from a lender the better. You need to be focused on selling and working with your borrowers, not spending time and money on tools that your lender could be offering you. Make sure you align with lenders that complement your abilities with technology. 

Brokers should also look for additional lender offerings available via their websites that considerably cut down your application time to clear and close. Some key functions to consider include:

Online Case Number accessibly

Working with a lender that provides an online FHA Case Number system which ensures you can speak with a live person to order your FHA Case Number within 48 hours is crucial. As we all know, the originator that pulls the case number first wins. As a broker, once you have a Case Number ordered, it means you have a commitment from the borrower and control to order the appraisal and move forward with the loan.

Is it easy to order the AMC appraisal with your current lender?

It should be as easy to log into your pipeline via the lender’s website. Typically, a link resides within the broker’s pipeline that swiftly takes them straight to the AMC’s site to order an appraisal. Service-oriented lenders make it as convenient as possible to order appraisals and secure a commitment with their AMC for standard 4-7 day turn times. Another feature that saves you and your processors time is an AMC that emails you and your lender the appraisal the minute it is complete, thus avoiding lag time.


Time is money… we all know that

Another benefit that can save you and your processor hours is an Automated Findings Help Desk. It can be nearly impossible to know what the coded errors on automated DU findings mean. This could take hours to figure out just to get your approved findings. If a lender offers help interpreting DU findings, it means they have specialists who know exactly what each and every error is, and these errors can be fixed within minutes. This is a huge benefit if your lender provides free DU assistance.

Length of time in the wholesale business

There are wholesale lenders in operation today that have either closed their doors and started a new company, or existing retail lenders that have re-started wholesale channels. As a broker, when you’re evaluating lenders to partner with, it’s important to take into account the length of time they have been in the wholesale business. Some retail and start-up lenders that have recently jumped back into the wholesale arena are light in their technology offerings and processes. From a business and technology perspective, it behooves you to thoroughly understand the type and depth of broker-facing technology they offer.

In summation, there are important technology-based features, benefits, services and more that will help you be more successful and enjoy a competitive advantage. If the lender’s you are currently working with do not offer you these types of technology tools, then it’s time to research lenders that do. In a cut-throat lending landscape where is it is paramount to close purchases and refinances as quickly as possible, it’s imperative to be aligned with lenders that offer these type of broker-facing technologies for free. 

“United Wholesale Mortgage was built with a strong inside sales force as its foundation. Our outside account executives compliment this inside team and together will continue to elevate UWM as a top wholesale lender,” said Mathew Ishbia, president of United Wholesale Mortgage.

Waller joins UWM’s rapidly growing team with more than 25 years of experience in the mortgage industry, specifically in sales, marketing, division management and operations. Prior to InterFirst Wholesale Lending being sold to CitiMortgage, Inc., he spent 10 years as their Senior Vice President and Division Manager for the Northwest and Northeast Divisions.

In 2005, Waller was a member of the leadership team at ABN AMRO Mortgage, Inc. (former parent company of InterFirst Wholesale Lending) winning that year’s J.D. Power and Associates “Highest in Customer Satisfaction in Primary Mortgage Sales” Award. As Senior Vice President at CitiMortgage Inc., Waller led the Midwest Division for two years after they acquired InterFirst Wholesale Lending in 2007.

Having earned his MBA from Madison University in Gulfport, MS, Waller began his mortgage career with Mortgage Guaranty Insurance Corporation (MGIC) in Milwaukee, WI. In his 16 years with MGIC, Waller was promoted to Senior Vice President & Contract Underwriting/Field Sales. As Senior Vice President, he directed contract underwriting/risk management of approximately 280,000 loans annually.

Waller has stated that, “Our inside account executives have an intense commitment to customer service while offering the most advanced website, technology and product knowledge. It’s exciting to see our outside sales team continue to heighten United Wholesale Mortgage’s current growth and success.”

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.uwm.com or call 800-981-8898. 

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BIRMINGHAM, Mich., Nov. 15, 2011 — United Wholesale Mortgage (UWM), a national wholesale mortgage lender operating in 47 states, announced that it has implemented a proprietary decisioning solution within its broker portal that was custom developed in-house. The new functionality returns accurate pricing and product eligibility on up to ten programs at once with the click of a mouse.

“Simply put, the addition of Easy Qualifier (EQ) to our already robust broker portal makes it easier and quicker for our broker community to quickly identify programs, price loans and offer the lowest payment options while talking with borrowers,” said Mat Ishbia, president of United Wholesale Mortgage. “We want to make it as easy as possible to do business with us and technology is key to providing excellence in service. Using EQ, our brokers are able to confidently say ‘yes’ to borrowers at the point of first contact and close the loan.”

EQ is integrated with EASE (Easiest Application System Ever), UWM’s custom broker portal, which provides brokers with a number of Web-based and pipeline management tools. EASE contains an automated pricing engine that brokers rely on for accurate pricing on eligible loans. The portal also allows for rate-locks, offers real-time status on conditions, enables ease of communication with underwriters and provides visibility over the entire pipeline from submission to funding. In addition, EASE allows brokers to instantly order FHA case numbers and conveniently generate a UWM TIL disclosure.

EQ and EASE work together to help brokers close more loans in a shorter timeframe and with greater accuracy. The portal’s functionality provides UWM’s brokers with a distinct competitive advantage over other originators in the market, which ultimately facilitates customer loyalty. UWM says their technology and mortgage tools increases its volume and pull-through rates, speeds up turn times, attracts top tier brokers and more.

Andy Brikho, Senior Loan Officer at C2 Financial Corporation, states: “UWM’s Easy Qualifier is an intuitive time saving tool that gets you immediate answers on products and pricing. It allows brokers to find the best program for my clients and saves precious broker time. Easy Qualifier is just another great tool from the best lender I do business with that always has the broker in mind.”

Key features of EQ include:

* Qualifies and prices borrowers live on up to 10 different programs at once
* Determines lowest payment options
* Compensation calculator that determines how much brokers will make on each loan
* GFE estimator that shows potential changes based on different loan compensation models
* Verification of loan parameters within UWM guidelines
* Returns accurate pricing and product eligibility
* Allows brokers to printout a borrower’s results page, detailing their options and how much they will save per option.

EQ and EASE are designed solely for use by brokers to make it easier for them to generate new business. Further, the broker portal seamlessly integrates with UWM’s back-office technologies to streamline broker communications and various internal processes.

UWM developed the bulk of its technology in-house to support and optimize their specific business model and workflow.  UWM strategically harnesses technology to make the lending process more efficient, transparent and cost effective.  Moreover, the lender’s broker portal, dubbed EASE (Easiest Application System Ever), provides the broker community with an arsenal of various technology tools to help make them more service-oriented and successful.

Recently, UWM added EQ (Easy Qualifier) to their site, which instantly and simultaneously qualifies borrowers on up to ten programs at once — with the click of a mouse.   EASE and EQ seamlessly integrate with UWM’s back-office loan processing and fulfillment platform.  UWM’s Web site automatically provides brokers with real-time visibility into loan status, disclosures, conditions sign off, pipeline management and more.

“We are a completely paperless mortgage banker that embraces e-signature capability for borrowers,” said Mat Ishbia, president of United Wholesale Mortgage.  “We do not accept paper files — only documents attached to the broker’s loan within their pipeline, and the same is true for conditions and appraisals.  When a loan is submitted through our paperless Xcelerator application, the setup department splits the documents into distinct sections — income, assets, credit report, application, disclosures, etc. for ease of paperless processing.”

Ishbia added: “It is truly an honor to have earned a spot on Mortgage Technology magazine’s Top 25 Tech-Savvy Lenders list. The utilization of technology has been the foundation for our success and enables us to deliver exceptional service, accuracy, consistent turn times, and loan quality, which has helped us grow at an enviable rate.  Brokers do business with us because our level of service enables them to efficiently close more loans. We’re one of the largest wholesale lenders in the country and that degree of success doesn’t happen unless you’re running a finely tuned operation.”

In order to make the Top 25 Tech-Savvy Lenders list, Mortgage Technology magazine requires that organizations set the bar high using a robust technology infrastructure that automates operations and customer service functions to create efficiencies for the retail, wholesale or consumer direct business channels.  The magazine’s annual list commends lenders that use technology to improve processes, provide exceptional customer service and significantly increase revenue.  In addition, to earn a spot on the list, lenders are evaluated on how they utilize technology in ways that are innovative and exemplary, producing marked business improvements.

United Wholesale Mortgage says it has leveraged its homegrown technology to facilitate the origination of more than two billion dollars in 2011, and lays claim to being a top ten FHA wholesale lender.

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.uwm.com or call (800) 981-8898.

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Yes! That’s what I said, free Marketing! If you have the time, which we all know you can spare an hour of your day to grow your market share and start marketing yourself, the biggest self-marketing tool that is gaining more popularity day by day is Blogging.

What is Blogging?  A blog (a blend of the term web log) is a type of website or part of a website. Blogs are usually maintained by an individual with regular entries of commentary, descriptions of events, or other material such as graphics or video.  Many blogs provide commentary or news on a particular subject. A typical blog combines text, images, and links and includes the ability to let readers leave comments in an interactive format. (Any time you use a definition that is not your own, it legally needs to be referenced.)

Now comes the best part, it’s FREE!  I know what you are saying.  “Maybe it is free; but what are they going to try to sell me and really do you think I can build a blog myself?”  Hosting sites will only run ads on the side of the main blog home page and they will not solicit you by phone, email or mail.  We have dozens of employees with beginner computer skills and they are able to follow the FREE step-by-step tutorials provided. So YES you can do it!  In addition, most hosting sites have FREE online support to assist you.

The most common question I get is, “What I do with my Blog once I have it set-up and running?” Well, you post, and post and re-post.  The more you post on your internet Blog, the more potential borrowers will find you.  Let’s face it almost everyone is on the web today and potential borrowers search the internet for the term “Mortgage” in a specific region to find an originator in their area.  If you are on the web and you’re blogging, they will find you!  The more you post and the more useful your information is that you provide, the better your chances are to increase being found by search engines and providing results to internet users.

Once you are comfortable with your blog, start video recording your messages to your consumers!  Video marketing is the fastest growing way to get your message to your followers.  You don’t need a fancy video camera.  Most phones have a simple video camera that you can use to record yourself; and in most cases, you can post it directly from your phone!  What better way to get into a realtor’s office than to offer them the opportunity to get their face and contact information out to the public through video blogging? To get your phone ringing, you might want to offer an incentive. You can start by leveraging small local businesses in your area. Most local businesses just want recognition and want their name to get out to targeted areas that will bring more business through their door.  Offer them a FREE video post of their product on your site or a coupon spot on your Blog for a week or two. Let them know you will send it out to your book of contacts and theirs as well. Accessing their contact list will open up a world of leads you have yet to discover!  Once you have the local business on your blog, get them to commit on a deeper level by asking them to sponsor a gift certificate for local realtors which also poses as a great give away for your realtors. Technology continues to grow every day and more and more people of all ages are using the internet to find what they need.  Imagine reaching thousands of potential clients at no cost.  The test is how much do you want to succeed?  Have you heard the famous quote by Albert Einstein, “Insanity is doing the same thing over and over again and expecting different results?” If you stick with the same old marketing tools that are not working now, how likely is it that they will work in the future?  If you start marketing yourself today by setting daily, weekly, and monthly goals of how many local businesses you can involve in your blog, you will certainly start seeing your local presence and your book of business grow!