United Wholesale Mortgage launches Prime Jumbo, helping mortgage brokers compete with big banks
New product offers LTV up to 89.99% and no Mortgage Insurance required
Pontiac, MI, March 17, 2021 – United Wholesale Mortgage, (UWM), the #1 wholesale and purchase lender in America, today added its new product, Prime Jumbo to rate sheets, providing independent mortgage brokers with a competitive edge over banks and retail lenders.
Prime Jumbo offers competitive rates, simplified guidelines and gives brokers the ability to run DU for approved eligibility and fast closing on loans up to $2M with an LTV up to 89.99%. It is available on purchases, rate/term refinances, and cash out as well as on primary, secondary residences and investment properties.
“We’re excited about the launch of Prime Jumbo and the competitive edge it’s giving brokers around the country,” said Mat Ishbia, president and CEO of UWM. “Traditionally, banks offer the more highly desired jumbo products but this product levels the playing field for brokers to get their jumbo borrowers into their dream homes or refinance into a lower rate.”
UWM previously offered two jumbo products, High Balance Nationwide and Jumbo Bank Buster, but removed both from rate sheets in March 2020 due to the COVID-19 pandemic. Prime Jumbo combines the best of both products with its competitive pricing to more borrowers and quick turn times.
As the second largest lender in America, UWM continues to lead the industry by offering competitive products to all borrowers through independent mortgage brokers. Mortgage brokers who are interested in working with UWM can get more information at www.UWM.com.