As your lending partner, we realize how important it is for you to get timely appraisals on your borrowers’ homes. In response to the recent challenges with appraisals, we’ve taken significant steps to provide solutions.
We are committed to keeping your business moving forward and are making every effort to help you minimize appraisal challenges.
To help alleviate delays please ensure you are always using the AMC assigned on your loan:
- For all brokered loans, UWM will always assign an AMC once a product is selected for the file in EASE. The Assigned AMC will also be found under the Appraisal Fee line on the EASE fee screen. If the assigned AMC is not used, a new appraisal will be required from the assigned AMC.
If you are experiencing any issues with your assigned AMC please reach out to your Account Executive for assistance.
- UWM is accepting appraisal transfers on all eligible UWM loans.
- UWM has imposed a $125-per-appraisal profit cap on our UWM-approved AMCs, which will allow for more money to go to the highest-quality appraisers.
- UWM will auto-populate the suggested cost of the appraisal on the appraisal fees screen in EASE. (Please note: Any increase outside of the suggested fee will be the broker’s responsibility to update and disclose to the borrower.)
Together, these additional solutions will help ensure your appraisals move faster and are completed by high-quality appraisers.
In the meantime, please note that UWM’s Appraisal Promise will be paused temporarily.
Feel free to reach out to your AE with any questions.
Information is subject to change. Certain restrictions apply. Subject to borrower approval.