United Wholesale Mortgage (UWM) rolled out a new adjustable-rate mortgage (ARM) product for jumbo loans in an effort to provide brokers more options in a highly competitive mortgage origination market.

UWM’s Prime Jumbo Max pricing offers a seven- or 10-year ARM with a rate/term and cash-out refi for a maximum loan amount as much as $3 million, with a maximum loan-to-value ratio of 80% and minimum FICO score of 700, the wholesale lender said.

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