UWM enters the HELOC space
Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market.
The Pontiac, Michigan-based lender has started to offer standalone and piggyback options, as fast-rising home values allow homeowners to tap the equity in their houses to pay debts, expenses or investments.
UWM’s products announced Wednesday are available on primary and second home loans, with loans up to $350,000, according to the company’s website. They are not applicable in Texas.