HOT THIS WEEK
TRAC Enhancement
Starting April 17, when you select TRAC (Title Review and Closing) on a loan, UWM will apply a pricing incentive based on the loan amount. And rather than an LLPA, a $1,600 TRAC fee will now be applied at closing.
Underwriting Fee
Beginning April 15, UWM’s Underwriting fee will increase by $85 (VA IRRRLs and FHA Streamlines excluded).
Jumbo – Green Updates
Effective April 19, mixed use properties are unacceptable on Jumbo – Green loans.
Standalone HELOC – Yellow Updates
For loan applications starting April 12, single bureau credit pulls will be limited to using Experian for Standalone HELOC – Yellow loans.
Disclosures Settings
All Disclosure Settings that are set and saved by main account owners in EASE will now apply to their breakout accounts; breakout account administrators will no longer have access to edit Disclosure Settings. Branch accounts will maintain their current access and branch account administrators can still edit Disclosure Settings.
Manufactured Homes Guideline Update
Freddie Mac now allows for either the HUD Data Plate or the HUD Cert Label to be present and legible on existing manufactured homes. New construction manufactured homes still require both to be present and legible.
Reach out to your UWM Account Executive for more information. Information is subject to change. Certain restrictions apply. Subject to borrower approval.
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