United Wholesale Mortgage (UWM) has announced that it rolled out UWM Track, a product that assists brokers in providing current status on loans to real estate agents. The efficiency and visibility the solution offers eliminates communication issues and facilitates the broker’s ability to forge stronger relationships with realtors, thus increasing business.
“UWM is constantly looking for ways to make our brokers more successful. In 2013, we saw the early beginnings of an uptick in the purchase market and started developing UWM Track,” said Mat Ishbia, president at United Wholesale Mortgage. “One of the ways brokers can grow their business in a purchase market is to establish sound relationships with realtors. The idea behind UWM Track is to keep realtors apprised as to what stage the loan is in so they know the deal is progressing and can keep their buyer informed. This visibility that UWM Track establishes is another arsenal of tools we offer our brokers. UWM Track makes it more attractive for real estate agents to work with brokers who do business with us.”
UWM Track works by brokers logging into UWM’s broker portal—EASE (Easiest Application System Ever), accessing the loan in their pipeline, and clicking on the UWM Track button, which sends an e-mail to the agent containing a secure link to the UWM Track log-in page. Once in UWM Track, the agent is able to view real-time status on their buyer’s loan. The solution provides real estate agents with detailed information on the loan such as when it was submitted to underwriting, conditions reviewed and cleared, loan approval, the closing schedule, when prep and closing documents were sent to the title company, and finally the completion of funding.
UWM Track avoids a potential cat and mouse communication game and the latency of receiving and providing status updates, which ultimately translates to delivering better service.