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United Wholesale Mortgage (UWM) has announced that it has significantly enhanced its loan tracking technology called UTrack, which was redesigned specifically to allow borrowers and real estate agents to have real-time access to track their purchase and refinance loans. UTrack provides UWM’s brokers and correspondents with the ability to share a link with their clients to track loans as simply and quickly as tracking packages through the mail. UTrack displays where the loan is throughout the process, from submission to underwriting to closing, in a condensed, easy-to-understand manner. There are often misconceptions about the loan process and UTrack will help bring transparency to all parties involved. UWM says that UTrack is branded with the broker and correspondent partners’ information, so they can be the facilitator of loan status updates, instead of the wholesale lender.
“We believe communication is of the utmost importance in this industry and UTrack takes communication to the next level,” said Mat Ishbia, president and CEO of UWM. “When the borrower or real estate agent clicks on the UTrack link to follow their loan’s progress, they don’t see UWM anywhere. This tool was designed specifically with the broker in mind, so they are the hero and UWM remains invisible to the client. As a wholesale lender, we believe in empowering our brokers with technology enhancements and tools to grow their business.”
UTrack helps boost the client experience and build stronger relationships between borrowers, real estate agents and brokers. Its enhancements come on the heels of UWM’s redesigned loan origination system, EASE, which was launched earlier this year as an industry game-changer for brokers and correspondent partners.