Enjoy access to a free NMLS renewal class when you attend an in-person event.
United Wholesale Mortgage (UWM) is driving a new streamlined approach in the wholesale mortgage industry, introducing new technology that enables mortgage brokers to receive automated income verification for borrowers and allows them to avoid the hassle of obtaining hard copies of W-2 forms, 30-day paystubs and other documents needed for loan approval.
“Our new automated income verification tool makes the loan process easier and faster for borrowers, more efficient for mortgage brokers, and more accurate for our team at UWM,” said Mat Ishbia, president and CEO of UWM. “The verification process will save time and make the loan submission process even smoother.”
UWM’s automated income verification tool enables borrowers and brokers to “go doc-less” as they navigate the loan process, allowing brokers to submit applications without waiting for supporting income documents from borrowers. The tool applies to all of UWM’s conventional products and is available for purchases and refinances. Currently applicable solely to W-2 borrowers, future phases of automated income verification will be made available to many self-employed borrowers.
"UWM has done a lot to speed up my workflow, but this e-sign and submit process is truly revolutionary,” said Gloria Murillo, a processing manager at Sindeo Inc., a San Francisco-based mortgage broker. “What used to take days, I can now get done in minutes.”