Skip to main content

UWM Significantly Reduces Its Rates and Pricing

Jan 08, 2019
After airing in numerous markets nationally, FindAMortgageBroker.com had in excess of 75,000 site visitors in the first 48 hours

 
UWM has been consistently competitive in terms of rates, regularly ranking near the top of most rate comparisons, but was recognized by Mortgage Brokers more for its fast and easy processes than offering the best pricing. Now, UWM’s rate sheet is expected to outshine all of its wholesale competitors, in addition to continuing to set the gold standard for service, process, technology and partnership tools.
 
“Perception has always been that a lender can’t deliver it all–the best service, great technology, a true partnership, and have the best pricing too–but now they can have it all,” said Mat Ishbia, President and Chief Executive Officer of UWM. “We’ve shattered expectations. If a Mortgage Broker has a borrower with a 640+ FICO, it should be a UWM loan.”
 
UWM has removed all state adjustments and many Loan Level Price Adjustments (LLPA), as well, offering the best pricing on every loan with a 640 FICO and above. The major pricing improvement follows other recent pricing initiatives that UWM has brought to market, including its Jumbo Bank Buster program and its lower Borrower-Paid MI rates.
 
"It’s great to see one of NAMB's partners working hard for the Mortgage Broker channel to put more power into the hands of Brokers via product enhancements and pricing," said NAMB President-Elect Rocke Andrews, VP/Branch Manager of NOVA Home Loans in Tucson, Ariz. "UWM has been committed to NAMB to help empower our members so they can put more borrowers in homes."
 
UWM finished 2018 with $41.5 billion in total loan volume, an all-time high for the company, making up nearly a quarter of the entire wholesale industry’s market share. That production represents a 40 percent year-over-year growth. Additionally, UWM is ranked as the top non-bank purchase lender in the country and ranks fourth overall among the top-producing mortgage lenders, overall, in America.

 
About the author
Published
Jan 08, 2019
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024