UWM Enhances Its Safe Check Program

United Wholesale Mortgage (UWM) said Thursday it has enhanced its Safe Check program in another effort to streamline the loan approval process.

Safe Check, launched in October 2022, provides loan officers more certainty and confidence to pull valid pricing, UWM said.

With the enhancement announced Thursday, Safe Check now allows lending officers to run a single or tri-merge soft credit check to pre-qualify borrowers. The new tri-merge option, available for a flat rate of $23, provides the FICO score accuracy of a hard credit report, while protecting both the lending officer and the borrower from credit trigger lead solicitations, UWM said.

Lending officers can also combine Safe Check with UWM’s BOLT underwriting technology, allowing them to obtain an initial approval in minutes and gather documents before ordering a full credit report for when the loan is ready to be submitted to underwriting, the company said.

The announcement of the Safe Check enhancement follows last week’s launch of UWM’s Control Your Price, which gives brokers access to 150 basis points to use when and where they need it. 

UWM also recently announced a credit solution that allows independent mortgage brokers to order hard credit reports for UWM loans for a flat fee of $37.35, combating the recent significant increases in the cost of running credit reports.

Safe Check and Control Your Price joined several programs UWM has introduced since August of last year, when it first announced its “Game On” pricing that dropped rates across the board by 50-100 basis points.

That was followed later in August by temporary rate buydowns, which were then expanded in November.