United Wholesale Mortgage (UWM), the nation’s top mortgage lender, has unveiled six AI-powered tools and enhancements built for independent mortgage brokers and also announced goals it is setting its sights on for the next three years to come.
On that note, within the next 36 months, UWM Chairman, President, and CEO Mat Ishbia said the company aims to:
- Promote 4,500 team members, which represents half of UWM’s current workforce;
- Double its business by doing $280 billion in production;
- Increase broker market share to 33% from the current 27.8%; and
- Achieve a service score of 90% of all loans from brokers and borrowers.
And, meanwhile, the new and enhanced tools UWM announced today are designed to simplify brokers’ workflow, enhance their client relationships, and allow them to scale their businesses faster.
The six tools include:
1. Lead Pipeline, which targets improvements in managing client relationships and gaining repeat business. Mortgage brokers can use the tool to stay connected with past borrowers through a series of mortgage activity-related alerts, such as when a client lists their house for sale or has their credit pulled for a mortgage.
Brokers will also be able to use Lead Pipeline to connect with new leads and past clients by sending emails and texts through a dedicated phone number, with the help of AI Smart Write tech that customizes messages to fit client communication.
2. Action IQ, which serves as a notification center for daily tasks, consolidating actions from Lead Pipeline, texts, and account settings that require a mortgage broker's attention. Action IQ is designed to help brokers stay informed and ensure they have the most updated info on which to act, as the name suggests.
3. Easy Qualifier redesign aims to offer a faster, easier way for mortgage brokers to price new loans and manage existing scenarios. A new search function allows brokers to look up scenarios by name, loan type, loan purpose, and other parameters. When creating new scenarios, brokers will see only fields relevant to selected products, eliminating having to enter unnecessary information and making the quote process quicker.
Brokers will also be able to create comparison breakdowns and present up to three different products and interest rates, which is designed to allow them to walk borrowers through various options to find the best fit.
4. Loan Pipeline enhancements include a customizable pipeline built to provide better flexibility to match individual workflows and preferences. The system allows users to filter and replace views, and a new preview screen for each loan gives brokers key info without having to open each file.
5. Contacts Pipeline helps brokers access and manage contact information for all their past UWM clients, allowing them to add partners and clients that weren’t originated with UWM. Brokers will also be able to send marketing campaigns to a specific list of contacts directly from the pipeline.
6. ChatUWM Assist gives brokers AI-generated responses with information and details specific to the page they are on. The feature aims to provide faster access to answers brokers are looking for, while also being able to provide broader information if needed. Brokers will still have access to info on guidelines, matrices, UWM tools, and more from the same window.
