To keep refinances rolling in, United Wholesale Mortgage (UWM) has launched KEEP, a program utilizing AI to send borrowers pre-validated refinance opportunities as soon as they may obtain meaningful savings on their monthly payments. Instead of cold-calling or emailing every borrower in its database, UWM has streamlined the process for identifying borrowers best positioned to refinance.
In the press release announcing KEEP, UWM explains that when a refinance market hits, one of the biggest challenges loan originators face is staying in front of past clients while competing with the substantial budgets and marketing tactics of large banks and retail lenders. KEEP is designed to help originators retain former clients by helping originators solicit those clients more quickly and efficiently.
“The refi boom is here, and we know there are millions of borrowers who will benefit from a refinance right now,” said UWM CEO Mat Ishbia. “At UWM, we’re doing everything we can to help independent mortgage brokers across the country retain the clients they’ve worked so hard to build trust with, especially at a time when retail competitors and large servicers are intensely working to solicit them.”
The KEEP system regularly checks and validates borrower data on closed loans to identify those borrowers who are eligible for impactful savings on their monthly mortgage payments. Once the system identifies such borrowers, the KEEP system automatically communicates those savings to the borrower with an email that includes a link to an application.
If borrowers have specific questions regarding rates or loan terms, they will be connected with their mortgage broker for advisement.
“KEEP’s proprietary technology will create the easiest refi process ever — providing opportunity to the broker and significant savings to the borrower,” Ishbia continued. “It gives brokers the competitive edge they need to succeed in this market and further solidifies why the wholesale channel is the best place for consumers to get a mortgage and loan originators to work.”
