Game-Changing Technology Earns United Wholesale Mortgage a Spot on the HousingWire 2016 HW TECH100™ List

04 Mar, 2016, 18:11 ET from United Wholesale Mortgage

TROY, Mich., March 4, 2016 /PRNewswire/ -- United Wholesale Mortgage (UWM), the No. 1 wholesale lender in the nation, launched a series of innovative technologies over the past 12 months that enhanced the capability of mortgage brokers to excel in the competitive mortgage industry, and earned the lender a spot on HousingWire's 2016 HW TECH100 list, which highlights the housing economy's top 100 technology innovators.

UWM made waves throughout the wholesale mortgage industry by consistently introducing or strengthening innovative proprietary technology that boosted business for mortgage brokers throughout the country. One of the most notable developments came in the form of UClose, an online closing tool that UWM built to put brokers in control of the entire closing process – allowing them to prepare closing documents and go from clear-to-close to closing in minutes. UWM officially launched UClose in August 2015, and saw broker usage of the tool increase by nearly 120% from August to November.

By being extremely proactive in developing the TRID-compliant UClose technology in advance of TRID regulations, UWM was able to enjoy a clear competitive advantage – exceeding $3.3 billion during the fourth quarter of 2015 and closings loans faster after TRID went into place, reducing the time brokers and consumers spend waiting to close their loans. Closing TRID loans in an average of 21 days, the UClose technology allowed UWM to grow its business by nearly 13% in the fourth quarter of 2015 – one of only two wholesale lenders nationally to increase volume, and the only lender to go up by a double-figure percentage.

"In an era where technology is increasingly becoming the key business differentiator, we're investing a lot of resources into being the profound leader in the industry," said Mat Ishbia, president and CEO of UWM. "Our technology team does an amazing job innovating best-in-class technology and tools to effectively ease the lending process for mortgage brokers and their clients. It's great to have our contributions to the industry recognized by HousingWire."

UWM's technology solutions include its loan origination system, EASE, which launched in January 2015. EASE provides many customizations for UWM's broker and correspondent partners – including drag-and-drop technology, e-sign capability, a proprietary product and pricing engine (Easy Qualifier), pipeline alerts, and an automated CD Tracker, among other features.

To learn more about UWM's diverse and innovative product mix, visit www.uwm.com.

About United Wholesale Mortgage
Headquartered in Troy, Michigan, United Wholesale Mortgage (UWM) is the #1 wholesale lender in the nation. UWM underwrites and provides closing documentation for residential mortgage loans originated by mortgage brokers, small banks, local credit unions and correspondents. UWM provides unparalleled service with its deep understanding of the mortgage process using its talented team of account executives and underwriters, who have years of experience with intricate knowledge in wholesale. UWM's positive teamwork and dedication to exceptional client service has resulted in continued success and growth that has spawned expansion. For more information, visit www.uwm.com or call (800) 981-8898. NMLS #3038.

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SOURCE United Wholesale Mortgage



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