United Wholesale Mortgage (UWM) has removed loan-level pricing adjustments (LLPAs) on government loans for borrowers with FICO scores above 600, promoting affordability and competitive offerings.
This initiative by UWM aims to improve pricing by up to 150 basis points for borrowers usually subjected to higher LLPAs, enhancing their buying power significantly.
In the past quarter, UWM originated $39.5 billion in mortgages, showing an upward trend, with government loans making up 41% of their total volume.
UWM has become the second-largest U.S. producer of government loans, indicating a strategic pivot towards government-backed financing, reflecting a 39.5% year-over-year increase in loan production.
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