United Wholesale Mortgage (UWM) has introduced a new pricing incentive, named 60bps for 60 Days, to help independent mortgage brokers stay competitive during the traditionally slow holiday season.
Mat Ishbia, CEO of UWM, noted that the company's pricing initiative reflects awareness of the slowing purchase market in Q4, as brokers take time off during the holidays.
The new incentive coincides with UWM's improved gain-on-sale margins, which rose to 118 basis points in Q3, indicating beneficial market conditions driving broker loan closings.
UWM's initiative includes waiving loan-level pricing adjustments on government loans for borrowers with a FICO score of 600 or more, reinforcing their commitment to competitive pricing.
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