"It also includes FHA Streamline refinances and VA Interest Rate Reduction Refinance Loans (IRRRLs), according to the company's website. The incentive is also available under the company's Control Your Price (CYP) program in which UWM gives brokers a pool of pricing basis points, specifically up to 125 bps, that can be applied to loans locked with the lender. The program, announced in 2023, allows brokers to use up to 40 bps on any single loan to adjust pricing."
"In his 3 Points video for January, UWM CEO Mat Ishbia said that the mortgage broker market share is rising as LOS move from the retail to wholesale channel to complete faster, cheaper loan closings. Market share continues to grow, continues to rise up year after year after year. It looks like it might finish closer to 29% for 2025, and 30%, 32%, 33% [are] very realistic this year and beyond, Ishbia said."
The incentive applies to conventional, VA, FHA and USDA loans and is available for purchase loans, rate-and-term refinances and cash-out refis. The program includes FHA Streamline refinances and VA Interest Rate Reduction Refinance Loans (IRRRLs). The incentive is included in the Control Your Price (CYP) program, which provides brokers a pool of up to 125 basis points and permits up to 40 bps use on any single locked loan. Mortgage broker market share is increasing as loan origination systems shift from retail to wholesale to enable faster, cheaper closings. Market share may reach roughly 29% in 2025 and 30–33% thereafter. Estimates show about 37% more sellers than buyers in the market, and 2026 could see more listings and stronger purchase activity if buyer eligibility and rates improve.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]