General World News

UWM releases jumbo product to frazzled brokers

In concert with its ultimatum to brokers that they not use Rocket Pro TPO and Fairway Independent Mortgage, United Wholesale Mortgage on Wednesday officially released a new jumbo product.

The Pontiac, Michigan-based wholesale lender, which discontinued jumbo products at the onset of the pandemic, is offering its mortgage broker partners a jumbo product that goes up to $2 million, with a loan-to-value ratio of up to 89.99%.

“Prime Jumbo,” as it is dubbed, offers competitive rates, simplified guidelines and the ability to run DU for eligible loans, the lender said in a details ⇒

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