United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, wants to beat rival lenders by offering competitive pricing to brokers, a move designed to navigate a shrinking mortgage market with compressed margins.
UWM dropped rates by 50 to 100 basis points across all loan types, the company said in a release. The new program follows UWM’s two-month price-match trial that ends June 30. In May, the firm said it will match competitors’ 30-, 45-, or 60-lock pricing by 1 basis point to a maximum of 40 basis points.
UWM’s price-matching guarantee included competitors such as Amerisave, Amwest Funding, details ⇒
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