General World News

UWM drops rates 50 to 100 basis points in bid for brokers

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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