Michigan-based United Wholesale Mortgage (UWM) is taking another step to aggressively reduce its prices in order to gain market share in a shrinking mortgage market.
The company announced on Wednesday that it is giving up to 125 basis points to brokers to use on any loans they lock with the lender, with a maximum of 40 basis points per loan.
According to a spokesperson for the company, LOs can apply their own pricing enhancement to their borrowers with these basis points.
“Sometimes 10-20 basis points is all an LO needs to win over a real estate agent or get creative on a borrower’s details ⇒
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