United Wholesale Mortgage (UWM) CEO Mat Ishbia announced three initiatives for brokers at AIME Fuse on Saturday. The most impactful may be an alternative to the traditional lender title process, called TRAC. Ishbia said his company has hired attorneys to review title and closing docs, make sure the title is clear and then help facilitate the closing process.
Ishbia said brokers leveraging attorney opinion letters (AOLs) through TRAC could save borrowers up to $1,100 on purchase loans and about $800 on refis.
Ishbia also announced the roll out of UClose 3.0, an enhanced version of UWM’s UClose 2.0 platform, which was details ⇒
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