United Wholesale Mortgage Introduces Escrow Advantage Program for Brokers

Author: United Wholesale Mortgage
Dateline: Troy, Michigan (TROY, Mich.)  | Tue, 02 Jul 2013

freeNewsArticles Story Summary: “UWM (United Wholesale Mortgage), the fourth largest wholesale mortgage lender in the U.S., today announced that it rolled out a new program that gives brokers the option to waive escrows up to 90 percent LTV, with no M.I., on all conventional products in all states.”



A R T I C L E:

UWM (United Wholesale Mortgage), the fourth largest wholesale mortgage lender in the U.S., today announced that it rolled out a new program that gives brokers the option to waive escrows up to 90 percent LTV, with no M.I., on all conventional products in all states.

"Our new Escrow Advantage option gives originators the ability to waive escrows on up to 90 percent LTV, which significantly reduces monthly payments and closing costs," said Mat Ishbia, president of UWM.

"Typically this would have only been allowed with 20 percent down or more. Borrowers can now keep this extra money in the bank. It's yet another attractive UWM offering that arms our brokers with additional options to help them be more successful."

Program Criteria -
To be eligible for Escrow Advantage, loans need to meet the following criteria:
* Maximum 90 percent LTV.
* Minimum 720 FICO. (No FICO Restrictions in Calif.)
* Conventional loan.

"By combining Escrow Advantage with UWM's wildly successful Ultimate Advantage program, borrowers can spend as little as $100 more per month to keep more than $20,000 in the bank," said Allen Beydoun, SVP of sales. "This option allows the borrower to retain financial stability while pursuing their dream home."

Interested parties can learn more about UWM's Escrow Advantage by contacting the company at 800-981-8898.

About United Wholesale Mortgage:

Headquartered in Troy, Michigan, UWM underwrites and provides closing documentation for residential mortgage loans originated by mortgage brokers, banks, credit unions and correspondents.

UWM provides unparalleled service with its deep understanding of the mortgage process using its talented team of account executives, underwriters, closers and funders, who have years of experience with intricate knowledge in wholesale.

UWM's positive teamwork and dedication to exceptional customer service has resulted in continued success and growth that has spawned expansion.

For more information, visit http://www.uwm.com/ or call 800-981-8898.

###


Copyright © 2013 by United Wholesale Mortgage and Send2Press® Newswire, a service of Neotrope® - all rights reserved. Information believed accurate but not guaranteed. Sourced on: freeNewsArticles.com.

• Web Image (72dpi): https://www.send2press.com/mediaboom/13-0409-uwmortg_72dpi.jpg

• Media Contact Information: https://www.send2press.com/mediadrome/2013-07-0702-003.txt

Story Title: United Wholesale Mortgage Introduces Escrow Advantage Program for Brokers
• REFERENCE KEYWORDS/TERMS: mortgage brokers, Troy, Michigan, Mat Ishbia, Banking and Finance, Business, Finance, TROY, Mich..

IMPORTANT NOTICE: some content which is considered "old" or "archival" may reference an event which has already occurred; some content possibly considered "advertorial" may also reference a promotion or time-limited/sensitive offering, and in all of these instances certain material may no longer be valid. For notably stale content, you should directly contact the company/person mentioned in the text (United Wholesale Mortgage); this site cannot assist you with information about products/services mentioned in the news article, nor handle any complaints or other issues related to any person/company mentioned or promoted in the above text. Information believed accurate but not guaranteed as of original date of story [Tue, 02 Jul 2013 17:29:05 GMT].

USE THIS CONTENT FOR FREE: To use this content in your newspaper, broadcast outlet, news portal, blog/ezine or similar, free of cost, CLICK HERE to learn how.