UWM Launches ‘BOLT’, Giving Mortgage Brokers the Tools to Get 15-Minute Initial Approval | Business


PONTIAC, Michigan – (BUSINESS WIRE) – Sep 25, 2021–

United Wholesale Mortgage (UWM), America’s premier wholesale and buying lender, today announced the launch of BOLT, a self-service platform that provides initial approval for qualified borrowers in only 15 minutes. Mat Ishbia, President and CEO of UWM, made the announcement today at the Association of Independent Mortgage Experts (AIME) Fuse event live.

This revolutionary tool uses data mining, automatic document recognition and smart technology to enter information from items such as driver’s licenses, tax returns, county records, and more. It will also create efficiency by providing brokers with access to the same income calculator used by UWM underwriters and, using automated tools and artificial intelligence, notify the user of any potential discrepancies.

“We have demonstrated time and time again with our proprietary technology, including UClose, our InTouch Mobile app and One-Click AUS, that we are leading the way in making the loan process faster and easier without compromising quality in any way. whatever, ”Ishbia said. “With BOLT, brokers will now have the control, speed and certainty they need to get loans to the closing table faster than ever before. “

The new functionality can be found in UWM’s loan origination system, EASE. When brokers upload a loan application with the required documentation, then they will be able to choose to use BOLT. This will provide them with a step-by-step process that will allow them to complete the initial approval when it’s convenient for them, creating a faster experience and fewer subscription keys.

“We will remember BOLT as an important development in the mortgage industry that has forever changed the way underwriting is done,” said Ishbia. “UWM built this technology, which uses things like document recognition and indexing. This will allow the initial approval of the case to be completed in minutes rather than hours, while ensuring that guardrails and quality standards are in place, as is always the case with UWM, to conclude deals. own loans. “

At the AIME Fuse event, UWM also announced the launch of The Source, a new, customizable search engine that delivers the information brokers need, all in one place. This includes all guidelines, interpretations, industry news and updates to UWM products. Instead of sending users to other locations to find information, The Source searches multiple databases and uses smart search technology to generate fast, relevant results based on past and popular searches. It’s also fully customizable, allowing users to bookmark the information they need most and reference it the most.

UWM supports independent mortgage brokers with state-of-the-art training, technology and service. For more information on how to register as a broker with UWM, visit www.UWM.com.

About UWM Holdings Corporation and United Wholesale Mortgage

Based in Pontiac, Michigan, UWM Holdings Corporation (UWM) is the publicly traded indirect parent company of United Wholesale Mortgage. UWM has been the nation’s leading wholesale lender for six years in a row, delivering cutting-edge technology and unmatched customer service. UWM is known for providing highly efficient, accurate and fast loan assistance. UWM underwrites and provides closing documents for residential mortgage loans issued by independent mortgage brokers, correspondents, small banks and local credit unions. UWM’s exceptional teamwork and focus on providing innovative mortgage solutions are the driving force behind the company’s continued growth and its leadership position as a leading advocate for mortgage brokers. For more information visit www.uwm.com or dial 800-981-8898. NMLS # 3038.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210925005030/en/

CONTACT: NICOLE ROBERTS, PR Strategist

(248) 833-4287

Nroberts1@uwm.com

KEYWORD: UNITED STATES NORTH AMERICA MICHIGAN

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY RESIDENTIAL BUILDING AND REAL ESTATE SOFTWARE FINANCE CONSTRUCTION AND PROPERTY

SOURCE: United Wholesale Mortgage, LLC

Copyright Business Wire 2021.

PUB: 25/09/2021 15:38 / DISC: 25/09/2021 15:38

http://www.businesswire.com/news/home/20210925005030/en

Copyright Business Wire 2021.


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