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United Wholesale Mortgage (UWM), one of the nation’s leading wholesale mortgage lenders announced they now offer Brokers a completely digital platform for loan originations. Meet “Blink” (Borrower Link).
According to a release by UWM, their new Blink system allows Brokers to compete with large lenders that offer online applications and a digital loan experience. Just like QuickenLoans’ Rocket Mortgage.
The new system provides Brokers, working with UWM, with a digital, multi-functional portal for anywhere, anytime, online applications with the capabilities for credit and document gathering, verifications, e-signatures, and the availability of loan status and tracking. This would be an all in one single source for loan applications and related information.
According to their President, Matt Ishbia, UWM is proud to offer this new system to loan Brokers, as he believes they are the best place for all borrowers to get a mortgage. The Blink system will allow these Brokers to compete for business with the mega mortgage lenders and banks.
Once again, in the blink of an eye, the game is changed. The advantages that some large mortgage lenders, including Wholesale and Correspondent lenders, thought they had are disappearing.
Technology is leveling the playing field and not everyone needs to have the resources to reap its benefits. Just find someone with whom you can partner and away you go.
When all is said and done, it will once again come down to quality, compliance, and good, old-fashion customer service, with a twist of technology. Consumers still want to deal with someone they can trust and are available to answer their questions and provide guidance and advice when needed.
Technology is a tool that can make a lender, and its people, more productive. It doesn’t replace customer care and customer service.
If you build it, buy it, or partner with someone to get it, they will come.
Don’t blink, you just may miss something.
