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…
I just returned from speaking at the ABA Real Estate Lending Conference in Orlando. It was a great conference and the Hyatt Regency was a great venue. I only regret I couldn’t spend more time in Orlando. The conference offered a myriad of information, products, and services covering just about all areas of commercial and residential mortgage lending. Topics discussed…
We knew it would come sooner or later. It looks like it may have started. For the 4th quarter 2016 Independent Mortgage Bankers reported a decline in production and with it a drop in profits. On average, the net gain on loans originated in the 4th quarter was about $575, a big drop from the $1773 per loan reported in…
Today it’s all about technology; Social media, online information, immediate access to products and services. You name it, it’s better with technology. Mortgage lending, although a little slow to the dance, is now embracing technology like never before, and what tech can do for them. It’s about time. Lenders now offer online product and pricing search engines, with automated applications…
Fannie Mae introduced their new Day 1 Certainty program for relief from the reps and warrants related to the verification and reverification of employment, income, and assets. Good news for lenders. To obtain the relief, lenders need to validate information through Fannie approved vendors. At present those are limited to; The Work Number for employment and income Equifax for tax…
More and more lenders are providing consumers with online capabilities to obtain information about products offered and make application for a mortgage loan. More and more consumers desire and expect these capabilities when making their decision on which lender they choose. To stay competitive as a mortgage lender you need to offer the consumer the option to communicate through online…
