TROY, Mich., April 14, 2014 (SEND2PRESS NEWSWIRE) -- United Wholesale Mortgage (UWM), one of the nation's largest wholesale lenders, announced that it launched a new program called "Big & Easy Plus," which is designed for non-QM Jumbo loans.
"There are a lot of borrowers that currently do not fit into the QM category," says Mat Ishbia, CEO and president of UWM. "Our Big & Easy Plus program gives UWM clients the flexibility to originate a 'make sense' loan for Jumbo borrowers with higher DTIs, helping expand their pipelines."
Program highlights include:
- DTI range of 43.01 - 49.00 percent.
- Loan amounts from $417,001 - $1,500,000.
- 740+ FICOs.
- LTVs as high as 75 percent.
UWM's originators can log into its broker portal, EASE (Easiest Application System Ever), to review the full set of guidelines and parameters. The program can also be accessed by UWM's recently rolled out mobile application for Apple and Android Devices.
Interested parties can learn more about UWM's Big and Easy Plus program by contacting the company at 800-981-8898 or by visiting http://www.uwm.com/ .
About United Wholesale Mortgage:
Headquartered in Troy, Michigan, United Wholesale Mortgage (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 client service has resulted in continued success and growth that has spawned expansion. For more information, visit www.uwm.com or call 800-981-8898.
Profundity Communications, Inc.
NEWS SOURCE: United Wholesale Mortgage :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by Send2Press® Newswire, a service of Neotrope®. Original syndication source of this press release: https://www.send2press.com/newswire/United-Wholesale-Mortgage-Launches-Non-QM-Program-to-Accommodate-Jumbo-Borrowers_2014-04-0414-005.shtml.