United Wholesale Mortgage announced its latest mortgage product serving high-end borrowers, Elite ARM. This is just the latest in a string of several new initiatives from the lender over the past several months.
At the end of February, UWM updated its loan tracking technology, UTrack, becoming one of the first wholesale lenders to provide a tool for brokers to create greater transparency for borrowers.
And in January, it announced the launch of its own loan origination system EASE after almost a year of developing.
UWM added the new product to its Elite and Elite High End Balance program, which first launched in 2012 and caters exclusively to well-qualified clients, providing preferred conventional rates and pricing for borrowers with high FICO scores.
UWM’s Elite family of products includes conventional fixed, conventional high balance fixed and now ARMs.
Product highlights include:
Conventional and Conventional High Balance Loans
- Fixed or 5/1 – 7/1 ARMs
- Loan amounts from $250,000 – county loan limit
- 760+ FICO
- Up to 80% LTV
- PIWs honored through DU