Mortgage brokers now have the ability to compete with Quicken Loans’ Rocket Mortgage and other digital mortgage options from large lenders, as United Wholesale Mortgage unveiled its own fully digital mortgage that brokers can offer to their borrowers.
The new offering is called BLINK, which stands for “borrower link,” and according to the United Wholesale, it allows mortgage brokers to be on an even playing field in the digital mortgage space.
In a release, United Wholesale said that BLINK is an “all-digital, multi-functional loan portal that allows consumers and brokers to take an application no matter where they are.”
By using the system, borrowers have the capability to start the loan application process, pull their credit, e-sign documents, verify assets, and track the status of their loans – from anywhere, UWM said in the release.
Additionally, UWM said that BLINK allows each customer to use the system as much or as little as they’d like to.
“Borrowers can complete the mortgage process entirely on their own if they choose, or seek assistance from their mortgage broker at any time,” UWM said, “allowing the capability to co-browse screens with their clients in real-time to guide them through the process. Additionally, if a borrower wants to meet in person, they can still meet in person and complete the application online together.”
Mat Ishbia, UWM’s president and CEO, said that the company is happy to provide what the company views as a necessary technological advancement to mortgage broker.
“Technology and consumer-driven tools are building momentum within the mortgage industry,” Ishbia said.
“With BLINK, new homebuyers or existing homeowners will be able to initiate the loan process from any mobile device, in the comfort of their home, on their own time,” Ishbia continued.
“We’re proud to make this great tool available to brokers throughout America, as we believe that brokers are the best place for all borrowers to get a loan,” Ishbia concluded. “It is a focus of ours to give brokers access to the best technology tools to compete with the mega retail lenders.”