Troy, Mich.-based United Wholesale Mortgage initiated a new program that allows brokers to waive escrow requirements up to 90% loan-to-value, with no mortgage insurance. 

The lender says the new program will eventually be available on all conventional products across the U.S. However, the product will require a minimum 720 FICO, except in California. 

Allen Beydoun, senior vice president of sales with UWM, said, “This option allows the borrower to retain financial stability while pursuing their dream home.”