United Wholesale Mortgage’s BOLT platform is transforming the underwriting process by giving brokers the opportunity to obtain an initial approval on conventional loans in minutes with fewer touches and more certainty. This technology uses data extraction, auto doc recognition and smart technology to input information into UWM’s loan origination system — EASE. EASE significantly reduces turn times and gives borrowers and realtor partners a better experience with faster closings.
- It allows brokers to stay ahead of their loan files and receive initial approval for qualified borrowers in as little as 15 minutes.
- Since the launch, it has been used on over 20,000 loans. It saves thousands of mortgage brokers countless hours processing loan files and provides more certainty to the borrower and realtor by having the ability to receive initial approval in as little as 15 minutes.
- The platform helps brokers to cut costs and scale their business to meet the demand for mortgages.