Weekly Real Estate News
Summary
UWM launched Underwriting+, combining underwriting, processing and borrower communication under one underwriter; UWM says pilot loans averaged 8.3 days to clear-to-close.
United Wholesale Mortgage is expanding the role of its underwriters in a new program that puts processing, underwriting and borrower communication under the same person handling the loan file.
UWM announced Underwriting+ Wednesday, saying the program is designed to reduce handoffs between teams and move wholesale loans from submission to closing more quickly.
Under the traditional workflow described by UWM, different employees may identify underwriting conditions, gather documentation and coordinate with borrowers or third parties. Underwriting+ assigns more of those responsibilities to the underwriter who already reviewed the file.
That underwriter can work directly with borrowers and third parties, obtain missing documents, resolve questions and clear conditions while continuing to drive the file toward closing.
UWM reports 8.3-day clear-to-close average in pilot
UWM said thousands of loans closed during its Underwriting+ pilot and averaged 8.3 days from submission to clear-to-close, with 2.1 underwriting touches per file.
Those figures are company-reported pilot results, not an independent industry benchmark. UWM did not provide a control group or detailed methodology in its announcement that would allow a direct comparison with loans processed through its standard workflow.
The program became available to UWM broker partners Sept. 23. Through Dec. 31, the lender is offering no-cost processing on three Underwriting+ loans for participating partners.
“Brokers should spend their time doing what they do best: originating loans and selling the right product and rate to their borrowers,” UWM President and CEO Mat Ishbia said in the announcement.
Another effort to reduce mortgage workflow handoffs
The launch addresses a persistent friction point in mortgage operations: a file moving among multiple people and teams as it advances from application through underwriting and closing. Each transfer can introduce another communication step or delay, particularly when documents or explanations are still outstanding.
Underwriting+ does not eliminate underwriting requirements. Instead, it changes who is responsible for obtaining information and advancing the file once the underwriter identifies what is needed.
The rollout also comes amid a broader technology and workflow push by UWM. WRE News reported Thursday that the lender replaced its InTouch mobile app with ChatUWM, giving brokers voice access to pipeline information, expiring locks, loan updates and guidelines.
Earlier this month, UWM expanded financing for eligible non-warrantable condominium projects and introduced an address-based eligibility tool.
For brokers evaluating Underwriting+, the most important question will be whether the pilot’s faster timeline holds as usage expands beyond the initial group of loans. UWM’s reported 8.3-day clear-to-close average is notable, but broader production will provide a better test of whether consolidating responsibilities consistently reduces turn times.
