United Wholesale Mortgage (UWM) announced that it will drop interest rates across the board by 50 to 100 bps through its latest pricing initiative. Mat Ishbia, the company’s president and CEO, said that “this strategic pricing move is two-fold: It takes the guesswork out of where a broker should place a loan and accelerates retail loan officers joining the wholesale channel as it further extends independent mortgage brokers’ advantage over retail.”
Experian announced that it is now an authorized report supplier of income and employment verification through Fannie Mae’s Desktop Underwriter (DU) validation service. This makes Experian one of the verified income and employment report providers to support Day 1 Certainty from Fannie Mae, which provides freedom from representations and warranties on validated loan components, including borrower income and employment status.
Geneva Financial announced the opening of a new location in Seattle, led by branch manager Nadia Raknai.
CPF Mortgage announced its expansion and new broker licensure into Tennessee. The company has opened a new office in the state, located in Knoxville and managed by Derek Aron.