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United Wholesale Mortgage has announced a new program that promises to clear appraisal restrictions and reduce the cost.
The team of UWM Appraisal Direct will be able to handle the appraisal process completely from start to end and in this process, the need for an appraisal management company will not be required they will streamline the process.
UWM claims that the appraisals will get completed faster than the average industry time.
President and CEO Mat Ishbia said that UMW understands that independent mortgage brokers need to get a fast and efficient appraisal on their borrowers’ homes so to provide 100% transparency and visibility their new team will use hi-fi technologies like tracking systems and communication alerts.
The appraisal process has been quite a challenge all throughout, an average UWM closes 60,000 loans every month, so it was of utmost importance to build a solution to improve this part of the UMW claim to have e best underwriting, technology, and people in the country, this new appraisal process will match it.
UWM does not plan to pocket any management fees and will pay appraisers in full after the appraisal is completed. The pilot stage program will be fully released on October 01 in all 50 states of the U.S.
Reference Source: MPA
