A fast-growing wholesale lender has unveiled a new program that rewards its mortgage broker customers with free mortgage leads.
Broker clients of United Wholesale Mortgage can immediately take advantage of the new free service, which has been dubbed UWM Connect.
United Wholesale says that it monitors the credit of borrowers on home loans that were originated through its network of mortgage brokers.
Once a credit inquiry pops up, the account executive for the originating broker alerts the broker — at which point the borrower can be contacted and the relationship revived.
In addition, the broker’s contact information is provided to the borrower, who is redirected back to the broker, according t the Birmingham, Mich.-based firm.
While United Wholesale has a sister company — Shore Mortgage — that is a retail originator, Mat Ishbia, who is president of United Wholesale and chief executive officer of parent United Shore Financial Services LLC, said in the announcement that the program is a good faith effort to give back business to its broker clients.
“Some lenders will take leads for themselves when a potential repeat borrower is in the market, axing the broker that originally worked the deal,” Ishbia stated. “That is not how UWM conducts business. We have created UWM Connect to further demonstrate that we’re a true partner to our brokers, and we always have their best interest and success in mind.”
