United Wholesale Mortgage (UWM) has launched a new Settlement Agent Portal that lets settlement agents submit their closing changes electronically to UWM.
The new portal allows settlement agents to review the preliminary closing documents and submit their changes electronically, placing the file directly into the closing queue. This eliminates the need for multiple emails and waiting for a closing specialist to reply to an email.
As such, the new portal will streamline the closing process and speed up response time, the wholesale lender says in a release.
“Electronic capabilities in the closing process are the next wave of innovations that will define how successful lenders and mortgage brokers will be moving forward,” says Mat Ishbia, president and CEO of UWM. “The speed and simplicity that the Settlement Agent Portal adds to the closing process will give mortgage brokers a major competitive advantage in the marketplace.
“Similar to our UClose technology that allows same-day and next-day closings to be completed by brokers, even in the post-[TILA-RESPA Integrated Disclosures] world, the new Settlement Agent Portal is another example of UWM making lending easy for our clients,” he adds. “We designed it with the goal of making the closing process so easy that settlement agents will be encouraging mortgage brokers to use UWM for all of their loans.”