United Wholesale Mortgage (UWM) announced the release of UClose, a tool that will allow mortgage brokers to close their loans within an hour of receiving their closing authorization. This exclusive online tool will revolutionize the way brokers and correspondents close loans, as they will take control of the closing process, generate the closing documents and schedule the closing directly with their title company.
“UClose will give brokers complete control over the closing process, allowing them to move borrowers from close to close in just six clicks,” said Mat Ishbia, President and CEO of UWM. “It’s very important for real estate agents and borrowers to get to the closing table as quickly as possible, especially in a buying market. We created UClose so our brokers can get their clients to the closing table faster and more efficiently than any other lender, and will always be the first choice for real estate agents.
UClose has been strategically built to comply with the upcoming TILA-RESPA Integrated Disclosure Rule (TRID), providing an even stronger advantage for brokers and correspondents when TRID goes into effect in October.
The launch of UClose continues UWM’s ongoing efforts to provide innovative, value-added technology to its partners. This latest tool follows the January release of UWM’s custom loan origination system, EASE (Easiest Application System Ever), and enhancements to UTrack, which enables brokers and correspondents to provide borrowers and real-time agents real-time access to track their purchase and refinance loans from submission to closing.
“UWM is committed to developing cutting-edge technology to make the loan closing process faster, easier and more efficient for brokers and correspondents,” said Ishbia.