All parameters on each line are used in combination
with one another — each line represents a specific
loan scenario or credit grade
DOCUMENTATION
I=Income
E=Employment
A=Assets 45=4506
O
P
V=Verified S=Stated
PROGRAM
V
R
#
NAME
Type I E A 45
C FICO %/$K
OCC PURP
N
UNITS
ConvArmC/O Full V V V Y VN C 1 680 75/417
United Wholesale Mortgage continued
ConvArmC/O Full V V V Y O C 2 680 75/417
ConvArmC/O Full V V V Y N C 2 680 60/417
Conv-HBArm Full V V V Y O PR 1 680 75/729
Conv-HBArm Full V V V Y V PR 1 740 65/729
Conv-HBArm Full V V V Y O PR 2 740 75/729
Conv-HBArm Full V V V Y O C 1 740 60/729
DURefiPlus Full V V V Y OVN PR 1 680 95/417
DURefiPlus Full V V V Y O PR 2 680 95/417
UWM is now offering the same speed and service you are used to with our conventional product line!
%/$K %/$K %/$K FICO
LTV / LOAN AMOUN T
Combinations tied to different scores
LTV / LOAN AMOUNT
%/$K
45 0/12 NA N N
45 0/12 NA N N
45 0/12 NA N N
45 0/12 NA N N
45 0/12 NA N N
45 0/12 NA N N
45 0/12 NA N N
45 0/12 95 NA N N
45 0/12 95 NA N N
Ratio
%
Mtg
Lates
30s
in the
Last
Mo
to
%
IO
Period
Yrs
Fixed,
ARM,
Both
F/A/B
40-yr
Amort
30-yr
Term
w/Min
Pmt/
Neg
Am
40/30 ARM Interest Only
PRODUC T OPTIONS
CLTV DTI
MTG
LATES
Clearing conv cond. in 48 hrs
Easy paperless AUS software
UWM=speed, service & knowledge
Use our revolutionary eConsent
Closing conv loans in 10 days!
Under writing conv in 72 hours
Clearing conv in 72 hours
Clearing conv cond. in 48 hrs
CTC today = closing tomorrow
COMMENTS
Tell lenders you found them in Scotsman Guide
Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production cycle and dynamic nature of the industry, loan product
terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.
« articles »
By Patricia Kiteke
Co-founder
Home for the Honeymoon
First Comes Love, Then Comes Marriage —
and a Downpayment
Newlywed homebuyers can turn to downpayment registries to afford their purchase
Starting a life together is an excit- ing time for couples, but it can come with hefty financial commitments. In many cases, it can be
challenging — if not nearly impossible
— for newlyweds to save the money
necessary to buy a home. This is especially true since the return of conservative underwriting standards that
require larger downpayments.
Here’s the good news: A wedding
is one of the few events where dozens of guests shower their hosts with
gifts. Homebuyers hoping to avoid the
typical barrage of plates, glasses and
cutlery now have a choice. They can
instead use the occasion of their wedding to ask the closest people in their
lives — their wedding guests — for
help with perhaps the most-important
purchase of their lives.
Mortgage brokers and loan origi-
nators can explain the concept of
downpayment registries to their cli-
ents and help underwrite mortgages
that use these gift funds. These reg-
istries can be especially logical for
couples who already live together
and have collected a wealth of house-
hold items during their time in rental
accommodations.
“Homebuyers hoping to
avoid the typical barrage of
plates, glasses and cutlery
On the other hand, many people will
hesitate — at least at first — to ask
wedding guests for cash. This is where
downpayment registries become especially helpful.
A downpayment registry offers cou-
ples the option of directing guests to a
website where they can perform a se-
cure transaction and get a glimpse at
what sort of home the couple is thinking
of buying. The couple can post homes
they like or are considering and show
neighborhood information. Doing so
can help involve wedding guests in the
process and make them feel connected
to the purchase. In addition, downpay-
ment registries also can deflect some
of the criticism couples might other wise
experience asking for cash.
Mortgage brokers and loan originators can offer additional help by explaining the underwriting rules pertaining to gifted funds. Depending on
the time between the wedding and the
home purchase, gifted funds may or
may not need to be called out when applying for a loan. Typically, a gift letter
will be the best choice for larger sums.
If you’re looking for a new way to increase your business, start by finding
out more about downpayment registries and how they can help you attract
young couples looking to marry and
buy their first home. •
Patricia Kiteke is the co-founder of Home for
the Honeymoon (homeforthehoneymoon.
com), an international online do wnpayment-registry service. Realtors by trade, she and
her business partner, Christina Carrick, came
up with the idea of a wedding registry geared
toward homeownership instead of traditional
household items. They hope to help couples
afford their dream home sooner, as well as to
reduce the environmental impact of unnecessary gifts and consumer items. Reach Kiteke
at patriciakiteke@shaw.ca.
