UWM Rolls Out “60 BPS For 60 Days” Pricing Incentive

United Wholesale Mortgage announced a 60-day basis point pricing incentive for independent mortgage brokers.

The program, “60 bps for 60 days,” is available for borrowers with a FICO score of 720 or higher through January 31, 2025. It applies to both conventional and government loans.

This program is designed to help independent mortgage brokers stay competitive during the slowest point of the holiday season.

“The purchase market usually slows down in the fourth quarter. The refi market has slowed down,” UWM CEO Mat Ishbia said during an earnings call last month.

“October was a 23-business day month. November and December, obviously, are shorter months with the holidays, and a lot of times, brokers and all people in the world take some time off between 15th December and beyond. And so we’re cognizant of that.”

This marks yet another addition to UWM’s stable of incentives.

Earlier this year, the company launched a new 90% LTV cash-out refi that doesn’t require insurance. It’s painted as a way to “win more business and gain valuable referrals while helping borrowers take full advantage of their home equity.”

UWM and Ishbia face ongoing scrutiny due to a lawsuit arising from a Hunterbrook Media investigation earlier this year.

The report linked UWM to $39 billion in mortgages sent to the lender by brokers who allegedly worked as loyalists.

UWM lawyers say the lawsuit reflects an unprecedented effort to smear the company, its affiliates, and Ishbia in “an obvious coordinated attempt to benefit market speculators.”