UWM Partners with Bilt to Enhance Mortgage Servicing
United Wholesale Mortgage (UWM) has partnered with loyalty platform Bilt to retain mortgage servicing rights, offering rewards for on-time payments and enhancing broker-borrower relationships.
This new partnership aligns with CEO Mat Ishbia's vision for the company's servicing portfolio since bringing these operations in-house. Traditionally a seller of mortgage servicing rights (MSRs), the lender may now focus on retaining these assets.
Our model of selling servicing as often might not be what we do going forward.
According to Ishbia, UWM currently has around 1 million consumers and originates 40,000 to 50,000 mortgages per month. These consumers will be on the UWM-Bilt platform, which aims to provide a seamless experience.
Author's summary: UWM partners with Bilt to enhance mortgage servicing rights.
- Partnership aims to retain mortgage servicing rights
- Offers rewards for on-time payments
- Enhances broker-borrower relationships