HousingWireHousingWire
Michigan-based United Wholesale Mortgage (UWM) has extended its 60 basis points (bps) pricing incentive until March 31 “due to its strong success and the substantial competitive edge it’s offered independent mortgage brokers in today’s market,” a spokesperson from UWM confirmed.
The original program, dubbed “60bps for 60 Days,” was originally only available through January 31 and was intended for the slow mortgage market activity period which is attributed to the holiday season. Extending the program means it’s available into the busier spring home-buying season.
The program applies to both conventional and government loans and is available to borrowers with a FICO score of 720 or higher. UWM’s website advertises that partners who earn PRO Elite 100+ in January or February can then extend the incentive through March 31.
The move is similar to previous UWM pricing incentives. In September 2024, UWM launched a 75-bps incentive program for conforming conventional and government-backed rate-and-term refinances. Initially set to end on Oct. 31, 2024, the program was extended through Nov. 29, 2024.
