United Wholesale Mortgage (UWM) has introduced a new conventional cash-out loan product featuring a loan-to-value (LTV) ratio of nearly 90% and zero mortgage insurance requirements. This move by the Michigan-based lender comes in response to a recent decline in interest rates and heightened competition within the refinancing market.
Key points:
– UWM’s new offering allows borrowers to access up to 89.99% LTV for cash-out refinances
– The product eliminates the need for mortgage insurance, potentially saving borrowers on additional costs
– The decision to expand LTV limits reflects UWM’s strategy to remain competitive in the current market environment
You can read this full article at: https://www.housingwire.com/articles/uwm-to-offer-cash-outs-with-up-to-90-ltv-without-mortgage-insurance/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
