United Wholesale Mortgage (UWM) has undertaken a comprehensive revamp of its Safe Check program to provide enhanced protection for brokers against the inundation of excessive trigger lead solicitations. Additionally, the updated program is designed to empower borrowers to mitigate the burden of escalating credit costs, allowing them to secure more affordable lending solutions. This strategic initiative not only bolsters broker confidence but also reinforces UWM’s commitment to delivering value and financial security to borrowers in an increasingly complex mortgage landscape.”
The wholesale industry leader has introduced Safe Check Complete, a service that allows brokers to request a pre-qualification assessment through a 3-bureau soft credit check priced at $23. Following this initial step, UWM will obtain a comprehensive tri-merge hard credit report without imposing any additional costs on the borrower. Moreover, loan officers have the opportunity to have the Safe Check Complete expenditure reimbursed upon closing.
Furthermore, UWM has broadened the scope of Safe Check to encompass government, jumbo, and conventional loans. It’s worth noting, though, that not all loans falling under the Safe Check category are eligible for HELOCs, bank statement loans, investor flex loans, or USDA loans. Additionally, Safe Check Complete is not an option for VA IRRRL and FHA streamline loans.
Available solely to UWM partners, Safe Check offers increased assurance during the application process, mitigates the influx of credit trigger inquiries, and results in cost savings for both brokers and borrowers, according to the company’s statement.
Launched for the first time in October 2022, Safe Check made its mark by offering single-bureau soft credit checks for a competitive $10. Recognizing the evolving needs of independent mortgage brokers and their clients, UWM took a significant step forward earlier this year by enhancing the offering. Now, brokers have the option to secure 3-bureau soft credit checks for their clients, priced at $23. This enhancement has not only expanded the breadth of credit information available but also provides an even more comprehensive assessment tool to help borrowers secure the best possible lending solutions. UWM’s commitment to innovation continues to benefit both brokers and borrowers alike.