“Electronic capabilities in the closing process are the next wave of innovations that will define how successful lenders and mortgage brokers will be moving forward,” said Mat Ishbia, president and CEO of UWM.
Designed to make the closing process faster and easier for settlement agents within the UWM network, the portal allows agents to review the preliminary closing documents and submit changes electronically, placing the file directly into the closing queue and eliminating the need for multiple emails and waiting for a closing specialist to reply. Once closing documents are approved, a notification will be sent and the final documents will be delivered to the portal for retrieval.
“The speed and simplicity that the Settlement Agent Portal adds to the closing process will give mortgage brokers a major competitive advantage in the marketplace. Similar to our UClose technology that allows same-day and next-day closings to be completed by brokers, even in the post-TRID world, the new Settlement Agent Portal is another example of UWM making lending easy for our clients,” said Ishbia.
At least one aspect of TRID appears to be working
Settlement Agent Portal, the new proprietary portal from United Wholesale Mortgage (UWM), will now enable settlement agents to submit their closing changes electronically to UWM, streamlining the closing process and speeding up response time.