United Wholesale Mortgage (UWM) has introduced a new free service, UWM Connect, which notifies originators when a customer performs a credit pull so that they can win more business.
According to the company, the service monitors borrower credit pulls in order to funnel potential leads back to brokers that have previously completed deals with them. As such, the service is designed to generate more business for UWM's brokers.
‘Simply put, we designed UWM Connect to reunite borrowers back with originators that have done deals with them before through UWM in an effort of good faith to give back more business to our brokers,’ said Mat Ishbia, president of UWM, in a release. ‘Some lenders will take leads for themselves when a potential repeat borrower is in the market, axing the broker that originally worked the deal. That is not how UWM conducts business. We have created UWM Connect to further demonstrate that we're a true partner to our brokers, and we always have their best interest and success in mind.’
Once UWM Connect detects that a past or present customer has pulled a credit report, UWM account executives then alert their brokers of the activity so they can proactively contact the borrower to rekindle the relationship. UWM provides the broker's contact information to the borrower and redirects them back to the original broker.