To qualify for Refi75, mortgage brokers must meet certain criteria, including having a lender-paid compensation plan at or below 1.5%. If the general compensation plan is above 1.5%, then brokers can adjust the refi compensation plan in compensation settings via the EASE platform, even if they’ve been changed within the past 90 days.
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Other requirements include a maximum net price of 101.50, and adherence to specific loan seasoning and lock requirements. Loans must be locked in between September 4 and October 31, prior to submission for underwriting.
Loans not currently serviced by UWM have no restrictions on note dates, but for loans currently serviced by UWM there are specific seasoning requirements: at least 365 days for conforming conventional loans and 210 days for FHA, VA, and USDA loans.
The offer follows UWM’s recent Govy125 program, which provided a 125-basis-point rate cut for VA IRRRLs and FHA Streamlines.
