UWM drops high-balance LLPAs, extends Bullseye 90 pricing

United Wholesale Mortgage (UWM) announced on Wednesday that it is extending its Bullseye 90 pricing incentive through Oct. 30, giving mortgage brokers additional pricing flexibility on eligible loans. Bullseye 90, originally launched in August, provides brokers with a 90-basis-point pricing incentive on one eligible purchase or refinance loan. When announced, the eligible product options included conventional and government loans, including those through the Federal Housing Administration (FHA), Department of Veterans Affairs (VA) and Department of Agriculture (USDA). Now, the promotion also applies to eligible jumbo loans, expanding the program to higher loan amounts. UWM also is removing loan-level price adjustments (LLPAs) on high-balance fixed-rate purchase and rate-and-term refinance loans through Oct. 30. Bullseye 90 cannot be combined with other incentives, including Control Your Price or a 25-bps temporary rate buydown. Brokers must submit a credit report to UWM’s lock desk within one day of locking the loan to qualify. The changes come as the industry continues to focus on LLPAs and pricing competitiveness in the high-balance segment. By removing the adjustments, UWM said ...