Rate Sheet
Mortgage Products
Non-Agency
Mortgage Insurance
Potent Potables
100

The count is 247.

What is rate sheet tiers?

100

This type of mortgage loan adjusts the rate after a certain fixed amount of time.

An Adjustable Rate Mortgage (ARM)

100

The term, "Non-Agency", refers to mortgage products that cannot be sold to these three entities.

What is Fannie Mae, Freddie Mac and Ginnie Mae?
100

This is the maximum LTV (loan-to-value) required to NOT have mortgage insurance on a Conforming loan.

What is 80%

100

This is the 2025 company goal that UWM has already achieved.

What is reducing costs by $10 million

200

This financial instrument is how we obtain our base price.

What is a Mortgage-Backed Security?

200

This term describes the amount of time that a loan is scheduled to be repaid. Examples are 10 years, 20 years and 30 years.

What is a loan term?
200

Non-QM is a type of Non-Agency product. For UWM, it is our Bank Statement, Investor Flex and Jumbo Interest-Only products. What does 'QM' stand for?

What is a Qualified Mortgage?

200

This was the first mortgage insurance company and it was founded in 1957 in Wisconsin.

Who is MGIC (Mortgage Guaranty Insurance Corporation)?

200

This is considered the biggest library in the world with over 175 million items.

What is the Library of Congress?

300

Not just a pesky little bug, 0.03125 basis points is also known as this.

What is a tick?
300

These three system environments must be built with the same product requirements.

What are DEV, STAGE and PRODUCTION? 

300

This is the percent of our Non-Agency loans are re-underwritten by the Due Diligence companies hired by our investors.

What is 100%

300
This is the type of MI where the cost of the mortgage insurance is a price adjustment included in the final lock price of the loan.

What is LPMI (Lender-Paid Mortgage Insurance)?

300

This is the minimum percent of loan officers that should use UWM at least 3 times in order for UWM to hit their 2025 company goal.

What is 83%?

400

This is the minimum amount of of money UWM wants to make on a loan.

What is the margin?

400

These rules minimize the risk of the mortgage loan product and allows the loan to be sold to an investor.

What are underwriting guidelines?

400

This is the term used for when UWM has to buy back a loan previously funded with an investor.

What is a repurchase?

400

78%

What is the LTV of the conforming loan where mortgage insurance automatically drops from the mortgage paument?

400

This "nut" is not truly a nut. It's a seed.

What is an almond?

500

Smaller lenders who do not securitize their loans, sell to Fannie and Freddie using this.

What is the cash window?

500

This data point is used to determine eligibility of the Home Affordable products. It changes yearly based on the U.S. Census Bureau's American Community Survey. 

What is Area Median Income (AMI)?

500

This is the name of the report that our Non-Agency investors ask us to validate our loan data when they include our loans into their MBS securities and sell them. 

What is an MLS (Mortgage Loan Schedule)

500

This is the format we send to our MI partners with new automated certificate order process.

What is a MISMO file?

500

A cat with extra toes.

What is a polydactyl cat?

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