Media Alert: UWM Unveils Advanced AI Features in ChatUWM

Media Alert: UWM Unveils Advanced AI Features in ChatUWM

New features enable faster document analysis and thorough loan assistance

Pontiac, October 2, 2024 - United Wholesale Mortgage (UWM), the nation's #1 overall mortgage lender, today unveiled significant enhancements to its AI-powered technology, ChatUWM, designed to provide brokers with faster, easier and more comprehensive loan assistance.

Available immediately, the new enhancements include:

• Chatting With a Document
  Brokers can now upload any PDF and engage in dynamic conversations with the documents. Whether extracting critical details from an appraisal or clarifying seller credits from a purchase agreement, ChatUWM simplifies the process, enabling brokers to quickly understand key information. For instance, if a broker needs to identify seller credits in a purchase agreement, they can upload the document and ask ChatUWM, "What are the seller credits?" and "Is the buyer contributing anything additional?"
• Starting A Scenario
  ChatUWM's AI technology is now able to examine every UWM offering and make a recommendation based on the information a broker uploads to the platform. For example, a broker could simply upload a credit report and W2, and the platform will analyze the documents, ask a few follow-up questions and immediately provide a recommendation on product offering that will best fit with a borrower's specific financial situation. ChatUWM will also provide full transparency and pinpoint compensation for each loan.
• Calculating Income
  ChatUWM simplifies income calculations by allowing users to upload a variety of income documents - including W2s, self-employed income statements and rental agreements. The AI technology will extract the data from these documents, calculate it and return it back to the broker in a matter of seconds. ChatUWM will also showcase how the income was calculated, allowing the broker to fully understand where the numbers come from.
• Importing a Loan
  Brokers can now import a loan by simply uploading a 3.4 file ChatUWM. ChatUWM will run the file through One-Click AUS, pull credit and import it directly into EASE, UWM's application system.

ChatUWM was originally revealed at UWM LIVE! in May of 2024. Additional details on the technology can be found here.

UWM supports independent mortgage brokers with industry-leading training, technology and service. For more information on how to sign up as a broker with UWM or join UWM's network, visit uwm.com.

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