UWM Launches BOLT Self-Service Platform
Summary
UWMs BOLT uses data extraction, auto doc recognition, and smart technology to input information from items such as driver’s licenses, income statements, county records, and more. The company stated that it also provides brokers access to the same income calculator used by UWM underwriters. Using automated tools and artificial intelligence will notify the user of any potential discrepancies. When brokers upload a loan application with required documentation, they will then be able to elect to use BOLT. “This will allow initial approval of the file to be completed in minutes rather than hours, while also ensuring guardrails and quality standards are in place.” UWM also announced the launch of The Source, a new customizable search engine that delivers information such as guidelines, all interpretations, and UWM product updates.