Mortgage eligibility
United Wholesale Mortgage removed its own minimum credit-score requirement for agency mortgages on October 7, replacing that threshold with decisions from automated underwriting systems. HousingWire reported that the change took effect immediately. [1]
The lender’s published product guidance covers conventional mortgages through Fannie Mae and Freddie Mac, along with FHA, VA and USDA loans. Applications must receive automated underwriting approval, rather than simply meet a score selected by UWM. [2]
Credit scores will still be used to price loans, including agency loan-level price adjustments, HousingWire reported. Those adjustments are charges reflected in mortgage pricing. The change concerns UWM’s eligibility overlay, meaning its additional lending requirement. [1]
UWM’s guidance lists several exceptions. Score minimums remain for conventional loans requiring mortgage insurance, its Conventional Cash-Out 90 and Conventional Non-Warrantable Condos products, selected down-payment assistance programs and eligibility for Elite products. [2]
For its Conventional One-Time Close New Construction loans, UWM also requires a score of at least 620 when a borrower has one installment-loan payment that was 30 days late. HousingWire separately reported that minimums remain for UWM’s jumbo, Bank Statement and Investor Flex products. [1][2]
Related reading: [United Wholesale Mortgage company profile](https://thefinancialcurrent.com/deep-dives/united-wholesale-mortgage-company-profile).