UWM's new conforming loan limit outdoes competitors

United Wholesale Mortgage is the latest to raise its conforming loan limits in advance of the new year, at amounts higher than its competitors. 

The leading lender and servicer announced an $803,500 limit for one-unit conventional and Department of Veterans Affairs-backed mortgage locks beginning Wednesday. Updated limits are also available for conventional loans on 2-to-4 unit properties, months ahead of the Federal Housing Finance Agency's announcement.

UWM's move follows rival Rocket Pro TPO's announcement last Friday, and Pennymac TPO's new limits rolled out Monday. The Pontiac, Michigan-based lender's new 1-unit conforming limit is slightly larger than both of its competitors' $802,650 figure for 2025.

New conforming limits for UWM borrowers range from up to $1,028,811 for 2-unit properties; $1,243,536 for 3-unit homes and $1,545,470 for 4-unit houses. Higher conforming loan limits for Alaska and Hawaii are not included, the lender said Wednesday afternoon. 

Certain wholesalers in recent years have raced ahead of the FHFA's annual November loan limit pronouncement, with UWM and Pennymac first to offer this promotion in October 2021. Rocket Pro TPO has since claimed it's been the first mortgage player to bring higher limits for its brokers three years in a row. 

UWM, the nation's largest lender, has debuted several initiatives this month, including an artificial intelligence-powered tool that shares pre-validated refinance opportunities with borrowers. Another new promotion is Refi75, a 75 basis-point incentive on any note rate for conforming, conventional mortgages, Federal Housing Administration and U.S. Department of Agriculture rate and term refinances.

The company this past weekend also unveiled BrokerX, a five-week program to train professionals into licensed mortgage loan originators. The platform, announced at the Association of Independent Mortgage Expert's annual conference, will allow participants to take Nationwide Multistate Licensing System-approved training, and test prep with OnCourse Learning for the first four weeks of the program. 

After passing the NMLS' Secure and Fair Enforcement MLO exam, prospective brokers will spend a fifth week onsite at UWM. The training will cost $250, and participants will be responsible for their test registration, background and credit check fees. Broker owners can sign up candidates, with the first session beginning Oct. 21, the company said. 

The industry giant in the second quarter this year reported $33.7 billion in combined purchase and refi origination volume, UWM's highest production since the first quarter of 2022.