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United Wholesale Mortgage announced a 0% down program last month, but people are split: Does it eliminate a barrier or will it launch us into another subprime mortgage crisis?
Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the housing crash and 2007-09 Great Recession, UWM's zero-down loans have to meet criteria set by mortgage giant Freddie Mac.
United Wholesale Mortgage has launched a new service to handle all title work for its brokers on refinances.