United Wholesale Mortgage (UWM) which has earned a reputation as the #1 wholesale and purchase lender in America, disclosed that it has successfully assessed and recognized the first-ever cryptocurrency mortgage payment in September and five more cryptocurrency mortgage payments in October from borrowers.
UWM has strived hard to be a leader in technology for years because it has never stopped pushing the envelope and questioning the status quo on what makes the loan process quicker, simpler, and not expensive for independent mortgage brokers and borrowers. The launch of BOLT demonstrates how the firm changes the mortgage game in a significant way.
Furthermore, recognizing cryptocurrency is one of many technology firsts by UWM over the years, which also include BOLT. BOLT is a self-service platform that offers the ability to get an initial authorization for qualified borrowers in just 15 minutes, and Virtual E-Close which is the industry’s first end-to-end online mortgage experience without wet signing any documents.
In addition, the firm disclosed that cryptocurrency transactions are not only the first of their kind for UWM but also the entire mortgage industry. UWM utilized these payments as a model to better evaluate scaling cryptocurrency payments for consumers. The firm has made history as it becomes the first lender to successfully pilot this technology and further shows that it is innovating for the long term.
