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Th e M Rep o RT | 11 on the web Fannie Mae, Freddie Mac, Chase, PennyMac, and others. The first and only patented verification of deposits and as- sets solution in the marketplace, AccountChek collects data directly from financial institutions and provides lenders and inves- tors with electronic Ability to Repay (ATR)/Qualified Mortgage (QM) compliance verifica- tions that are generated within minutes. Designed to be used in tandem with credit reports, the AccountChek Asset Report includes a borrower's running bal- ances, deposits and withdrawals, non-sufficient funds and large deposit notifications, and many other details, giving lenders and investors a clear picture of a bor- rower's finances and simplifying the underwriting decision process. With greater accountability around ATR and QM, lenders and GSEs are focused on fraud mitiga- tion and regulatory compliance by accessing direct source data. AccountChek streamlines the cur- rent method of paper-based asset verification. AccountChek reduces buyback exposure and improves borrower satisfaction with the lending process. FormFree's flagship product, AccountChek, is a patented and award-winning consolidation, analysis, and verification service that utilizes more than 2,000 proprietary algorithms to generate asset and income reports on demand. AccountChek provides the only patented third-party asset verification acceptable to GSEs and leading investors. Yahoo Introduces Mortgage Rate Calculator Yahoo follows GooGle with the recent introduction of a mortGaGe rate calculator, and Yahoo's calculator offers a few resources GooGle's does not. Y ahoo launched a mort- gage rate calculator on its site, making it the second major search engine to do so. Google launched its mortgage calculator in February, but Yahoo's new tool offers a few features Google's lacks. Similar to Google, Yahoo's calculator shows up whenever anyone using the site enters the word "mortgage" or any similar terms in a search. The calcula- tor appears above actual search results but below any paid advertising. Google's mortgage calculator was introduced to give poten- tial homebuyers the ability to see what it might cost them to become a homeowner. Google said the tool let consumers ask questions like, "How much can I borrow at $200 a month?" or "At 5 percent APR how much can I borrow over 10 years?" and get answers without having to navi- gate to a separate website. Users could then change the interest rate, mortgage period, mortgage amount, or monthly payments to match their search needs. Yahoo's calculator can do all of those things and more. Not only does the Yahoo version allow users to input interest rate, loan term, and home value, but it also allows them to put in a down payment figure, something that is not included on the Google calculator. The Yahoo model also allows homeowners to get information on refinances. Perhaps the biggest difference between the two calculators is the interactive graph that comes with the Yahoo version. While giving the monthly total, Yahoo's model produces a line graph that shows the principal paid, interest paid, and principal remaining on the mortgage over the specified loan term. Users can then scroll over the graph and see how those figures will change on a month-to-month basis. Bing has yet to introduce a mortgage rate calculator as a part of its search engine. United Wholesale Mortgage Releases Elite Arm the new product offerinG is aimed at offerinG special rates to hiGh-fico score borrowers. M ichigan-based United Wholesale Mortgage (UWM), one of the na- tion's largest and fastest-growing wholesale lenders, released Elite ARM, a new loan product that was added to its Elite and Elite High Balance programs. First launched in 2012, Elite caters exclusively to well-qualified clients, providing preferred conventional rates and pricing for borrowers with high FICO scores. UWM's Elite family of products includes conventional fixed, conventional high balance fixed, and now ARMs. In addition, its 5/1 ARM will be offered with a lower cap of 2/2/5, unlike most traditional ARMs that require a 5/2/5 cap. "Our new Elite ARM product is a natural addition to our Elite program, which offers the absolute best pricing for the best qualified borrowers," said Mat Ishbia, president and CEO of UWM. "This new product enables our broker partners to help get their borrowers the best option that fits their needs. It gives our clients an edge over the competition." Program Highlights: Conventional and Conventional High-Balance Loans • Fixed or 5/1–7/1 ARMs • Loan amounts from $250,000 – county loan limit • 760+ FICO • Up to 80 percent LTV • PIWs honored through DU UWM underwrites and provides closing documentation for residential mortgage loans originated by mortgage brokers, banks, credit unions, and cor- respondents. "[elite ARM] enables our broker partners to help get their borrowers the best option that fits their needs. It gives our clients an edge over the competition." —Mat Ishbia, president and ceo of uwm

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