UWM EXAM QUESTIONS AND
ANSWERS
, 1. Which type of compensation will appear on
Borrower Paid
the CD as a dollar amount?
2. What is the benefit of Elite loans? Some of the best pricing in the country
without compromising service.
3. What is the tool that allows clients to cus- Client Communication Preferences
tomize their communication?
4. Which of the following does Docless offer? All of the above
5. What is Processor Assist? A team within UWM that helps brokers
and processors gather needed docu-
ments
6. Once the initial 1003 has been signed, how 3 Days
long does the broker have to issue the initial
loan estimate?
7. UWM's max LPC is 2.75% True
8. Which three items make up the UWM Notice Electronic Delivery Consent
of Intent to Proceed? Appraisal Delivery Waiver
Intent to Proceed
9. UWM allows escrow waivers at no cost up to False
a 90% LTV.
10. What is BLINK? Broker-branded loan application portal
11. What purpose does the SPL serve? Lists ditterent service providers the bor-
rower can shop for.
12. $650
ANSWERS
, 1. Which type of compensation will appear on
Borrower Paid
the CD as a dollar amount?
2. What is the benefit of Elite loans? Some of the best pricing in the country
without compromising service.
3. What is the tool that allows clients to cus- Client Communication Preferences
tomize their communication?
4. Which of the following does Docless offer? All of the above
5. What is Processor Assist? A team within UWM that helps brokers
and processors gather needed docu-
ments
6. Once the initial 1003 has been signed, how 3 Days
long does the broker have to issue the initial
loan estimate?
7. UWM's max LPC is 2.75% True
8. Which three items make up the UWM Notice Electronic Delivery Consent
of Intent to Proceed? Appraisal Delivery Waiver
Intent to Proceed
9. UWM allows escrow waivers at no cost up to False
a 90% LTV.
10. What is BLINK? Broker-branded loan application portal
11. What purpose does the SPL serve? Lists ditterent service providers the bor-
rower can shop for.
12. $650
