Uwm Cuts Costs For Refinance Borrowers With Update To Title Fees

United Wholesale Mortgage (UWM) is cutting costs for refinance borrowers with updates to its title review and closing alternative, TRAC+. The lender is offering title fees as low as $1,295 along with a $500 borrower incentive.

TRAC+ allows UWM to handle all title work on refinances directly for its broker partners — eliminating the need to coordinate with a title company or settlement agent for balancing fees, scheduling closings and related tasks.

The first version of TRAC, launched in October 2022, had a $1,600 flat fee plus a settlement agent fee of up to $500. TRAC+, announced in May 2024, offered a $1,850 flat fee, with no settlement agent fee. 

Wednesday’s update reduces the title fee to as low as $1,295, depending on the state and loan amount. The $500 incentive can be applied as a pricing credit, listed on the Closing Disclosure (CD), or issued as a check to the borrower.

Brokers also gain access to additional perks: UWM is offering 9,500 points — which can be redeemable for a $300 gift card to help borrowers cover post-closing expenses — as well as virtual closings with notaries available 24/6. Closing packages can be issued in as little as 15 minutes from clear-to-close, with UWM balancing the CD.

In November 2024, UWM also introduced TRAC Lite, which features a $0 title fee and reduced settlement agent fees ranging from $350 to $600. The lender was among those selected to participate in Fannie Mae’s title insurance waiver program.

Both TRAC+ and TRAC Lite are now available in 37 states.
UWM recently also raised the one-unit conforming loan limit from $806,500 to $819,000 for conventional and Department of Veterans Affairs (VA) loans, ahead of the Federal Housing Finance Agency (FHFA) announcement in November. It also extended a 90 basis-point incentive for rate-and-term refinances until Oct. 31.