UMortgage Sets New Standard in Veteran Mortgage Support, Serving 240% More VA Borrowers than the Average Lender
Published: May 23, 2024
UMortgage Sets New Standard in Veteran Mortgage Support, Serving 240% More VA Borrowers than the Average Lender
PHILADELPHIA, PA., May 23, 2024 — Since its establishment in 2020, UMortgage has focused on expanding access to homebuying opportunities for military community members by building an experienced team of VA loan specialists. Today, the platform has seen incredible progress toward that goal, serving 240% more veterans than the average lender according to data from the Department of Veteran Affairs.
While there has been plenty of progress toward becoming the mortgage industry's greatest advocates for veteran homeownership, it is only the beginning of the foundation being laid by the UMortgage Veterans Alliance.
Statistics from the Home Mortgage Disclosure Act show that nearly 71% of current service members plan to buy a home in the next 5 years and more than 50% anticipate purchasing a home in the next 2-to-3. However, according to the Department of Veteran Affairs, only 20% of veteran households nationwide purchased their home with their VA benefits.
To continue progressing toward a better future for VA homebuying, UMortgage welcomed Patton Gade, the 2023 Scotsman Guide #1 VA Originator, to lead its Division of Military Lending in November 2023.
Now 6 months into his leadership position, more than 30% of UMortgage’s total loan volume in 2024 accounts for VA loans originated by its continuously growing team of VA experts — a signal of tremendous progress made by the leading mortgage platform.
“Since I joined UMortgage, we’ve grown our overall percentage of VA loans originated through comprehensive education and a focus on the unique needs of our VA borrowers,” said Gade. “While we’ve made progress, there’s plenty more work to do. The VA home loan benefit is one of the strongest loan products in the mortgage industry, but there’s still widespread misinformation throughout the industry preventing millions of active-duty and veteran homebuyers from utilizing it.
“We’re going to keep educating our LOs and their agent partners to eradicate these negative narratives and help the members of our military community achieve their dreams of homeownership with the benefits that they earned.”
UMortgage regularly hosts VA-specific training opportunities for its Loan Originators, with a 2-day VA-centric session being held in late June. These efforts continue to support the positive change in the narrative surrounding VA loans to ensure buyers feel confident, informed, and supported in using their deserved VA benefits when purchasing a home.
The Loan Originators who represent UMortgage’s Division of Military Lending and the UMortgage Veterans Alliance are spearheading this positive change. Schedule a 1-on-1 with a UMortgage leader to learn more about the ways that UMortgage is changing the national narrative surrounding VA loans and how you can play a part in this positive change.
About UMortgage:
UMortgage is a national mortgage platform on a mission to create life-changing opportunities through homeownership. With Loan Originators licensed from coast to coast, an expansive suite of lenders to shop from, and a quick, clear, & communicative homebuying process, UMortgage is ushering in a modern mortgage experience catered to all homebuyers.