Launching BOLT: A Q&A with Melinda Wilner and Jason Bressler

Fall is always a busy time at UWM, but September was something like never before. Launching BOLT, The Source and UWM Appraisal Direct meant that for many of our team members in IT, they were able to witness their months of hard work come to life.

The reactions from our clients have been overwhelmingly positive – but we’re not surprised. At UWM, we don’t launch technology for technology’s sake. We listen to our clients and build technology that is going to make their lives easier and help them grow their businesses. We’ve been disrupting the industry for years, but one of our latest innovations takes our industry-leading speed into hyperdrive.

BOLT is an industry-first feature that handles data extraction, automatic document recognition and smart technology to input information from items such as driver’s licenses, income statements and county records. BOLT lets our partners obtain an initial approval for qualified borrowers in just 15 minutes. Sometimes, it’s even faster. Our current record is 7 minutes!

Launches like BOLT take an extraordinary amount of effort and ingenuity. We’re excited to hear from our Chief Operating Officer, Melinda Wilner, and Chief Technology Officer, Jason Bressler, on BOLT’s impact and what went into its launch.

1.    How did the BOLT concept come together? Why was it necessary for our business and clients?

Melinda: Today, nobody wants to wait for anything! BOLT came together because we know how important speed and control are to our clients. It’s a completely proprietary technology that would normally take years to build, but our IT team helped build it in a fraction of the time.

2.    How many team members had a role in the launch?

Jason: Throughout the entire process, almost 750 team members across the business were involved in bringing BOLT to life. There was so much coordination and teamwork to make it great.

3.    We recently started implementing cross-functional app development teams this year. How did that impact the launch of BOLT?

Jason: Cross-functionality is the key to success. Self-organized teams, team leads, developers, BAs, QAs and scrum masters worked together and collaborated with server and cloud administrators, database developers, security architects and release management to make this a successful launch. As a team, we set our vision and architectural design of how BOLT would look but like with any project of this magnitude and proportions, we had to constantly pivot and make sure we were building the best technology possible.

4.    For partners who choose to use it, BOLT becomes the first step in the underwriting process. How did this impact our existing underwriting process? 

Melinda: For a lot of our broker partners, control is key. With our guardrails in place, BOLT puts brokers in the driver’s seat of the initial approval process. Just like UClose gives UWM clients control over the closing process, BOLT quickly gives brokers with qualified borrowers an initial approval. Within hours, our UWM team will validate their work, resulting in less touches and a happier client and borrower.

5.    What else helped contribute to the team’s success?

Jason: The more an organization can commit to Agile, the more steps forward it takes in its journey. We were able to iteratively deliver solutions, absorb and incorporate feedback from our stakeholders and pilot groups to produce a product that not only were we proud of, but one that we can continue to enhance and grow. 

6.    What was the initial feedback when BOLT was announced at AIME Fuse?

Jason: It was incredible. It’s so amazing to hear how our technology helps the broker community, and how grateful our broker partners are. When BOLT was announced at AIME Fuse conference, everyone was in awe of how game-changing it would be. This is another tool we offer to help entrepreneurs grow their business.

7.    This month you will celebrate 10 years at UWM! How has UWM continued to stay innovative?

Melinda: One of the most important things we do at UWM is listen to our clients’ needs and take immediate action. We are all problem solvers and thumb pointers who take continuous improvement personally. I’m incredibly proud of Jason and the entire IT team whose ingenuity and dedication are what made BOLT’s launch such a success. I know I’m not alone in saying that this is the most talented and innovative team in the business!

What our partners are saying:

“Initial approval in 15 minutes is a game-changer. This automation of the lending process puts the broker in the driver’s seat. I’ve been originating loans since 2005 and the last 6 years working with UWM has revolutionized my field.” – Whitney Bulbrook, President of Carolina Ventures Mortgage

“Bolt may be the most innovative idea to enter the mortgage space in the last decade. Congratulations to UWM’s team!” – Scott Allan, All American Home Mortgage