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Is "AUTOMATIC WITHDRAWAL, UNITEDWHOLESALE LOAN PAYMT W" fraud?

Written by Piper Hall

June 18th, 2024

About "AUTOMATIC WITHDRAWAL, UNITEDWHOLESALE LOAN PAYMT W"

United Wholesale Mortgage (UWM) is a company that has been in business since 1986. It operates in the mortgage lending industry, focusing on providing loans through wholesale relationships with mortgage brokers, correspondent lenders, and financial institutions. UWM offers a variety of mortgage products including conventional loans, government-backed loans such as FHA and VA loans, and Jumbo loans. The company also provides tools and resources aimed at helping brokers streamline the mortgage application and approval process.
  • **AUTOMATIC WITHDRAWAL**: Indicates the transaction is an automatic or recurring withdrawal.
  • **UNITEDWHOLESALE LOAN PAYMT**: Specifies the payment is for a loan from United Wholesale.
  • **WEB**: Denotes the transaction was conducted via the web (online).
  • **(R)**: Implies the transaction is recurring (happens regularly).
  • Find & fight fraud from anywhere

    Verify With Receipt

    The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for United Wholesale Mortgage.
    Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn’t match.
    Step 1

    Connect your email

    Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.
    Step 2

    Connect Your Bank

    Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.
    Step 3

    Reconcile

    Reconcile the charges reported by your financial institution against what you’ve recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.
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