United Wholesale Mortgage announced a 60-day basis point pricing incentive for independent mortgage brokers. The program, “60 bps for 60 days,” is available for borrowers with a FICO score of 720 or higher through January 31, 2025. It applies to both conventional and government loans. This program is designed to help independent mortgage brokers stay…
By KIMBERLEY HAAS Lawyers for United Wholesale Mortgage have again moved to dismiss a class action lawsuit alleging that consumers were duped into overpaying for their loans by brokers who sent most of their business to the lender. They say the lawsuit reflects an unprecedented effort to smear UWM, its affiliates, and CEO Mat Ishbia…
By KIMBERLEY HAAS New court paperwork punches holes in claims made by United Wholesale Mortgage that a class action lawsuit brought against them was filed in bad faith. Lawyers for UWM say the lender became the victim of a coordinated campaign earlier this year when Hunterbrook Capital, its media arm Hunterbrook Media, and counsel for…
By JARED WHITLEY Is this Mat Ishbia’s “Vlade Divac” moment? Ishbia’s connections to basketball are well known, from his time on the 2000 Michigan State national championship team to his current “chaotic” ownership of the Phoenix Suns. And Divac, the Los Angeles Lakers star center, was also well known for “flopping” – pretending to have been fouled…
By KIMBERLEY HAAS Lawyers for United Wholesale Mortgage are questioning the integrity of a class action lawsuit that claims consumers were duped into overpaying for their loans by brokers who sent most of their business to the lender. In court paperwork filed on Sept. 17, lawyers for UWM say the lender became the victim of…
United Wholesale Mortgage rolled out a new technology to give brokers easy access to refinance opportunities. The system, KEEP, sends pre-validated refinance opportunities once mortgage rates shift to meaningfully save borrowers money. UWM says its goal is to help wholesale lenders capture refi opportunities in a saturated market. “In a refi market, you can expect…
By KIMBERLEY HAAS Leaders at United Wholesale Mortgage say consumers save thousands of dollars working with an independent mortgage broker while lawyers in a class action lawsuit continue to present evidence that the company duped borrowers into believing they got the best deal on their home loans. UWM issued a press release on Aug. 28…
By KIMBERLEY HAAS The CEO of UWM Holdings Corporation says Q2 2024 was another strong quarter for United Wholesale Mortgage and the wholesale channel. Mat Ishbia said in a statement that the wholesale channel market share is at a 15-year high and his company is in a prime position to capitalize and grow when interest…
By KIMBERLEY HAAS Lawyers for United Wholesale Mortgage have moved to dismiss a class action lawsuit alleging violations of the RICO Act. The lawsuit, filed on April 2 by Boies Schiller Flexner LLP, claims that UWM participated in a pattern of racketeering activity by conspiring with brokers to withhold information from homebuyers while misrepresenting material…
A lawyer who specializes in racketeering cases says independent mortgage brokers working with United Wholesale Mortgage may have misled clients, but that doesn’t mean the company and its CEO Mat Ishbia will be found liable for violating the RICO Act. In a class action lawsuit filed on April 2 by Boies Schiller Flexner LLP, it…
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