Hunterbrook Hits UWM, UMortgage With Shell Scheme Claims
By KIMBERLEY HAAS
Hunterbrook Media is taking a second swing at United Wholesale Mortgage, claiming that an executive there helped a shell company establish Philadelphia-based UMortgage.
On April 2, Hunterbrook made waves when they published a report accusing UWM in Pontiac, Michigan, of widespread fraud. They estimated that homebuyers paid “between hundreds of millions and billions more in closing costs” because independent mortgage brokers working with UWM sent more than 99% of their business to the lender.
UWM’s CEO Mat Ishbia blew off the report at the time, pinning blame for it on his competitor Rocket Mortgage and its founder and chairman, Dan Gilbert. Rocket Mortgage denied having any involvement with the report.
The following week, UWM leaders went after…