realtor lawsuits

UWM Releases 2023 Results, CEO Emphasizes Strength Of Broker Channel

Posted on by TMN Editor
By KIMBERLEY HAAS The chairman and CEO of United Wholesale Mortgage says they will continue to assert market dominance in 2024 as the company remains 100% committed to the success of the broker channel. Mat Ishbia spoke during an earnings call on Wednesday after leaders at UWM reported a net loss in 2023 of $69.8 million – inclusive of a $854.1 million decline in fair value of MSRs – and a diluted loss per share of $0.14. In 2022, the company’s net income was $931.9 million. Total loan originations for 2023 were $108.3 billion, of which $93.9 billion was purchase volume. In comparison, originations were at $127.3 billion in 2022. Ishbia started his comments by saying 2023 wasn’t one of…

Value Of Realtors Hot Topic In Wake Of Legal Actions

Posted on by TMN Editor
By CHUCK GREEN and KIMBERLEY HAAS The full impacts of legal actions being taken against the National Association of Realtors are still not clear, but industry leaders are advocating for agents, saying they offer valuable expertise. In October, a Missouri jury ordered the association and two of the nation’s biggest real estate brokerages to pay almost $1.8 billion in damages after they found that commissions were artificially inflated to pay agents. Fresh off winning the verdict, attorneys for the plaintiffs filed a new lawsuit seeking class-action status covering anyone in the country who sold a home in the last five years. NAR’s President Tracy Kasper said in a statement at the time that they will appeal the liability finding, and…