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…
Community Mortgage Brokers is joining the mortgage platform UMortgage.
The Springfield, MO, brokerage will operate under the name UMortgage Springfield and act as a branch of the company.
It will benefit from UMortgage’s platform in return, expanding its offerings across its Missouri and Colorado offices while providing faster access to more affordable mortgages.
“We’re thrilled about the opportunities that we’ll be able to offer our clients with this partnership with UMortgage,” said Andrew Chavez, UMortgage Springfield Branch Manager.
“The UMortgage platform will empower us to offer more competitive rates, a wider range of loan products, and faster turn times to help give our clients more buying power and get into their homes quicker. These advantages not only make the homebuying…
Wilmington, NC-based MC Mortgage Group is joining mortgage platform UMortgage, the company announced.
MC Mortgage serves homebuyers in North and South Carolina. The company was named MPA Top Employer and Lender and Wilmington Cape Fear Home Builder’s Association’s Lender of the Year in 2021.
The company was founded in 2005 by President Patrick Stoy, a seasoned mortgage veteran with nearly 25 years of experience as a broker. He was named a UWM Top 1% Broker and a Top-100 Purchase LO with UWM in 2022. In 2021 he was named Mortgage Professional of the Year by the North Carolina Home Builders Association.
“Being that I’ve been a true independent mortgage broker since 2005, this platform will allow me the opportunity to…
Todd Bitter has joined UMortgage as its Chief Sales Officer, the company announced. Bitter is one of the country’s top-producing purchase-focused LOs, having built his own business while acting as a champion for the broker channel. He has been ranked the #1 purchase originator within the broker channel in Arizona and recognized by United Wholesale Mortgage as a top-10 broker nationally from 2015-2021. “The best place for a consumer to get a mortgage is with a local independent loan originator and the best place for a local independent loan originator to serve their customers is through the UMortgage platform,” Bitter said. “I am passionate about helping loan originators get better, build better businesses, and become the best version of themselves.”…
