RICO Expert Talks About UWM Class Action Lawsuit

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 is alleged that UWM participated in a pattern of racketeering activity by conspiring with brokers to withhold information from homebuyers while misrepresenting material facts to get these consumers to use the mortgage giant while financing their properties. Jeffrey Grell, who wrote “Grell on RICO: A Practical Guide to the Racketeering Influenced and Corrupt Organizations Act,” has taught courses on the subject at the University of…