By KIMBERLEY HAAS United Wholesale Mortgage is being sued by Ohio Attorney General Dave Yost, who accuses the lender of conspiring with brokers to rip off consumers. “Buying a home is hard enough without having to worry about a lender scheming behind your back,” Yost said in a statement. “This predatory business practice has no place…
California-based Equity Smart Homes Loans is ditching United Wholesale Mortgage for Rocket Pro. Rocket wins a major brokerage in the move. Equity Smart employs 435 loan officers who originated more than 1,600 loans in 2024, National Mortgage Professional reported. CEO Pablo Martinez told writer Katie Jensen at NMP that it was a difficult decision to…
United Wholesale Mortgage is partnering with Google Cloud to modernize the mortgage lending industry through the use of artificial intelligence. The companies will collaborate by combining Google Cloud’s AI and data analytics with UWM’s “expertise in innovative lending technical solutions” to streamline the borrowing process. “We are incredibly proud to enter into this transformative partnership…
UWM Holdings Corporation named Rami Hasani as its new Chief Financial Officer. Hasani joined the company in November of 2020 as Vice President of Financial Reporting and Compliance. “I am honored to step into this new role and grateful for the trust placed in me,” he said in a statement. “Having grown with this company…
By KIMBERLEY HAAS As 2024 comes to a close, we are taking a look at what had the most impact on our audience this year. Articles and podcasts about advancements in technology, the National Association of Realtors settlement, and a class action lawsuit against United Wholesale Mortgage top the list. Advancements In Technology Technology and…
By KIMBERLEY HAAS Lawyers for the plaintiffs in a class action racketeering lawsuit against United Wholesale Mortgage are opposing efforts to have the case dismissed. It is alleged that UWM consumers were duped into overpaying for their loans by brokers who sent most of their business to the lender. 8,665 loan officers at mortgage brokers…
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 JARED WHITLEY Where’s the line between sound business strategy and ethical violations? What’s the difference between vertical integration and breaking the law? Those are the questions being raised about a United Wholesale Mortgage (UWM) website called MortgageMatchup.com. The Consumer Financial Protection Board (CFPB) is in the process of determining how the Real Estate Settlement…
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…
United Wholesale Mortgage unveiled looser cash-out refinance guidelines to boost business, but some analysts worry it could stretch homeowners too thin. UWM launched a new 90% LTV cash-out refi that doesn’t require insurance. It’s painted as a way to “win more business and gain valuable referrals while helping borrowers take full advantage of their home…
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