It has been well-documented both in the media and in this blog about the anti-consumer impact of United Wholesale Mortgage’s “All-In” Initiative. America’s MoneyLine (AML) though, in its countersuit, has sought to highlight another devastating effect of Mat Ishbia’s ultimatum: its anti-competitive and antitrust violations. AML highlights these issues in its court filing: “UWM’s conduct…
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America’s Moneyline Advocates for Brokers
Independent Brokers will not back down without a fight. America’s Moneyline (AML), a California-based brokerage announced that it filed a countersuit in response to United Wholesale Mortgage (UWM), after the lender attempted to sue AML for supposedly violating UWM’s unfair “All-In” Initiative. AML is advocating for brokers and consumers who seek choice in the broker…
Losing the “Right of Choice”: UWM’s “All-In” Initiative One Year Later
Nearly a year ago, United Wholesale Mortgage CEO Mat Ishbia issued an ultimatum— as part of the company’s “All-In” Initiative” – that restricted mortgage brokers who wanted to work with UWM from working with two of UWM’s top competitors, Rocket Pro TPO and Fairway Independent. Essentially, the Ishbia plan restricts consumer and broker choice in…
UWM Colludes with former AIME CEO — Harming Consumers
United Wholesale Management CEO Mat Ishbia is facing renewed scrutiny for his ultimatum to brokers to prevent consumer choice. In yet another example of his behavior to impede hard-working Americans, Ishbia has chosen to work with his friend Anthony Casa against hard-working independent broker channels. Longtime Politico Jared Whitley highlights these questionable behaviors in his…
UWM’s Numbers Don’t Add Up
We have explored expert concerns with UWM’s move in the past. Now, we are taking a look at some of the numbers that have been reported since UWM’s move. And they raise some interesting questions. UWM missed their goal of enlisting 80% of brokers into signing their addendum barring brokers from doing business with Rocket…
Experts Are Speaking Out: Continued
As more time passes since United Wholesale Management CEO Mat Ishbia issued his ultimatum to brokers, more and more expert voices are voicing concern for what the decision may mean for the mortgage industry. One expert, Dave Stevens, wrote in Housing Wire, warning of the dangers of UWM’s move: Whatever the intent was behind this…
Experts Are Speaking Out
Expert voices have not let news of United Wholesale Mortgage (UWM)’s recent move go unnoticed. In a piece in which he explores some of the recent dramatics of UWM’s CEO Mat Ishbia, financial analyst Jared Whitley points to recent performance of UWM’s stock as a clue for what might be behind the ultimatum. As Whitley…
Take Action Today to Save Broker Choice & Protect Consumers
Today we are launching a new campaign to help Save Broker Choice and protect American consumers. Recently the CEO of the country’s biggest whole mortgage lender, Mat Ishbia, told brokers across the nation that in order to work with him, they had to agree to not work with two of his biggest competitors. This…
Expert Rings Alarms Over UWM Move
Since we launched Save Broker Choice, more voices are speaking out about the dangerous move by United Wholesale Mortgage CEO Mat Ishbia’s move to stifle competition in the mortgage marketplace and hurt American consumers. Today, we are highlighting some of the comments made by former Bush Administration official and political commentator Peter Roff. As Roff…
Limiting Mortgage Brokers’ Choices is Bad for Brokers and Consumers
A recent demand from the CEO of the country’s largest wholesale mortgage lender could have significant consequences for Americans looking to buy or refinance their home by reducing the number of options for consumers shopping in the mortgage market. In a recent Facebook Live video, United Whole Mortgage (UWM) CEO Mat Ishbia made a stunning…