Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the housing crash and 2007-09 Great Recession, UWM’s zero-down loans have to meet criteria set by mortgage giant Freddie Mac. Continue reading
Nation’s largest mortgage lender says brokers “will no longer need to work with a title company or settlement agent for title work, balancing fees, scheduling closing or any related communication.” Continue reading
Lawsuit alleges search results on Mortgage Matchup are “designed to steer borrowers to brokers who funnel nearly all their business to UWM, regardless of whether UWM offers the most competitive loan terms.” Continue reading
Q1 net earnings of $180.5 million were boosted by the sale of $70 billion in mortgage servicing rights (MSRs) and a $141 million markup in the value of the $230 billion in MSRs UWM retained. Continue reading
On its quest to reclaim the title of nation’s biggest mortgage lender, Rocket didn’t sacrifice profits, generating $291 million in net income as revenue grew 107 percent from a year ago, to $1.38 billion. Continue reading
As mortgage heads from UWM and Rocket fight it out in the press, it seems like both agents and consumers are just wondering how they’re going to pay the bills. Continue reading
Most new franchisees signing up for Motto’s “mortgage brokerage-in-a-box” solution are real estate brokerages and teams that aren’t affiliated with RE/MAX. Continue reading
Citing recent court victories, UWM says, “It is not uncommon nor illegal for a broker to send most or all of their business to a specific lender.” Continue reading
Hunterbrook Media founder dismisses Ishbia’s take as “baseless conspiracy theory”, while Rocket says it and founder Dan Gilbert have no financial interests or relationship to Hunterbrook. Continue reading
United Wholesale Mortgage denied explosive allegations that many mortgage brokers who send it business aren’t shopping around for best deals. UWM dismissed a related lawsuit as “a sham.” Continue reading