Mat Ishbia, CEO of UWM, said the wholesaler consulted internal and external counsel before making the decision and that there are no concerns. However, industry insiders think otherwise.
One of the objectives of the REO program is to strengthen neighborhoods and communities through alternative sales programs. However, the FHA “lacks metrics and targets” to successfully do so, the Government Accountability Office said in a recent report.
The American Rescue Plan provides $10 billion to help consumers catch up on mortgage payments or pay other housing-related costs. However, how the money is allocated will depend on states.
As we went to press Thursday, Fairway declined to comment but a Quicken spokesman had this to say: "It’s disingenuous that two of the three brokers in this [UWM] press release have done no appreciable business with Rocket Pro TPO. How is this newsworthy in any way? So the news here is that brokers that are already in Mat’s camp are signing with him? That’s intentionally misleading"...
MBA's Broeksmit was reacting to a Facebook speech delivered by Ishbia who gave the company’s broker/partners an ultimatum: If they work with Rocket Mortgage or Fairway Independent Mortgage, they can’t work for UWM.
The nation’s largest table-funder, United Wholesale Mortgage, is giving its broker partners an ultimatum: If they work with Rocket Mortgage or Fairway Independent Mortgage, they can’t work for UWM.