Sunday, 11 April 2021 | The Latest Buzz for the Appraisal Industry

UWM & Rocket both declare victory in broker war

In the wake of an ultimatum that mortgage brokers couldn’t use Rocket Pro TPO and Fairway Independent Mortgage while still sending loans to United Wholesale Mortgage, Mat Ishbia declared victory.

In a statement issued after Monday’s deadline, the president and CEO of UWM said that more than 10,000 broker shops have pledged to no longer work with Rocket and Fairway, whom he said have been working behind the scenes to destroy the broker channel.

“I’ve received hundreds of calls and emails from mortgage brokers across the country and have been blown away at the positive response we’ve received, along with the sheer number of shops who have locked arms with us because they felt it was the right thing to do,” Ishbia said. “We’re going to be able to look back at this as a pivotal moment that helped catapult independent mortgage brokers’ growth.”

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The post UWM & Rocket both declare victory in broker war appeared first on HousingWire.

Original Post: https://www.housingwire.com/articles/uwm-rocket-both-declare-victory-in-broker-war/

Author: Housing Wire

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