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United Wholesale Mortgage (UWM), under the ownership of Suns owner Matt Ishbia, is facing a proposed consumer class action lawsuit in the US. The lawsuit accuses UWM of collaborating with brokers to push home-buyers into expensive mortgages, resulting in billions of dollars in excess fees for the consumers. The lawsuit refers to UWM as a "steering enterprise". This case is part of a broader scrutiny on the mortgage industry, as evidenced by a separate antitrust case filed by homebuyer and homeseller Hao Zhe Wang, which alleges illegal tying of services by MLS and broker services.
Consumer class action accuses United Wholesale Mortgage of scheming with brokers to push home-buyers into expensive mortgages, costing them billions of dollars in excess fees The lawsuit calls UWM a "steering enterprise" https://t.co/5CTL13JoV4
Mortgage lender United Wholesale sued by consumers alleging billions in excess fees https://t.co/DzZX1bzNUY https://t.co/VqChqCzXBt
United Wholesale Mortgage was hit with a proposed consumer class action in US court accusing it of scheming with brokers to push home-buyers into expensive mortgages, costing them billions of dollars in excess fees https://t.co/IBLTtjZ5e0 @MikeScarcella https://t.co/yvcXFkoJio
