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UWM sued over ‘corrupt’ scheme with brokers to steer loans

Housing Wire

mortgage lender United Wholesale Mortgage (UWM) is the target of a class-action-seeking lawsuit alleging it orchestrated a scheme with mortgage brokers to apply excess fees and costs to borrowers. The wholesale lender called the accusations a “sham.” The accusations were made against the lender, its parent company UWM Holdings Corp.,

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UWM returns to the Super Bowl with new ad

Housing Wire

The wholesale lender will be running a new Super Bowl commercial spotlighting independent mortgage brokers and its website FindAMortgageBroker.com for a second straight year. UWM, now the second-largest mortgage lender in America, made its Super Bowl debut last year. Afterward, it touted the benefits of using a mortgage broker.

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UWM to block brokers working with Fairway and Quicken

Housing Wire

United Wholesale Mortgage , the top wholesale lender in the nation, announced on a Facebook live Thursday that it will no longer partner with brokers who also work with Rocket Mortgage and Fairway Independent Mortgage Corp. If you work with them, can’t work with UWM anymore, effective immediately,” Ishbia said.

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Texas: 85% of Homebuyers Overpay for Their Mortgage Rates

Realty Biz

Texas's top ten mortgage lenders collectively hold over 47% of the market share. Source: Competitive Home Lending Despite the potential for significant cost savings these mortgage lenders offer through local mortgage broker channels, fewer than 30% of borrowers are currently taking advantage of these savings. "It

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NYC Home Pros, Where Homeowners and Service Pros Find Each Other

Brownstoner

Since NYC Home Pros launched six months ago, homeowners in every borough can find and book contractors, architects, agents, lenders and other home services professionals — effectively, a one-stop shop. The concierge-hosted directory service also offers targeted exposure for businesses in the home purchase/finance/renovation/repair space.

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What is “Hard Money” in Real Estate Investing?

Realty Biz

In the traditional sense, hard money lending means a lender with a short-term loan to an investor or developer, typically for use as a down payment on a property. In recent years, however, many lenders have begun offering hard money loans that are easier to obtain and have lower interest rates due to changes in lending regulations.

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Why Building Vendor Partnerships Is Critical to Your Business

RIS Media

Potential vendors, like lenders, home inspectors, movers and beyond, are likely to refer clients to you or even be on the home hunt themselves one day. If you’re just starting out or reevaluating your current trusted vendor list, be sure to include: Financial and legal services, like attorneys, lenders, mortgage and insurance brokers.