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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.”
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Forget the Super Bowl — the NBA is now where it’s at for wholesale lending giant United Wholesale Mortgage’s efforts to market mortgage brokers as the best way to find a loan.
UWM’s consumer-facing Mortgage Matchup website — a searchable database that helps consumers find a local mortgage broker — is the official mortgage partner of the NBA and WNBA, the leagues and UWM announced jointly Thursday.
But Mortgage Matchup also features prominently in a lawsuit alleging UWM has “corrupted” mortgage brokers by prohibiting them from sending business to competitors.
Search results on MortgageMatchup.com 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,” the lawsuit claims. “Conversely, brokers who do not funnel loans to UWM can expect UWM … to decrease the number of borrowers that seek their services.”
UWM, the NBA and the WNBA did not respond to requests for comment about those accusations.
Originally launched as FindAMortgageBroker.com in 2015 by Woodward Loop Properties LLC, UWM took control of the site in 2018 and rebranded it as Mortgage Matchup in January.
Before rebranding the site, UWM promoted it in ads that aired during the 2020 and 2021 Super Bowls that helped UWM surpass its rival Rocket Mortgage — also a prominent Super Bowl advertiser dating back to the days when it was known as Quicken Loans.
But with UWM CEO Mat Ishbia acquiring the Phoenix Suns and its sister WNBA team, the Phoenix Mercury, last year, UWM’s beef…
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