The controversial ultimatum United Wholesale Mortgage (UWM) issued to brokers in March constituted a violation from the Sherman Act along with a assortment of anti-competition regulations within the state of Florida, a St. Augustine-based mortgage dealer alleges inside a brand new lawsuit that seeks class-action standing.
Dan O’Kavage, president and founding father of the O’Kavage Group, is the lead plaintiff inside a lawsuit that claims UWM’s gambit was anticompetitive and unlawful.
“I’m combating again towards UWM because of my freedom and independence, the rationale my shoppers select to work with me, has been stripped away,” O'Kavage mentioned inside a pr release. “If I did not need to operate within an unbiased vogue, I’d work on the retail part of the trade and work in-shop for one of many main lenders. Which was by no means something I thought-about nor required to do. I love being native. I like supporting my neighbors and neighborhood. UWM is stripping my freedom to become an ideal mortgage officer in my shoppers.”
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The set up Dealer lawsuit targets UWM’s ultimatum appeared first on HousingWire.