Rocket Mortgage claims United Wholesale Mortgage (UWM) owes servicing giant Mr. Cooper Group around $100 million for allegedly soliciting refinance business on mortgage loans that UWM had contractually sworn it would not.
And because parent Rocket Companies acquired Mr. Cooper last year, it claims UWM actually owes Rocket around $100 million, “or an amount to be determined at trial.”
The complaint, filed Thursday in the New York Supreme Court's commercial division, says the alleged “willful and wanton breach of non-solicitation contractual obligations” concerns three batches of mortgage servicing rights (MSRs) that Mr. Cooper purchased in bulk from UWM in 2024, which collectively backed roughly 182,000 residential mortgage loans.
Unpaid pri...