Industry Watch: Additional lawsuits tied to UWM and more

The wholesale division at Mountain West Financial launched a new broker-partner educational series titled “Broker Power Learning.” At 9 a.m. PST on the first Wednesday of each month, Mountain West will put on a recurring, interactive, educational training session on topics relating to the mortgage industry. The first guest, set for the session on Wednesday, March 2, is Nancy Obando, Mountain West’s senior vice president of strategic products and affordable lending.

Geneva Financial announced the opening of a new branch in Clovis, California, led by branch manager Alexis Davis.

United Wholesale Mortgage (UWM) filed two more lawsuits against broker shops that have allegedly broken an agreement not to do business with Rocket Mortgage and Fairway Independent Mortgage. The two shops, Kevron Investments Inc. and Mid Valley Funding & Inv., both based in California, are being sued for $310,000 and $110,000, respectively, in addition to interest and attorney fees. Meanwhile, America’s Moneyline, which UWM sued for the same reason earlier this month, filed a countersuit against UWM, raising a challenge against the legality of what it called a “loyalty pact” by the wholesale lender.


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