Caroline Gerardo, C. G. Barbeau the Loan Lady nmls 324982 (Sun West Mortgage Corporation)

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Rainmaker
1,163,908
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Never heard a thing about til your post, can't see how it would affect me, I work with Jason E. Gordon to avoid b.s, like this.

Mar 15, 2021 05:35 PM
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4,054,753
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Interesting but, thankfully it doesn't impact my clients...or me!

Mar 15, 2021 09:35 PM
Ambassador
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Bad business practice... it will come back to bite them.

Mar 15, 2021 07:47 PM
Rainmaker
396,640
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

I have had nothing but trouble with Rocket Mortgage and would run away from them as fast as you can !!

Mar 15, 2021 06:11 PM
Rainmaker
1,357,093
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Interesting.  Hasn't impacted us.

Mar 15, 2021 05:01 PM
Rainmaker
543,564
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

I'm on the sidelines watching, but I can definitely see how the news is dividing the mortgage broker community. I've seen some pretty heated arguments from both sides.

Mar 15, 2021 06:28 PM
Ambassador
5,171,975
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I cant imagine our broker requiring us to go to any mortage company, not even kw mortgage.

Mar 15, 2021 05:12 PM
Rainmaker
2,008,349
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I try to avoid most Internet Lender

Mar 16, 2021 05:13 AM
Rainmaker
3,357,050
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I don't even understand what is being asked, haha.  It is a foreign language to me.  Must be a lending thing and I leave lending things to my trusted lenders.

Mar 16, 2021 05:07 AM
Rainmaker
865,731
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

This trend is becoming more noticiceable in all aspects of the USA market place with the grandfarther of them all, NAR and its afilliated associations. And that has essentially eliminated consumer choice.
You don't get microsoft help at the Apple store.
Or have real atternatives to Google or Facebook.
In this instance, consumer choice will be the victim and that means things will become more expensive for someone.
I do expect that if LO and brokers choose to not play ball that will mean anohter 6 pages  for the buyer to initial and sign.
Much like the consumer saying "I don't want to buy the home warranty!" then compelled to sign 3 pages stating the same.
Rocket has experiened incredible success. Now we get to see if their aggrogance leads to their demise.

Mar 16, 2021 05:04 AM
Rainmaker
962,353
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Seems to be they don;t like competition. But what do I know? (don't dell compelled to answer that...lol)

Mar 16, 2021 04:46 AM
Rainmaker
3,981,248
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

No skin in this game. But, how many of you have gone to a Chrevrolet dealer to buy a Ford? The choice still lies with the consumer. And affiliation lies with the agent!

Mar 16, 2021 04:03 AM
Rainmaker
863,263
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Paywall!

Mar 15, 2021 04:30 PM
Rainmaker
1,693,363
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

This sounds like a fishy practice. Business is business & this says to me 'pick our way or the highway'. Is not consumer friendly but this is a step away from the consumers touch. This is the next step for the loan, not the consumer.

Mar 16, 2021 05:50 AM
Rainmaker
1,374,208
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Much to the dismay of a small percentage of American's it is still pretty much a free country.

If they want that business model and can succeed, so be it.

 

Mar 16, 2021 05:22 AM
Ambassador
2,992,541
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I was not aware of it before reading this. No impact on me or my clients. 

Mar 16, 2021 08:41 AM
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

The only thing to do is educate the client regarding the pitfalls of using either one and refer one that can get it done and hold themsleves accountable for the intended end result.

Mar 16, 2021 09:25 AM
Rainmaker
6,319,669
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for the link.

Mar 16, 2021 08:31 AM
Rainmaker
4,695,599
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Have not heard about any of this, but use 3 trusted lenders.

Mar 16, 2021 06:45 AM
Ambassador
949,224
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

I think Ishbia stepped in it - but the reality is, all it's done is helped shed negative light on his own industry, and helps mortgage bankers, because the facade that "as a broker I can take your loan ANYWHERE", is now being shown for the lie that it is.

I have some broker friends really frustrated because some of the LOs in their shop prefer one over the other.

In my opinion, people should have not signed the agreement - UWM would have simply been forced to walk it back.  

 

What happens when Ishbia unilaterally decides to add another company to his 'list'...then another?  Then another?  I don't like it.

Mar 17, 2021 10:46 AM
Rainmaker
873,338
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

Thanks for bringing this issue to my attention. I'm wondering if this is only a short-term kerfuffle or if it will continue until it hurts both entities.

Mar 16, 2021 09:18 PM
Rainmaker
569,999
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

UWM looks like they have a marketing nightmare on their hands. The public wants what's best for THEM. 

Mar 16, 2021 10:13 AM