Summary:
In a recent development within the mortgage industry, it has come to light that United Wholesale Mortgage (UWM) is accusing Atlantic Trust of submitting a substantial number of loans to its competitors. UWM claims that Atlantic Trust has allegedly sent at least 71 loans to rival lenders, resulting in significant financial damages of approximately $335,000.
The accusation poses a significant challenge for Atlantic Trust, as it not only undermines the trust and business relationship with its clients but also raises questions about its ethical practices. UWM’s claims may have substantial implications for Atlantic Trust’s reputation within the industry, potentially impacting its ability to secure future partnerships and retain existing clients.
Key Points:
– United Wholesale Mortgage (UWM) accuses Atlantic Trust of submitting loans to rival lenders
– UWM claims Atlantic Trust submitted at least 71 loans to competitors
– The alleged submission resulted in financial damages of around $335,000
– The accusation raises questions about Atlantic Trust’s integrity and ethical practices
– Atlantic Trust’s reputation within the industry may be at risk, affecting its future partnerships and client retention efforts.
You can read this full article at: https://www.housingwire.com/articles/uwm-sues-another-broker-shop-over-the-ultimatum/(subscription required)
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