A recent lawsuit has brought attention to the alleged failure of Mortgage Solutions to reimburse United Wholesale Mortgage (UWM) for at least 12 loans that were paid off within 180 days. The case claims that UWM has not been reimbursed for these mortgages, which have a reported balance of $124,011.37 as of December 1, 2023.
Key points from the lawsuit include:
• Mortgage Solutions is accused of failing to reimburse UWM for a number of loans.
• At least 12 loans are said to have been paid off within 180 days without reimbursement.
• The balance of these mortgages is alleged to be $124,011.37 as of December 1, 2023.
• The lawsuit highlights the issue of non-payment and potential financial losses for UWM.
This legal action sheds light on the potential consequences for mortgage industry players when loans are not properly reimbursed. Both Mortgage Solutions and UWM will likely face scrutiny as the case unfolds, emphasizing the importance of timely and accurate reimbursement practices within the industry.
You can read this full article at: https://www.housingwire.com/articles/uwm-sues-mortgage-solutions-and-its-owner-over-epos-trademark-infringements/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
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