United Wholesale Mortgage is closely monitoring a recently created Facebook group dubbed "Rocket Pro TPO vs. UWM," according to a cease-and-desist notice it sent in mid-December.
In the notice addressed to Ramon Walker, owner of a brokerage firm Client Direct Mortgage and creator of the group, the wholesale giant accuses its former broker partner of illegally using UWM's logo in the Facebook group's banner. (The group removed it as of Jan. 5.)
UWM asked Walker to cease all improper use of UWM's intellectual property and delete any false and defamatory content in the Facebook group.
The group's 2,000 users discuss broker-related topics including loan products offered by Rocket or UWM, the
"UWM also is providing notice that it is monitoring the situation closely and will take legal action against you for any false or defamatory statements you make regarding UWM and for any conduct that would tortiously interfere with the relationship between UWM and its brokers," the wholesale lender warned.
The creation of the group, which came to fruition in November, is "improp[er]" and "threatens to interfere with the relationship between UWM and its brokers, which is impermissible," the company's notice read.
A spokeswoman for UWM declined to comment.
Walker, the owner of Client Direct Mortgage, said he created the group to give brokers a channel for open, unfiltered dialogue.
"I think it's worth having a discussion around who's better, especially with the ultimatum in place," said Walker. "The group is causing people to have open discussions and it's actually aggregating people that have been silenced."
"The notice says that I'm defaming them and having a negative impact on the relationship between them and the broker community– which I don't think is viable, though the one argument they may have is about their logo, so that's fine," he added.
Client Direct Mortgage did business with UWM between 2015 and December 2023, Walker said.
In addition to the cease-and-desist for the Facebook group, the broker received a notice from UWM demanding over $100,000 in early payoffs, something the wholesaler typically waived until Walker stopped doing business with the company.
"It shows a really good example to all the other brokerages right now, those who may owe millions in EPO, of what can happen [if they walk away]," he said.
Another broker recently targeted by UWM is District Lending. The wholesaler accused the company of
District Lending allegedly sent 84 loans to Rocket Mortgage or Fairway Independent Mortgage Corporation since pledging in March 2021 to abide by UWM's
The wholesale giant claims District Lending's flouting of their agreement resulted in damages of at least $420,000, which UWM would like to recoup, per its suit filed in a federal court in Michigan.
