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Brokerage says UWM depositions poke holes in All-In's math
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A brokerage fighting United Wholesale Mortgage's All-In mandate is trying to poke holes in how the company calculated penalties for breaches of the policy based on testimony by UWM employees.
Neither UWM nor attorneys for District Lending responded to requests for comment.
Attorneys for District Lending specifically raised questions about the math behind All-In in DeCiantis' May deposition, which she provided in the Atlantic Trust case.
UWM has said brokers are liable for "liquidated damages" of $5,000 per loan closed with UWM or $50,000, whichever is greater.
The presiding U.S. District Judge Laurie Michelson has upheld UWM's All-In contract against two other brokerages who challenged the policy in similar cases in recent years.