( April 23, 2021, 19:16 GMT | Official Statement) -- MLex Summary: Mortgage lender UWM Holdings has been accused of engaging in an illegal group boycott of rivals Fairway Mortgage and Rocket Mortgage to maintain its monopoly over the wholesale mortgage lending market. The complaint claims that UWM issued an ultimatum coercing its broker clients to agree not to do business with either company. “Defendants’ illegal scheme is pernicious, or manifestly anticompetitive, because, regardless of whether any broker agreed to the Ultimatum, it limits the choice of lending options available to brokers, and ultimately the loan options available to consumers, in the relevant market,” said the complaint.See document below. ...
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.