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UWM Holdings moves to dismiss mortgage lending antitrust case

( June 18, 2021, 21:09 GMT | Official Statement) -- MLex Summary: UWM Holdings has filed a motion to dismiss The Okavage Group’s antitrust case against it, saying it is more publicity stunt than plausible claim. UWM is seeking to dismiss claims that it engaged in an illegal group boycott against rivals. “Contrary to the propaganda campaign being waged by opponents of the All-In Initiative in the media and industry publications—and this complaint is very much a part of that campaign—UWM is not a utility, a government entity, or a monopolist. UWM’s decision to work with some mortgage brokers and not others is no more ‘anticompetitive’ or a ‘restraint of trade’ than the decision of some retail lenders (e.g., major retail banks) to offer loans to consumers only through captive loan officers, and not to do business with independent mortgage brokers at all,” it argued.See document below. ...

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