I won’t say too much here because I don’t know enough about the world of real estate and mortgages to clarify what I’ve seen/heard from other sources. (I also haven’t seen this covered here as yet.) But as I listened to one of my sports podcasts at the office today, they took a deep dive on a sports adjacent story. Matt Ishbia, owner of the Phoenix Suns and United Wholesale Mortgage, has been exposed as a predatory lender — using “independent” mortgage brokers to steer 99% of their home buyers to his company, regardless of the best deal available. Lots more sordid details — including NBA Hall of Famer being named as the “independent” Board Member at UWM, charged with being a guardrail for shareholders — even though he is clearly a close friend of Ishbia and Thomas’ son (a former DJ with no applicable experience) was installed into the Suns front office. The podcast I listened to was “Pablo Torre Finds Out.” But I will provide a link here to the Reuters story I found as well. This should be a huge story, and Ishbia SHOULD be appearing before a congressional committee soon, but I guess we’ll have to wait and see wtf happens.
www.reuters.com/...