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UWM CEO Reheats Rocket Beef Over Voluntary Buyout Offers

Rocket Mortgage’s recent offer of voluntary buyouts to 8% of its workforce has prompted United Wholesale Mortgage Corp. CEO Mat Ishbia to revive the longstanding rivalry between the two Michigan-based mortgage giants. So reports The Detroit News.

UWM 200x186“These 2,000+ people will struggle to find new jobs, and I think it’s disgusting that they’re thinking short term and are solely focused on cutting a few million per month in costs.” Ishbia wrote in a LinkedIn post.

Rocket’s vice president of government affairs, Jared Fleisher, rebutted the criticism. “Rocket is responding to dramatically changed market conditions in the most thoughtful and caring way possible,” Fleisher wrote in a LinkedIn response. “The fact that you seek to exploit it for your own ends is evidence of nothing but the true depth of your cynicism, lack of caring and immorality.”

The two companies have often clashed, with Ishbia saying last year that mortgage brokers could work with UWM or Rocket, but not both.

Read the full article from The Detroit News.

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