CASE Launches "Save Broker Choice," A New Project to Support Consumers and Protect Competition in the Mortgage Industry - PRNewswire

WASHINGTON, March 15, 2021 /PRNewswire/ -- Consumer Action for a Strong Economy (CASE) today launched Save Broker Choice, a new project to support consumers and protect competition in the mortgage industry. Mortgage brokers help homebuyers and those looking to refinance their homes navigate what can be stressful and nuanced process, identifying the best rates and financing options available. But United Wholesale Mortgage, the largest wholesale lender in the country, is trying to limit competition and consumer choice by banning brokers from working with two other top lenders in the industry, Rocket Pro TPO and Fairway Independent.

"Like all consumers, American homebuyers and homeowners looking to refinance deserve access to diverse and affordable options to identify the financing program that best fits their needs," said Matthew Kandrach, President of CASE. "Competition in the marketplace is the best way to ensure the best options for consumers but UWM's ultimatum will only limit resources for brokers and ultimately force consumers to pay the price."   

Mortgage brokers are able to best serve homebuyers and those looking to refinance only when they have access to the full scope of lenders across the industry. UWM's new anti-competitive policy undermines brokers' ability to effectively serve their clients. American homeowners and prospective homebuyers – like all consumers – deserve to have a competitive marketplace. They deserve choice.

"Competition is a cornerstone of the free market economy, driving American ingenuity and keeping costs affordable for consumers," Kandrach said. "The mortgage sector is certainly no exception, and more options for brokers means more, and likely better, options for consumers."

Visit SaveBrokerChoice.com to learn more and join the fight to protect American consumers and competition in the mortgage industry.

As an aggressive and vocal advocate for less government interference with American enterprise and industry, CASE seeks to serve the interests of U.S. consumers through common-sense policies that allow our economy to innovate and expand, giving consumers more freedom, greater choice, more purchasing options, at less cost. CASE is committed to serving as the voice of American consumers and wage-earners by advocating strongly for free-markets, fiscal responsibility and reasonable consumer protections.

MEDIA CONTACT: [email protected]

SOURCE Consumer Action for a Strong Economy (CASE)

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