UWM fights Mat Ishbia deposition in All-In lawsuit

United Wholesale Mortgage boss Mat Ishbia may soon testify in federal court for the first time about his company's All-In initiative. 

A Michigan court last week ordered the lender to make the UWM chairman, CEO and president available for a deposition within 30 days, in the company's All-In lawsuit against Atlantic Trust Mortgage. The case has been pending since 2024, when the wholesale giant accused the Florida shop of violating the All-In agreement by selling dozens of loans to wholesale rivals.

The brokerage wants to depose Ishbia because it believes he was personally involved in structuring All-In's liquidated damages provision, according to case filings. Attorneys for UWM last week asked the court to halt Ishbia's deposition, arguing other senior executives can provide more relevant information regarding All-In. 

In a statement Tuesday evening, a spokesperson for UWM emphasized there is no legitimate reason to depose Ishbia. NMN confirmed the company has filed a motion to that end.

"The request is unnecessary and just meant to harass and try to gain publicity," the statement read. "The sole remaining issue before the court is the amount of damages owed to UWM."

The spokesperson added that the straightforward contract dispute was already resolved by the Michigan court. Although the Atlantic Trust case remains pending, a judge dismissed the brokerage's counterclaims against UWM earlier this month. The same Michigan forum has also handed UWM victories in prior All-In cases. 

Attorneys for Atlantic Trust, who are also representing other brokerages fighting All-In claims, didn't return requests for comment. 

The Ishbia deposition

According to UWM, Atlantic Trust wants to ask Ishbia questions including UWM's purported decision to allow some brokers to continue to do business both with it and Rocket Pro. Ishbia announced the ultimatum five years ago, which barred UWM partners from sending loans to Rocket and Fairway Independent Mortgage because of alleged anti-competitive practices. 

Before the court's Ishbia decision, UWM suggested Atlantic Trust depose other executives who were at the same meeting to develop All-In. That includes Chief Marketing Officer Sarah DeCiantis, who already testified in a successful lawsuit against Kevron Investments. Atlantic Trust has already deposed the UWM account executive who worked with the brokerage.

After a conference last week, U.S. District Judge Terrence G. Berg issued a brief order allowing Ishbia to be deposed for four hours "on a very narrow scope", according to a UWM summary. The CEO is also proposed to testify in an All-In case against District Lending. 

Attorneys for UWM last week also argued they weren't given a fair opportunity to debate the merits of an Ishbia deposition, because of hasty legal proceedings. 

UWM's wins

Besides the Kevron judgment, UWM has secured favorable judgments in other litigation which accused brokerages America's Moneyline and Mid Valley Funding of violating All-In. While Mid Valley Funding reportedly agreed to a $40,000 settlement in 2023, the America's Moneyline case remains pending in federal court. 

The lender also survived an antitrust challenge from Florida-based The Okavage Group, which sued UWM shortly after the ultimatum rollout. After a district court dismissed Okavage Group's suit in 2024, a federal appellate court upheld that decision last May.