Wholesale lenders

But UWM says the provision is designed to protect against a broker double-locking the loan and is used by other lenders.

The acquired platform, while remaining stand-alone, will have integrations with Black Knight's Empower loan origination system for mortgage lenders.

United Wholesale Mortgage's new rule, which forbids brokers from doing deals with two competitors, has brought extra attention to its smaller rival.

The company posted an $88 million loss for 2020 after shutting down for nearly the entire second quarter.

Mortgage brokers are telling the company that they "are looking for another large source," according to President and CEO Willie Newman.

Finance of America Reverse's product combines features of a forward mortgage, like 10 years of payments, with parts of a non-recourse reverse loan.

Rocket Pro TPO EVP Austin Niemiec calls this the start of the slippery slope, but UWM's Mat Ishbia responds he isn't being aggressive

And there are some brawls on the field affecting the direction of business for the rest of this year.

But the move could have legal repercussions from a competitive standpoint.

The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.