by
Mat Ishbia
Detroit U.S. District Judge Terrence Berg has slammed Pontiac-based United Wholesale Mortgage for failing to make its CEO and Chairman Mat Ishbia sit for a sworn deposition in a lawsuit, Crain's Detroit Business reports. The judge had twice ordered Ishbia to do so.
In a filing Thursday, Judge Berg accused the company of making “a mockery” of federal court rules, Crain's reports. Ishbia is also a majority owner of the NBA team, the Phoenix Suns.
Berg also gave attorneys for Florida-based mortgage broker Atlantic Trust, the company the mortgage giant is suing, the opportunity to argue why he should hold UWM in contempt, which could include financial penalties, Crain's reports.
UWM is suing the Florida company, alleging that it violated an agreement not to do business with competitor, Dan Gilbert's Rocket Mortgage. The suit alleges the Florida company sent loans to Rocket and another forbidden lender.
UWM, in a written statement to Crain's, said that it had made its senior leaders available for testimony and there was no need to have Ishbia testify. The company said the request for Ishbia amounted to harassment and a stunt to get publicity.
