"Judge Laurie J. Michelson of the U.S. District Court for the Eastern District of Michigan said the award includes liquidated damages, attorney's fees, costs and expenses. In a court filing on Tuesday, Michelson added that both parties have mutually agreed to waive any right of appeal regarding the decision or any related orders. The consent judgment and the Court's prior ruling say it all: the truth and facts prevailed, a UWM spokesperson told HousingWire in a statement."
"From day one, we've been crystal clear about the facts of this case, and Kevron's willingness to stipulate to this judgment in light of the Court's recent decision confirms exactly what we said all along. We're pleased but not surprised by this outcome. The evidence was on our side, and the Court saw it the same way. Kevron representatives did not immediately respond to a request for comment."
"UWM's All In initiative, launched in March 2021, requires brokers to choose between doing business with UWM or with Rocket and Fairway. Violations could result in fines of at least $5,000 per loan or $50,000, whichever is greater. According to the lawsuit, Kevron which began originating loans with UWM in 2019 submitted at least 22 loans to Rocket and Fairway after the policy took effect."
Judge Laurie J. Michelson awarded liquidated damages, attorney's fees, costs and expenses and noted both parties waived any right of appeal. A consent judgment and a prior court ruling confirmed the outcome. UWM stated that evidence supported the judgment and that Kevron stipulated to the judgment following the Court's decision. UWM's All In initiative, launched in March 2021, requires brokers to choose between doing business with UWM or with Rocket and Fairway and imposes fines for violations. The lawsuit alleges Kevron submitted at least 22 loans to Rocket and Fairway after the policy took effect. UWM initially sought $110,000 in damages, fees and costs.
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