According to a Bloomberg report released on Wednesday, around 25 present and past workers of United Wholesale Mortgage (UWM) have claimed that the wholesale lending company has created a harmful workplace atmosphere, where managers have been accused of exhibiting discriminatory behavior based on race, sexual harassment, drug abuse, and bullying.
Although none of the employees interviewed reported any incidents of the CEO Mat Ishbia using racial slurs or engaging in sexual harassment, some former workers disclosed to the publication that UWM managers frequently humiliated and made suggestive comments to their subordinates. Several other workers also mentioned that the sales personnel, managers, and executives had a history of drug abuse, and the company enforced a stressful work environment, which appeared to be intended to force employees out.
According to Sarah DeCiantis, the Chief Marketing Officer of UWM, the depiction of the company’s work environment as hostile by Bloomberg is “inaccurate and deceptive.” UWM reportedly provided Bloomberg with numerous on-the-record interviews with team members and executives, exhaustive responses to several queries, and even allowed them to tour their expansive 1 million-square-foot campus, insisting that they have been fully candid with Bloomberg.
DeCiantis stated that UWM has been in business for almost four decades and has hired almost 20,000 team members during that time. She added that there has been no indication of any such issue as depicted in the Bloomberg article throughout the company’s history, and that the story might be a result of either a few dissatisfied individuals or a rival firm attempting to promote an untrue narrative to the media.
The publication of this report follows Mat Ishbia’s acquisition of a controlling stake in the Phoenix Suns from Robert Sarver, who was compelled to sell the team after the National Basketball Association uncovered evidence of his involvement in discriminatory and sexist conduct. The transaction, which took place in February, assessed the franchise at $4 billion.
Although UWM has refuted the claim made by over seven sales staff that they have witnessed drugs on campus, the obtained police records demonstrate that UWM security reported twice to the local police regarding cocaine found at the workplace within a five-week timeframe in autumn 2021.
UWM attorneys stated to Bloomberg that they have not discovered any evidence of drug use complaints and emphasized that UWM does not condone the use of cocaine or any other illicit drug. The attorneys further mentioned that the firm has zero tolerance policies concerning sexual harassment and discrimination based on race.