Does UWM Have A Hostile Work Culture? Bloomberg Reports That It Does. However, UWM Disputes The Claims

Does UWM have a hostile work culture problem? A scathing story published Wednesday by Bloomberg claims it does. The story depicts United Wholesale Mortgage Holdings Corp.’s workplace culture as hostile. The report is ripe with allegations of sexual harassment, drug use and racial disparities.

Bloomberg says it interviewed more than two dozen people who worked at the mortgage giant. Most of the UWM workers requested anonymity.

The almost 2,500-word report doesn’t allege any malfeasant actions by CEO Mat Ishbia.

Former United Wholesale Mortgage employees said underwriting managers treated Black workers differently from White ones. In addition, former employees say that unwelcome sexual remarks were frequent among sales staff. They also state that other employees shared anecdotes of use of cocaine in the headquarters’ stairwells and bathrooms. 

The former employees also stated managers would do cocaine at client events and at parties around the Detroit area.

United Wholesale Mortgage called the portrayal of the culture at the lender “false and misleading.”

Chief Marketing Officer Sarah DeCiantis told the Detroit News:

UWM has been completely transparent with Bloomberg. We have given them hours of on-the-record interviews with UWM team members and executives (and) detailed answers to dozens of questions.

We are disappointed that, in the face of the overwhelming and detailed evidence of the real culture at UWM, Bloomberg chose to paint a sensationalized caricature of our company’s workplace environment. UWM has operated for almost 40 years and has employed close to 20,000 team members, and we are proud of our people, our accomplishments, and our culture. Our record speaks for itself.

Bloomberg also cited a complaint filed with the NLRB in 2021. The complaint stated UWM settled with back pay with two Black employees. The employees claimed they were threatened with termination after complaining about wages and hours. United Wholesale Mortgage told Bloomberg the firing was for poor performance and a “worsening negative attitude.”

As a result, the company settled to avoid the expense of litigation.

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