Anthony Casa, founder of the Association of Independent Mortgage Experts, apologized in an online video on Sunday for making “inappropriate” remarks about the wife of a Quicken Loans executive.
Casa said the executive sent him a video text message saying the couple were celebrating record mortgage production levels at the business. The founder of AIME alleged that the two “were also making comments that tried to motivate me.”
“Unfortunately, I let the emotions of the situation get the better of me, and I responded with a video message, and said some really inappropriate and obscene comments about this person’s wife, things that I should never have said, things that I don’t ‘I don’t believe in,’ he said in a video posted to LinkedIn.
“I will work things out with everyone involved. I will do better to move forward. I will communicate with integrity in every communication, private or public,” Casa said.
Casa said a civil complaint had been filed regarding the incident, but NMN could not independently confirm the lawsuit. Quicken declined to comment.
Casa, which was criticism of lenders who create competition for mortgage brokers by offering several loan channels, maintains a long-standing professional rivalry with Quicken, which he acknowledges having been “combative” on his part. The CEO of one of Quicken’s rivals, United Wholesale Mortgage, has defended on behalf of AIME in the past.
The market share of mortgage brokers has been relatively small since the Great Recession, but it has increased in recent years. It was around 7% in 2011, but by 2019 it had risen to 16%, according to CoreLogic.
Competition between Quicken and United Wholesale has recently intensified due to Quicken’s plan to launch an initial public offering and analysts have speculated that United Wholesale may also launch an IPO.
“UWM is aware of and has considered Mr. Casa’s disturbing comments and does not condone this type of behavior,” the company said in a statement.
Casa did not respond to a request for further comment.