"The amended complaint also alleges that both DeCiantis and UWM CEO Mat Ishbia began pressuring Sweeney and [Marc] Summers via text messages, phone calls, and emails to behave in ways that directly benefited UWM, essentially seeking for AIME to operate as an extension of UWM and prohibiting the promotion of competing wholesale lenders. Sweeney also alleged that she, with the help of AIME's senior vice president of development and an outside auditor, uncovered financial misconduct at AIME."
"In July 2023, the auditor notified the SVP of definitive embezzlement by an employee who had used AIME funds to pay her mortgage [to UWM] for over twelve months, including a payment that had been made in 2023. That same employee was alleged to have abused a company credit card by making personal purchases for months. When Sweeney notified Summers, she said that he was aware of the misconduct and had asked the employee to stop the conduct."
"When Sweeney directed him to fire the employee, she said Summers delayed the termination and committed to putting the employee on a repayment plan, of which AIME and Summers never enforced or collected. Sweeney then notified DeCiantis of Summers' actions and was told that Summers would not now, nor ever, be removed from AIME. Sweeney also claims that she pushed for governance reforms, which UWM opposed."
Sweeney served as AIME CEO from 2021 to 2023 and says she helped grow the organization financially while UWM executives pressured her to operate AIME for UWM’s benefit. AIME described her as a board chair, but a January 2021 press release named her CEO. DeCiantis and UWM CEO Mat Ishbia allegedly pressured Sweeney and Marc Summers by texts, calls and emails to make AIME an extension of UWM and to bar promotion of competing wholesale lenders. Sweeney, the SVP of development and an outside auditor uncovered embezzlement and credit‑card abuse by an employee who used AIME funds to pay a mortgage to UWM. Summers allegedly delayed firing the employee and pursued an unenforced repayment plan; DeCiantis reportedly refused to remove Summers. Sweeney pushed for governance reforms that UWM opposed.
Read at www.housingwire.com
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