Two highly competitive Michigan titans of mortgage banking who also happen to own rival professional basketball teams have zero fondness for each other – and one of the duo just took a smack at the other today in a sports podcast.
Mat Ishbia does double duty is chairman and CEO of United Wholesale Mortgage (NYSE:UWMC) in Pontiac and Dan Gilbert is co-founder and chairman of Detroit-based Rocket Mortgage (NYSE:RKT). Gilbert is also the owner of the Cleveland Cavaliers, and he conspicuously was the sole abstention earlier this year when the NBA voted to confirm Ishbia as the owner of the Phoenix Suns.
Ishbia spoke frankly about the animosity between him and Gilbert in an interview on “The Bill Simmons Podcast,” noting their lack of comradeship is so deep that they never shook hands when meeting each other.
Ishbia said. “He doesn’t like me and I don’t like him, that’s how it is,” Ishbia said, adding Gilbert is angry because “his company used to be number one in mortgage. UWM, my business, is number one in mortgage. I don’t like the way they do business in a lot of things, he probably doesn’t like the way we do things. We’re in the same town, we compete, we’re winning. That’s what it is right now.”
Still, Ishbia insisted he had no harsh sentiments for his rival.
“I wish him nothing but the best,” he said. “I have no animosity, but the reality is, don’t think we’re not competing. Health-wise, I wish him nothing but the best. The reality is, in the mortgage business and now on the basketball floor, whatever it is, I’m trying to win at anything I do. If someone does things the wrong way, which he’s done, I’m going to call them out on it. That’s what I’ve done”