Rocket Companies has cut hundreds of millions in expenses. Executives must achieve a tricky balance of cost-cutting while still investing in the business.
Southeast Michigan may still be the mortgage capital of the country, but their ranks have gotten much thinner.Securities filings this week by the two largest lenders in the country — Detroit-based Rocket Companies Inc., parent of Rocket Mortgage, and Pontiac-based United Wholesale Mortgage &…
Brokerages, tech companies and mortgage providers all saw massive losses as the market soured at the end of 2022. But some leaders did have a few tricks up their sleeves.
I am in Reno today, Spokane tomorrow, but I spent much of last week in Chicago which is very much a melting pot of languages. One can walk down the street and hear similar words for the same thing: Hypothèque (French), hipoteca (Spanish), hipotēka (Latvian), hypotheek (Dutch), and hypothek (German). You’ll have to figure out the word on your own. Renovation there is indicative of what is happening in many other cities: Developers and city agencies in Chicago are working together on the LaSalle Street initiative, which seeks to bring 1,000 homes (including 300 affordable ones) to a mostly shuttered stretch of the city’s financial district. With plenty of people still content to work from home, living in a converted empty office may be the answer to the housing crisis in many areas. (Today’s podcast can be found here and this week’s is sponsored by the STRATMOR Group, the data-driven mortgage advisory. At STRATMOR, insights and knowledge are app