As UWM and Rocket’s mortgage chiefs spar in the media, agents and consumers alike seem to be wondering how they’re going to pay their bills.
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Each week on Download, Inman’s Christy Murdoch dives into the week’s hottest stories to give you the information you need to face Monday. This week: As UWM and Rocket’s mortgage chiefs spar in the media, agents and consumers alike seem to be wondering how they’re going to pay their bills.
According to a new report from Redfin, 38% of renters think they will never own their home. The combination of high interest rates, high home prices and low inventory has led to an 11 percentage point increase in consumer pessimism in less than a year.
READ: More renters believe they will never own their own home
While locals struggle to make ends meet and try to find a way to come up with a down payment, the big fish at the top of the financial food chain are fighting in their luxury boxes, hurling accusations of corruption and fraud. and the pay-to-play scandal.
After shocking allegations about United Wholesale Mortgage’s (UWM) business practices were revealed, CEO Mat Ishbia briefly explained how his company “corrupted” mortgage brokers to defraud them “Hundreds of thousands of borrowers billions of dollars” argument. “In terms of fees and costs.
“This is Rocket Mortgage and Dan Gilbert doing Rocket Mortgage and Dan Gilbert,” Ishbia told reporters. “That’s exactly how it’s funded.”
Ishbia claims the charges were made by a firm affiliated with a hedge fund that was shorting UWM and were concocted by UWM’s fiercest competitor Rocket Mortgage and its founder Dan Gilbert.
Ishbia’s claim that the Rockets and Gilbert are behind the accusations against UWM was posted on social media by reporter Duane Rankin, who covers the Phoenix Suns, the team that Shibia and his family purchased the NBA team last year.
Gilbert is co-founder and chairman of Rockets Mortgage parent company Rocket Corp. and owner of the Cleveland Cavaliers.
As the mortgage giants squabble on the scene, people are worried first about occupancy, and agents worry about how they will earn commissions as they undergo an unprecedented paradigm shift based on compensation.
Our expert Inman contributors offer tons of ideas to help you grow your business and get paid, while also keeping an eye on your customers. From leveraging their existing equity to connecting with new home builders and advocating for fair housing, you’ll take care of buyers, sellers, and yourself.
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broker Julie Busby Share tips on making HELOC and real estate investing news the centerpiece of your spring content marketing efforts.
Extra: Forget the NAR settlement.New development deals still open
Say goodbye to “forever”
You need to earn $100,000 to afford a starter home. Rachel Hayter writes, Like finding a dodo, finding your forever home may be a thing of the past in today’s market.
Bonus: You can make lemonade out of sour nar settlements
How NAR’s settlement threatens Black real estate agents and
This is a historic moment when NAREB and our leaders must stand up for justice and equality, writes Dr. Courtney Johnson-RossPresident, National Association of Realtors.
Watch: How Post-Litigation Agency Compensation Works
Christy Murdock is a freelance writer, coach, and consultant, and write about real estate.Contact Writing Real Estate Instagram and subscribe to the weekly roundup, ketchup.
