KYLECODY
Senior Member
- Joined
- Apr 26, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Arizona
They came on like gangbusters and tried their hardest to compete with Rocket and all the other big names. Their stock went public mid 2020 and quickly made it to $12 a share, now its down to $4. The 2 COVID years I had order after order from them at crazy fees (crazy good for me, they had so much volume they wouldn't say no to basically asking for double fee every time plus more if it was done within a week), then when the market shifted, they switched platforms, started offering at meh fees and it has been crickets all year...Was thinking they should go under soon because what mortgage company could withstand this interest rate environment for the next couple years?
Then today its announced their president/founder Matt Ishbia is buying the NBA team Phoenix Suns and its WNBA counterpart the Mercury for a cool 4 Billion, with a B...Guess they made so much money the current environment and next few years can't put a dent in their economics. If I ever feel bad for a mortgage company when business stalls or rates increase, Ill remember this one. They literally must be raking it in in typical times.
Then today its announced their president/founder Matt Ishbia is buying the NBA team Phoenix Suns and its WNBA counterpart the Mercury for a cool 4 Billion, with a B...Guess they made so much money the current environment and next few years can't put a dent in their economics. If I ever feel bad for a mortgage company when business stalls or rates increase, Ill remember this one. They literally must be raking it in in typical times.
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