Mortgage broker: Quicken Loans latest marketing ploy sidelines my business
“Rocket Professional is here!” reads the subject line of the December 15 email from Quicken’s partner development manager. The message in the body then proceeds to ask: “What is Rocket Professional?”
According to one broker, who reached out to Rise&Shred, Rocket Professional is an attempt to cut him out of the 
loop altogether.
A copy of the Quicken Loans email was sent to
Rise&Shred and appears accurate.
In a nutshell, Quicken is contacting Realtors with a proposition to become “advisory members” on a mortgage, according to the broker, whose identity we will protect.
“While the guise is they can see everything happening on the loan, the kicker is they offer 0.50 BPS bonus,” the broker said in an email, whereby Quicken used an example of $200,000 loan earning the Real Estate Agent a $1,000 bonus.
The broker said he called Quicken to express his concerns and that they, “did not quite understand that if the Realtor decided to do this program, for the MONEY, they would not need me and I would not need her,” the broker wrote. “We lose and the Corporation wins, either way.”
To answer the email from Quicken: “What is Rocket Professional?”
Rocket Professional first began to prominently appear in SEC filings from the company in August, and here is what Jay Farner said about Rocket Professional at the bottom of page 212.
[NOTE: Read Rocket Professional in his words (right below) and judge for yourself. Also shoot me an email (our address is all the way at the bottom of this email) if you have extra thoughts and please share this newsletter.]“Recognizing a new opportunity in the market, we have recently placed emphasis on expanding our partner network which has enabled us to rapidly build market share,” Farner writes. “By offering the benefits of our industry leading platform to our external partners, we have formed long-term relationships with influencers and marketing partners that have supported our growth and created additional scale.”
“To date, our partners have provided $189 billion in cumulative originations as of March 31, 2020. We offer our partner network an elevated experience consisting of powerful products, resources and technology,” he added. “We ensure our partners have access to our advanced Rocket Professional technology. Our strong product lineup and competitive pricing enhances our partners' value proposition by delivering speed and certainty to close to their clients.”
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Citi plans major mortgage push in 2021
2021 is the year Citi embarks on a multi-year mortgage growth strategy, according to a managing director we spoke to. After digging, we found some more details on Citi’s LinkedIn page.
“Citi Mortgage is currently hiring experienced retail and correspondent mortgage underwriters for our exceptional 
work from home team!” the post states.
“Our underwriters enjoy long term careers with a world class brand. We at Citi pride ourselves on our inclusive, employee focused culture, and want to tell you more about all we have to offer,” Citi writes. “These full time remote underwriter positions are available nationwide.”
While we are sure Citi is fully aware that underwriters are in high demand right now, here is the page of all of their available careers for the go-getter out there!
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The richest families and the most expensive homes
Ah the 1%, the pandemic sure has been good to them.
This metered paywall article from Forbes list the richest families in America. At the top is the Walton family of Walmart, worth $247 billion. That’s much higher that the Koch family in second place with a comparatively lower $100 billion.
By way of further comparison, the wealth of Amazon titan Jess Bezos is $185 billion. Most of these industries the 
families work in have seen the demand for their products rise during the pandemic thus given timely credence to the old tried and true adage: “the rich get richer.”
So where do these people live. Hint: It’s not in our neighborhood.
Bloomberg has some ideas where they can easily afford to buy with their 10 most expensive homes in the US. The Warner Estate in California tops the list and was reportedly purchased by Bezos from music producer David Geffen. That 9.4-acre estate dates to the 1930s and set a new record for L.A.-area real estate at $165 million, which is what Bezos probably carries on him, like all the time.
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