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UWM replaces Flagstar; Amazon; Fight brews @ Fed 🤔

By June 4, 2021 June 7th, 2021 No Comments

United Wholesale replaces Flagstar as jersey sponsor for the Detroit Pistons

The Detroit Pistons announced Thursday that Pontiac-based United Wholesale Mortgage will be the team's new official jersey sponsor beginning next season, replacing Flagstar Bank.

“As the No. 2 overall mortgage lender in America we intend to leverage this partnership with the Pistons and NBA to catapult national awareness of not only UWM, but mortgage brokers across the country,” said UWM CEO Mat Ishbia.

Under the multiyear deal, the UWM logo will appear in the same place on players' jerseys — the left shoulder — as Flagstar's logo did until its

 partnership ended last month. Troy-based Flagstar was the team's first jersey sponsor beginning with the 2017-2018 season, the first year the NBA allowed such ads. 

Financial terms of the new deal weren't disclosed. The deal makes UWM the Pistons' “exclusive mortgage partner.”

“United Wholesale Mortgage is a premier Michigan-based company that shares our mission for providing unparalleled service to customers while making a difference in the community,” Detroit Pistons Vice Chairman Arn Tellem said in a statement.


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Amazon takes the lead in luring women back into the workforce

While there may be more real estate agents than there are homes for sale in the housing industry, the situation isn’t the same for the rest of the nation. Instead, there are currently more jobs in the United States than people looking for jobs.

Amazon is taking the lead to change that.

Nearly 2 million women have dropped out of the U.S. labor force since the pandemic began. 

Now the country’s second-largest company wants to hire up to 1,000 of them back.

Amazon announced a major expansion of its “returnship” program, which recruits and provides paid job training to candidates who have left the workforce for a year or more—usually meaning women who stopped working to take care of young children or other relatives. 

After a year in which the pandemic closed schools and day-care centers, and decimated industries that rely on majority-female workforces — Amazon is making what one expert calls the largest ever commitment to returnships by a single employer. 

The e-commerce giant will hire up to 1,000 people to go through its paid return-to-work training “in the next several years”—and its executives are calling on other Fortune 500 companies to follow suit.


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Fed Reserve presidents are fighting over mortgage bond purchases

Does your family game night often turn into a family feud?

If so, you need to stop playing Monopoly, Uno and/or Sorry!

Why? Because a new study finds those three games are often at the center of fights during the family game night — with Monopoly being the most divisive.

And can you guess what else is a common source of fights? That’s right: Mortgage bond purchases by the Federal Reserve.

Should they stop helping the economy by buying mortgage bonds, or is buying those bonds actually hurting the economy now, or try something in-between? The Federal Reserve presidents are publicly divided.

On one hand, earlier this week, Dallas Federal Reserve President Robert Kaplan cited potential excesses in the housing market as a reason for the central bank to start easing back on its monthly asset purchases.

Kaplan told CNBC the $120 billion a month in asset purchases may be having “unintended consequences.”

Whereas, New York Fed President John Williams said he does not think the central bank should start to slow down its asset purchases.

“We’re still quite a ways off from reaching the substantial progress that we’re really looking for in terms of adjustments to our purchases,” Williams said during an interview with Yahoo Finance, referring to the Fed’s monthly purchase of $120 billion in bonds. “I just don’t think the time is now to take any action.”

And somewhere in between the two is Federal Reserve Bank of Philadelphia leader Patrick Harker who said he is getting ready to think about paring central bank stimulus as the economy continues to recover from the effects of the coronavirus pandemic.

“We’re planning to keep the federal funds rate low for long, but it may be time to at least think about thinking about tapering our $120 billion in monthly Treasury bond and mortgage-backed securities purchases,” Mr. Harker said in a virtual appearance.

Saying that again, it may be time to think about thinking… our leaders at the Federal Reserve ladies and gentlemen. They may not be the leaders we need, but they’re probably the leaders we deserve. LOL.


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