The News Radar

Timely links to external news and articles, usually valuation related, with occasional commentary.

Originally posted Tuesday, 1 November 2022
Mortgage Giant Rocket Plunges Back to Earth, Hit by Rising Rates

Getting potential customers to trade a 3% mortgage for a 6% one is like “pushing rocks up hills,” said Colin Wyzgoski, who quit a job as a banker in August after taking time off because of work stress.

“When the fish are jumping in the boat, the job is one thing,” Rocket Mortgage Chief Executive Bob Walters said. “When you’re competing with a lot of other people, it’s a different thing.”

I'm sure it's unfair and presented out of context, but that's still a hell of a quote from a chief executive.