Rocket Companies Inc (RKT): The mortgage industry has turned into a...

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Nivea67515

Re: eastunder post# 1370

Tuesday, 11/08/2022 4:48:02 AM

Tuesday, November 08, 2022 4:48:02 AM

The mortgage industry has turned into a complete joke over the years. People don’t even need a college degree to get hired as a loan officer from Woke recruiters/ Woke management which is why most lenders over hired & now they got a bunch charlatans sitting around twiddling their thumbs. Just like how Twitter & Meta had/have too many workers on board- the same issue applies to the United States mortgage industry.

Most mortgage Loan officers can literally make more money for their families by working at their local McDonald’s.

These insider buys by Farner who is grossly overpaid won’t make a difference/ hasn’t made a difference as the selling pressure continues & most RKT investors can kiss their money goodbye. The stock will never see IPO $18 ever again.

“Our estimate suggests industry volume per loan officer at less than 1 loan per month”

https://www.freep.com/story/money/business/2022/11/03/rocket-companies-third-quarter/69613229007/