I'm curious as to how they might balance rapid innovation and keeping track of everything as not everyone can know everything. If for example a worker/engineer comes up with an idea that could make xyz little part of the rocket a bit better, how do they make sure that knowledge is open to everyone and not lost along the way?
I haven't personally worked in a large company (student), so this question might sound naive.
After 5 years of searching, going through several lenders as we kept getting priced out. We finally got our income up enough to be able to afford a house in our state while using Rocket Mortgage. Rocket offered us a great locked in rate, down payment we could afford easily, and everything else. For us, it seemed like a great option. (I've posted a few issues through out the last few weeks.)
According to my Agent, "If you (me) had not been involve as much as you were, this would have never seen the light of day." She said she will never accept a client using Rocket Mortgage ever again. Lots of the problems I blamed HER for, which ended up being Rocket Mortgage.
- Rocket refused to contact my agent. I would have to forward everything to her. Even emails my agent sent TO Rocket, went on deaf ears. I didn't know the extent of this but apparently she has never received anything directly from them.
- They refused to update paperwork making my agent do it. They wouldn't send Docusign documents. Being a "national lender" you would think that they would be proficient in creating docusign documents. My agent had to make all of them so we could even sign them.
- Tons of miscommunication between different specialists within the company. This caused so many issues within our loan in the beginning. The right hand wasn't talking to the left hand. We asked our "specialist" to wait on demanding we remove the escrow money because we were in the middle of fixing it. It was a gift that wasn't properly sourced. We had to get additional paperwork which took us some time. Within MINUTES of talking with my husband about what we were doing, she posted in our To-Do list that it had to be removed. The underwriters were working with us and knew what was going on. Our specialist had no idea.
- Rocket broke several state laws. They had us sign a 3-day appraisal waiver. Against the law here. They hid when they got the appraisal back. We got it back a couple of days before our closing date. Leaving us no time to get work done with out changing our closing date. Had laws been followed, this wouldn't have happened. The issues would have been fixed way earlier. (We didn't know this when we signed it. Our agent told us it was against the law here.)
- Appraisal came back with one issue, Water heater safety straps had to be installed. The appraiser marked "insured with escrow repair" Rocket calls this a "escrow hold back" which they offer. According to HUD's government website, this would al
Rocket Companies, Inc. Detroit-based holding company consisting of tech-driven real estate, mortgage and financial services businesses, including Rocket Mortgage
https://focusinvesting.biz/rocket-companies-revenue-up-163-ceo-tech-investments-drove-record-loan-volume-in-q3/
The 1980-81 Houston Rockets were a very middle of the road team, finishing with a 40-42 record on the year. Even with a prime Moses Malone on the squad (he actually won league MVP this year), no way they were perceived as a credible threat in the Western Conference, being the last team in the league to qualify for the playoffs. These players were Houston’s largest contributors during the regular season.
Moses Malone: 27.8 / 14.8 / 1.8 / 1.9 on +5.1 rTS
Robert Reid: 15.9 / 7.1 / 4.2 / 2.0 on -1.2 rTS
Calvin Murphy: 16.7 / 1.1 / 2.9 / 1.5 on +0.8 rTS
Rudy Tomjanovich: 11.6 / 4.0 / 1.6 on -3.1 rTS
Mike Dunleavy: 10.5 / 1.6 / 3.6 on +1.0 rTS
Now at first glance, you may just think “ok, it’s not the best roster but there’s 3 Hall of Famers there, surely they would do better than below .500” but consider this: Tomjanovich was in the last season of his career (Rudy missed 30 games this season due to injury) and Murphy at 32 years old was on the decline as well. Moses and Robert Reid were the only 2 players on the roster who played at least 30 minutes per game for the season. Houston’s greatest strength, however, was that they were a legitimate 10 deep roster (10 players averaged 20+ minutes per game during the regular season) which would definitely help them come playoff time.
SIKE! The injury bug struck again for Rudy, who played just 31 total minutes of playoff basketball. Houston’s deep 10 man rotation was cut down to just 7, and they were down a Hall of Famer for the playoffs (albeit an old one). And their consolation prize for being the last team to qualify for the playoffs? They get to play the defending champion Los Angeles Lakers with Magic, Kareem, Jamaal Wilkes, Cooper, Norm Nixon, the whole squad. Now, back in those days, first round series’ were a best of 3, and the rest of the rounds were best of 7 so either team just had to win 2 games against the other to advance to the next round. Let’s see what happened…
Houston traveled to LA to play Game 1, and it was very clear that LA had absolutely zero answer for Moses, as he dropped 38 points and 23 boards to give the Rockets a very narrow 4 point win. The Lakers were slowly chipping away from a 10 point halftime deficit, but could never close the gap. Calvin Murphy contributed 19 points off the bench. The replacement for Rudy, Billy Paultz, actually had a solid playoff debut giving 15 points, 10 rebounds, 4 assists and 2 blocks on 7 for 13 shooting. Nobody on the Lakers really played bad but
... keep reading on reddit ➡Evening r/Superstonk, neighborhood Jellyfish here! Today, the Fed released its updated balance sheet for the week. (through June 16th)
https://www.federalreserve.gov/releases/h41/current/
Even as the Reverse Repo operations continue hoovering money OUT of the system at a record clip, the assets on the Fed’s balance sheet INCREASED by $112 Billion to—and stop me if you have been hearing this a lot around here about things—a new RECORD $8.064 trillion. Let’s write this one out: $8,064,000,000,000
Since the Covid-19 brrrrr started last March, the Fed has added $3.75 trillion to the balance sheet to get to $8.064 trillion, which is more than double what it had on the balance sheet since the Repo market crisis of September 2019.
So what caused the jump in the balance sheet?
The majority of the S112 billion increase was:
$24 billion increase in Treasury securities to $5.15 trillion and $84 billion increase in Mortgage-Backed Securities (MBS) to $2.33 trillion.
Another thing I find interesting is the Treasury General Account (TGA), which Yellen said in February she wanted to get to $500 billion by the end of June, actually increased by $92 Billion to $765 Billion.
I think it is safe to say Yellen is going to miss her end-of-the-month goal and the drawdown of the TGA will continue into the summer, BUT it is likely that $265 Billion is going right into the Reverse Repo market.
Funny how the drawdown coincides with the RRP blow-up....
OK Jellyfish, all of us find this Fed stuff fun (NOT), but why should I care and how can this tie to GME?!?!
I like being beaten over the head with Fed information, NOT!
Remember the other day when I posted that inflation is the lit match that is going to light the fuse to our rocket?
Well, JPow d
... keep reading on reddit ➡
