Cohousing-L Mailing List: Re: Quicken Cohousing story

[Sharon Villines (sharon]

I agree with Alan. And I think this is an amazing stepping stone in the 
development of cohousing. Rocket Mortgage is the largest mortgage company in 
the country. 

Remember when the biggest event in the 1990s was when a woman (Do you remember 
her name) compiled a nationwide list of lenders who had granted construction 
loans and mortgages? The strategy was to use the information to convince other 
bankers that cohousing was viable. Particularly to convince a bank like Wells 
Fargo that had already financed cohousing in other states. I remember that the 
spreadsheet had about 12 entries.

No article is 100% correct and Quicken can’t sound like they are endorsing 
cohousing. If the author had written a squeaky-clean review, the editor would 
have added some negativity so it would appear to be more balanced.

The reality of introverts in cohousing is counter-intuitive; introverts love 
it. So it is easy to get that wrong. But I must say that the majority of 
friends that I encourage to live in cohousing respond that no one tells them 
how to live their lives. Not a chance.

The largest mortgage company in the United States is writing in support of 
cohousing. Think about that for a minute.

Quicken has been Rocket Mortgage since 2021 so I don’t know why they are still 
using “Quicken Loans” but here is Nerd Wallet’s review of the company:

https://www.nerdwallet.com/reviews/mortgages/rocket-mortgage

And the WSJ: 

> The Detroit-based lender has barreled through the pandemic. It doubled its 
> mortgage originations in 2020 and grew them by another third through last 
> fall. It is now the biggest mortgage lender in the country, making nearly as 
> many home loans as Wells Fargo & Co. and JPMorgan Chase & Co. combined. 
> Through much of 2021, roughly one out of every 14 mortgages in the U.S. went 
> through Rocket.


https://www.wsj.com/articles/rocket-feasted-on-low-interest-rates-to-become-mortgage-king-but-now-comes-the-hard-part-11641637805

If you ever plan to get financing, clip this and start a portfolio.

Thanks, Ann,
Sharon

> On Apr 28, 2023, at 7:38 AM, Alan O'Hashi via Cohousing-L <cohousing-l [at] 
> cohousing.org> wrote:
> 
> Ann and Raines, I think the story was a good high-level summary and has 
> attained its objective to generate discussion, SEO, and responses from gurus 
> such as yourselves.
> 
> If Quicken is making loans to cohousing developers, maybe this is a 
> relationship that should be pursued with CohoUSA. Banks are typically named 
> as a development stumbling block.
> 
> Thx
> Alan O.
> 
> Alan O'Hashi 
> Preorder and get 15% off"Views from Beyond My Bedpan"Living seven decades 
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