Sep. 14 at 12:26 PM
$LDI Non-bank mortgage lender. Offers digital lending tools meant to mimic
$RKT Rocket Mortgage. Has struggled to turn consistent profits, weighed down by regulatory & operational friction. Highly exposed to mortgage rate swings.
$UWMC Non-bank mortgage originator with a digital focus, overlapping
$RKT Rocket’s origination frontier. Profitability runs on cycles & rate swings. Less diversified, which sharpens the exposure.
$TREE Loan marketplace posing as fintech. Functions as an intermediary, not a full-stack originator or servicer. Lower margins, reliant on lead volume, with little control over the actual product →
$SPY