mooseman

December 20th, 2022 at 4:45 PM ^

Michigan State basketball is required by statute to have 2-3 white guys with minimal minutes on the bench from places like Grand Ledge or Okemos or Eaton Rapids. Ishbia was one of those guys. Like Steve Izzo only Ishbia didn't have to stand on his tip toes to pee at the kid's urinal.

ypsituckyboy

December 20th, 2022 at 3:57 PM ^

Ace, is that you? Would love to hear your thoughts on whether landlords should be able to charge rent.

Snark aside, people have been able to borrow money at <4% for the past decade plus. That's a great deal. "Amortized interest payments" are robbery doesn't really make sense. Yeah, maybe at 20% but def not at 3.5%.

 

El Jeffe

December 20th, 2022 at 1:58 PM ^

In researching how Ishbia made his money (United Wholesale Mortgage), I saw this on Wikipedia: 

United Wholesale Mortgage announced that they would no longer work with any broker or bank that also worked with United Wholesale Mortgage’s leading competitors Rocket Mortgage and Fairway Independent Mortgage Group.

Does this mean that the Michigan State University Spartans Presented by Rocket Mortgage find themselves in a Jekyll/Hyde battle for their own soul-type situation???

Seth

December 20th, 2022 at 2:37 PM ^

Man, let me show you something. This was his house. It's one of the nicer ones in the neighborhood, and in Birmingham Schools so now I bet it Zillows for over $1 million, but in the '80s this was upper middle class.

He got a good head start, but compared to most billionaires this is like 10th percentile. His dad's mortgage company was just a medium sized firm. Mat took over one piece of it and built that wing into UWM. His dad...I shouldn't say all I think about him but the idea that Jeff Ishbia is responsible for his son's fortune is patently ridiculous. If he had an insurance agency instead of a mortgage company, Mat would have the biggest insurance company in Michigan.

Mat's main thing is he's insanely energetic, insanely driven, and just...insane. When we picked teams on the playground he was always captain of his team and the next two best athletes in the class were the captains of the other team, and then Mat's team usually won. Mat picked the game. He once got a bunch of kids bowing down to him and kissing his feet to be picked on his team. A friend once joked that they bet his body naturally produces cocaine. I've never encountered anyone else like him.

I think his dad has a lot to do with who Mat became, but not in a "here's lots of money son" way but in ways that made it impossible for Mat to ever relax a muscle in his body.