Two billionaire mortgage giants have brought their beef to the NBA
Two billionaire mortgage giants have brought their beef to the NBA
Apr 02, 2024 by ESPN
Key Facts
- It wasn't an especially large partnership in terms of dollar value, the source said, adding that it wasn't in the top 10 for the team that season and was set to expire in a matter of months.
- Starting in 1985, when he was 22 and, thanks to $5,000 he saved delivering pizzas in college, Gilbert founded a brick-and-mortar Michigan mortgage company that would eventually become a pioneer of online lending and one of the largest independent mortgage banks in the country.
- The next goal was to become the top overall mortgage company in America -- and that meant taking on Rocket.
- It surpassed Wells Fargo and JPMorgan Chase to become the No. 2 overall mortgage lender, just behind Rocket, which closed $145 billion in mortgage volume that year behind a team of roughly 20,000 employees.
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