BC BREXIT
Saved by @ThomassRichards

Many bearish sentiments across the mortgage sector because they believe companies won't succeed as much when rate finally go back up (3 maybe 4 years from now). Which makes sense except for $GHIV and here's why. In 2016 Brexit came & rates went down which lead to huge success...

 in mortgages. Business was great for many companies but then in ‘17 and ‘18, rates went up. What happened you might ask? A lot of people got compressed, margins got compressed, rates went down, & people struggled in the mortgage market...
Well UWM ( $GHIV ) compound annual growth rate, from ‘16 to ’18, was 28%. Companies that focused on refi struggled, so obviously a very successful company like Rocket or Quicken, they went down 14% in compound annual growth rate in those years...
$GHIV actually grew, and so did their profits, so the opportunity to continue to grow in all cycles is a big differentiator for UWM, and the broker channel versus a lot of our competitors. When rates rise, it's actually even better for $GHIV (UWM)..
If rates stay low, great UWM will continue to crush but when the rates rise, they will continue to steal even more market share because of how they operate in the mortgage sector. People also talk about the speed in closing a loan & that other competitors are faster...
I hate to inform, but they're wrong. The average industry to get a loan closed from application to close is 47 days, at $GHIV (UWM) it's 17 days. MUCH FASTER. They also own 35% market share and project to have 40-45% within next couple years..
Many might wonder, what's a big difference in different with competitors like Rocket & Quick compared to $GHIV ? UWM is a much bigger purchase shop & very big in the purchase market where they can dominate the growth compared to refinance.
Another thing to consider is the amount of marketing that is yet to come for UWM and their overall marketing presence in the marketplace. You see Rocket everywhere, they know who Rocket is, well now you have the #1 wholesaler coming into play and the 2nd largest firm...
Tapping in to become more known aside from the substantial growth they've already. Not to mention, as we know, $GHIV (UWM) will be providing a annual dividend to their shareholders where companies like Rocket do not offer that..
Another key difference is when it comes to growth from an interesting perspective. Rocket focuses a ton on retaining clients which is great but UWM has a different mindset and approach. $GHIV focuses on helping the brokers grow..
UWM want them to retain their clients, even if it doesn’t come back to UWM & that’s become a really big channel conflict. If a broker has to originate, or the way they make their money is getting loans in their community, and then they have to compete with Rocket up front..
then they are going to send it to Rocket and Rocket is going to call the client after. That’s not great. So, by Rocket being so great at what they do, to their credit, it actually hurts the broker channel, and brokers don’t love that. You also grow big partnerships w the brokers
Rocket is great at what they do & I was about of investing in Rocket during it's big run but sometimes it's who's in the rearview mirror that you need to worry about & $GHIV is doing everything right when it comes to differentiating themselves in their industry. Have a good day.
You can find all of this in multiple UWM presentations on SEC filings and people just FYI

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New: the European Parliament's announcement that it will not ratify any treaty before the end of December unless the deal is concluded by midnight on Sunday comes amid signals that, despite progress, a deal won't be concluded until early next week.

2/ This is because there are still some formidable hurdles in the way of closure on the level playing field issue, and they haven't even got into fisheries in a big way yet. And both sides say things there are "extremely difficult".

3/ Yesterday there were some signals that a deal could be done by the weekend, but the mood seems to have dipped somewhat.

4/ The EP is saying it wants a "provisional" text from the European Commission "as soon as possible" - not clear if that means even before the midnight deadline

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George Riddell
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Been a lot of discussion recently around services trade in the deal between the UK and EU. Having read through the agreement over the past couple of days, my impressions👇

First off, services is definitely included. Question for service providers, is will it be enough?

1/N

My overall impression is that the EU has offered among the best in class for its FTAs similar to Canada and Japan.

But this access is a far cry from access to the Single Market and how is constructed as part of a trade agreement for the EU reflects that.

2/n


Unlike for goods trade, once you've got a product through all the customs and regulatory procedures into the EU, it can be sold anywhere in the EU, or its "entered circulation".

For services trade, that isn't the case. Its still done on a member state by member state level.

3/n

This is even true in the trade agreement itself where although the provisions set out in the Services and Investment chapter sounds awfully good - lots of principles about the freedom to establish and allowing the cross-border trade in services.

It's only when...

4/n

You get to the annexes and you realise both the EU and individual member states have put entry conditions across huge areas of different services sectors both now (existing measures) & in the future. Don't worry too much about the future reservations, it's the existing ones.

5/n
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Luke McGee
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@lukemcgee
Many Brits live under the false impression that the UK has a Special Relationship with the US. In reality, it's far more transactional, especially for the Americans. This delusion is especially dangerous as post-Brexit UK seeks a new place in the world

While the two do have a very close relationship on security and defence built on post-war efforts, it would be foolhardy to expect any US president to place much emphasis on the UK's economic interests over any other third country

The problem Boris Johnson has is that a close relationship with the White House is more important than any time since the war, given the UK's new status outside the EU. What a headache, then, that the US is having an election with 2 v different candidates

On one hand: Trump likes Brexit, dislikes the EU and might see benefit in disrupting the EU by teaming up with the UK in a way that helps the UK economically. However, Trump is wildly unpopular in the UK and Boris does not want to be seen as his best mate

On the other: Brits are generally more pro-Democrat & more pro-America when a Dem is in the White House. However, Biden clearly does not support the UK's Brexit position, especially when it comes to Northern Ireland.
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Bloke From Barnsley #Is #Sisu
Bloke From Barnsley #I...
@nickynoo007
1. It surprises me that on the whole pro Europeans on Twitter view themselves as pragmatists, who rely on evidence to form their opinion.
In fact a long running joke in our 'group' is that Brexit will be a roaring success, if we all just believe hard it will be a roaring success.

2. The last couple of weeks have made it clearer than ever that blind belief that is impervious to evidence and facts is not a leave/remain thing. It's a human thing

3. I was accused of lying and hounding a 'vulnerable' person off Twitter. When the victims of that 'vulnerable' got the same treatment, it became necessary to take action.

4. So I gathered evidence (not all, but enough) and wrote a blog with contributions from several others. Then the blog was checked by experts to ensure that it was neither libellous (to protect authors) or a risk to any possible legal action (to protect victims).

5. I naively thought that would put an end to the false accusations and trolling.
Since publishing I've been accused of having called the "vulnerable' person and threatened members of their family, forcing them to confess to the police
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Holger Hestermeyer
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It is time to talk Brexit and standards again. (thread)


Let's start off with: I don't think any trade experts are surprised by this. It is why the TCA did not do much on SPS. It is why the EU did not offer much on SPS. It is why the UK did not ask much on SPS.

But it also shows that the popular slogan "after Brexit we'll have the same standards as before, so why would anything change in trade" was wrong - and worse, it was purposefully trying to stifle a necessary debate.

And this leads me to the next point: I have no issue with changing the rules, I have a massive issue with how it is done. Here's what we should discuss:

The decisive question: What are the standards the UK as a country wants. To inform this debate, we need the following information:
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