The billionaire hedge fund manager William Ackman has great ambitions for Stuyvesant Town, but he is also taking considerable risks. The sprawling apartment complex on the East Side of Manhattan could end up being either a cash cow or a huge headache for Mr. Ackman, who runs Pershing Square Capital Management.
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Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.
For government agencies, the road to a streamlined process is a hard slog through outdated technology, requiring battles with regulators and legislators. But that doesn’t stop them from trying.