With unemployment surging due to the coronavirus pandemic, many Americans are struggling to pay their mortgage. Jay Farner, CEO of Quicken Loans, told Cheddar Friday that the company is focused on educating customers about their available options.
"There's been a lot of news out in the media, you're hearing from the federal government, you're hearing from governors, you're hearing from mayors, and so, trying to educate our clients on the options that they have as they think about their mortgage payments has been important to us," Farner said.
Interest rates recently hit at all-time lows, driving a record number of homeowners to refinance their mortgages. Farner noted the company recently had its best month in company history -- even with nearly its entire workforce working from home.
"When you look at the uncertainty in the marketplace that is usually helpful to interest rates and bringing them down. So, what we're telling people is now is the time to take advantage," he said.
In addition to client outreach, Farner noted Quicken Loans' efforts to support communities by donating money to charitable organizations and purchasing face masks and gloves for healthcare workers on the frontlines.
"That's probably the number one thing you can do. Making sure you're taking care of your team members and community that you serve. If you can do that then you've got all the right capabilities to take care of your clients," Farner said.
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
