Rocket posts $709M profit in Q3 despite tougher mortgage market
Rocket guided Q4 adjusted revenue to range of $2.1 billion to $2.3 billion while noting that refis could drop nearly 50% from Q3
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Rocket’s amended complaint says UWM targeted Mr. Cooper borrowers
Rocket claims that UWM provided brokers with lists identifying specific loans to target
Rocket Pro to build 3 mortgage tech tools pitched by brokers
The company presented three prototypes created from broker-submitted ideas for its Big Pitch contest
Rocket weathers spring housing slowdown, gaining purchase and refi share in Q2
Rocket Companies reported high second-quarter earnings on Thursday, driven by increased mortgage origination volume, servicing income and record market share gains in both purchase and refinance lending, even as the broader housing market remained challenging.
UWM broker ultimatum tied to 5 bps price drop at rivals
United Wholesale Mortgage’s 2021 move to bar its broker partners from also sending loans to Rocket Mortgage drove an average price decrease of 5 basis points per loan at companies not targeted by the policy, according to a new academic paper.
Rocket Mortgage, Rocket Pro adopt VantageScore 4.0
Rocket began using VantageScore 4.0 with Classic FICO, as FHFA pilots the model and lenders delivered $10 million in loans to Freddie Mac.
Rocket beats earnings guidance with strongest quarterly profit in four years
Rocket Companies reported its most profitable quarter in four years as artificial intelligence initiatives, a larger servicing portfolio and recent acquisitions helped the Detroit-based firm grow market share despite a choppy mortgage backdrop.
Rocket offers voluntary employee buyouts after Mr. Cooper, Redfin acquisitions
Rocket Companies is offering voluntary separation packages to some employees as part of its consolidation following last year’s acquisitions of Mr. Cooper Group and Redfin.
Rocket Pro doubles broker credits with Compass deal, unveils ‘Jupiter’ LOS
Rocket Pro announced a partnership with Compass to offer additional credits to brokers and unveiled a new loan origination system during its Ignite26 event.
Rocket grows revenue to $6.7B, expands market share in 2025
Rocket CEO Varun Krishna said the results capped a “transformational year” for the company, citing stronger market share and growth.