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Rocket Mortgage

Pennymac, Rocket, UWM: What analysts expect in Q4 earnings

Earnings, loanDepot, Rocket Mortgage, UWM /

Fourth-quarter results for nonbank mortgage lenders should highlight differences in business models, balance sheets and strategic bets as lenders position themselves for growth in a still-uneven housing market, analysts say. Processing Content From PennyMac’s perceived valuation gap to Rocket’s acquisition-driven quarter and United Wholesale Mortgage’s steady volume gains, analysts see diverging paths among the largest […]

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Rocket accused of steering buyers to its mortgage business

Law and legal issues, Regulation and compliance, Rocket Mortgage /

Rocket is being sued for allegedly directing clients to its mortgage business and away from cheaper loan options. Processing Content Three plaintiffs filed the suit Monday in the U.S. District Court for the Eastern District of Michigan. They accused Rocket of exploiting the “vulnerability of homebuyers for profit,” by steering prospective borrowers to use their

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Rocket Mortgage sued over third party web trackers

Cyber security, Law and legal issues, Mortgage technology, Rocket Mortgage /

Rocket Mortgage is being accused of selling mortgage applicants’ sensitive financial data to third parties, via surreptitious trackers on its website.  Processing Content Gary Fedoroff, who applied online for a refinance last November, filed a class action lawsuit in a California federal court last week accusing the megalender of unlawfully disclosing applicants’ information. The complaint

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Rocket CFO touts ‘all-weather’ model as mortgage market improves

Fitch Ratings, HWmember, LendingLife, Mortgage, Mr. Cooper Group, Origination, Redfin, Rocket Companies, Rocket Mortgage /

Brian Brown, chief financial officer and treasurer for Rocket Companies, expects continued improvement in the mortgage market in 2026, building on momentum that emerged in the second half of 2025. “If you look at the mortgage forecasts, it depends on which one you choose, but they’re up anywhere from 8% to 25% based on the

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Redfin CEO Glenn Kelman steps down after 20 years

Career moves, Industry News, Redfin, Rocket Mortgage /

Long-time Redfin CEO Glenn Kelman is leaving the firm, he announced in a LinkedIn post Tuesday afternoon. Processing Content “After 20 years, I’m leaving Redfin,” he wrote. “I gave it my all! Leaving was my decision. I love my colleagues. We saved consumers a billion dollars in commissions. I hope to use all that I

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Rocket latest lender to add debt service coverage mortgages

Rocket latest lender to add debt service coverage mortgages

LOAN PRODUCTS, Originations, Rocket Mortgage, Underwriting /

Rocket Mortgage has come out with a debt service coverage ratio product in both its wholesale and retail channels, joining a rather competitive landscape of both non-qualified mortgage specialists and more traditional lenders like its rival United Wholesale Mortgage, that already serve investors looking to finance rental properties. Another recent entrant with a suite of

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Rocket’s integrations of Redfin, Mr. Cooper lift Q3 results above forecasts

Earnings, HWmember, LendingLife, Mortgage, Mr. Cooper, Origination, Redfin, Rocket Companies, Rocket Mortgage, Varun Krishna /

Rocket Companies reported a third-quarter 2025 adjusted net income of $158 million on adjusted revenue of $1.78 billion, exceeding the high end of its guidance range, the Detroit-based mortgage lender said Thursday. On a GAAP basis, the company posted a net loss of $124 million on total revenue of $1.61 billion, up from Q2 2025’s

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Rocket layoffs related to Mr. Cooper deal get underway

CAREER & COMPENSATION, M&A, Originations, Rocket Mortgage /

Following its absorption of the Mr. Cooper and Redfin organizations, Rocket Companies confirmed it conducted a round of layoffs on Oct. 17, in line plans for cuts announced in second-quarter earnings. The reduction in force affected less than 1% of its team, the company said in a statement, confirming information which appeared in HousingWire. “Following

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Mr. Cooper costs Rocket $5B more than first announced

Career moves, LOAN PRODUCTS, M&A, Originations, Rocket Mortgage, Servicing /

Rocket Cos. has closed its acquisition of Mr. Cooper, just six months after the transaction was first announced, with a near $5 billion increase in valuation. The transition has already begun; Mr. Cooper and all servicing functions are being rebranded  under the Rocket umbrella. Right now, the company is being branded as Mr. Cooper powered

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