Rocket is deploying scalable AI across an entire fintech platform

Ahead of his Connect NYC appearance, CEO Varun Krishna details the mortgage giant’s ambitious goals to grow its purchase loan business in 2025 by building closer ties to real estate agents and mortgage brokers. Continue reading

Rocket accused of using ‘kickback scheme’ to attract more borrowers

The Consumer Financial Protection Bureau claims Rocket gave real estate agents incentives to steer consumers away from other companies. Rocket calls the allegations a “lie” and political ploy. Continue reading

Rocket hires first group CTO to accelerate AI development

Qualcomm and Intel veteran Shawn Malhotra comes to Rocket from Thomson Reuters where, as head of engineering, he helped the global media giant develop a cloud-based, API-driven generative AI platform. Continue reading

Rocket hires first group CTO to accelerate AI development

Qualcomm and Intel veteran Shawn Malhotra comes to Rocket from Thomson Reuters where, as head of engineering, he helped the global media giant develop a cloud-based, API-driven generative AI platform. Continue reading

Shares in Rocket up after hours as investors roll with $233M Q4 loss

Mortgage giant reports positive adjusted earnings for the third consecutive quarter, “despite some of the most difficult industry conditions in three decades,” CEO Varun Krishna says.  Continue reading

Fully digitized closings can save lenders more than $400 per loan

Snapdocs research finds often overlooked secondary market efficiencies like reduced funding cycle time account for about 80 percent of savings. Continue reading

Amrock aims to offer smartphone closings everywhere they’re allowed

The Rocket Companies subsidiary will roll out mobile eClosings for purchase loans by the end of 2022, an indication the practice of attending a closing in person may soon be coming to a close. Continue reading

Rocket says it’s preparing for further declines in mortgage profits

Buyout offers to approximately 2,000 workers are expected to save nation’s biggest mortgage lender roughly $180 million per year, according to a Q1 earnings call on Tuesday. Continue reading

Rocket and Wells Fargo eye buyouts and layoffs in face of rising rates

Rocket Mortgage and Amrock, Rocket’s title and settlement company, are offering buyouts to 8 percent of its workforce while Wells Fargo confirmed with Inman that it laid off employees last week. Continue reading