Deal gives the nation’s biggest provider of riskier “non-QM” mortgages additional capacity to offer more traditional loans backed by Fannie and Freddie, FHA, VA and USDA. Continue reading
Fitch Ratings warns of potential dowgrade of Rocket debt rating if Redfin and Mr. Cooper deals close, while decline in share price suggests investors have doubts Mr. Cooper is worth $9.4 billion. Continue reading
The all-stock deal is set to close in Q4 2025. Mr. Cooper Group Chair and CEO Jay Bray will become president and CEO of Rocket Mortgage while reporting to Rocket Companies CEO Varun Krishna. Continue reading
Lenders no longer under orders to keep a sharper lookout for appraisal bias or have a process for helping borrowers who suspect appraisal bias to ask for a “reconsideration of value.” Continue reading
Rocket executives say that a whopping $20,000 in savings from unifying home search, buying, selling, mortgage, title and servicing could allay antitrust concerns and keep regulators at bay after the deal closes. Continue reading
Rocket CEO Varun Krishna and Redfin CEO Glenn Kelman shared with Inman why they agreed to merge as part of a $1.75 billion acquisition. AI, data and a complete consumer experience were at the center of it. Continue reading
Canadian mortgage strategist blames the country’s securitization market, which allows the country’s six biggest banks to sell mortgages to investors but is closed to smaller lenders. Continue reading
In a difficult year for real estate, Rocket Mortgage grew closed loan volume by 29 percent, to $101.2 billion, and higher profit margins on those loans helped boost net revenue by 34 percent, to $5.1 billion. Continue reading
RESPA complaint that accused Rocket Homes of favoring real estate agents who steered clients to Rocket Mortgage is dismissed “without prejudice” by CFPB’s new leadership. Continue reading
In a year when home sales hit a three-decade low, the nation’s biggest mortgage lender made $96.1 billion in loans to homebuyers — the company’s best year ever. Continue reading