Tag Archives: Rocket Mortgage

Rocket says AI helping it grow capacity and keep expenses flat

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With second quarter net income up 28 percent to $178 million, CEO Varun Krishna says Rocket is making “significant investments in data leadership and infrastructure.” Continue reading →

HUD: Appraisal that erased $220K in home value was discriminatory

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Appraisal management company Solidifi and lending giant Rocket Mortgage are also charged with violating the Fair Housing Act. Rocket says it expects to prevail. Continue reading →

Freddie Mac will dip a $2.5B toe into the second mortgage market

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Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans. Nonbank lenders have already made inroads into the business. Continue reading →

Are renters beating the system with Bilt Mastercard rewards card?

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Card issuer Wells Fargo is losing as much as $10 million a month as it eats interchange fees for users who are paying off balances after paying their rent, “The Wall Street Journal” reports. Continue reading →

Rocket Homes tech chief unpacks ‘Explore Spaces’ visual search tool

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Rocket Homes Chief Technology Officer John Fair told Inman the tool has already resulted in users spending nearly twice as long on the lender’s website and returning six times more frequently. Continue reading →

UWM hiring ‘hundreds’ as mortgage originations surge 24%

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Q1 net earnings of $180.5 million were boosted by the sale of $70 billion in mortgage servicing rights (MSRs) and a $141 million markup in the value of the $230 billion in MSRs UWM retained. Continue reading →

Rocket hires first group CTO to accelerate AI development

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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

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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 Mortgage picks up market share — and turns a tidy Q1 profit

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On its quest to reclaim the title of nation’s biggest mortgage lender, Rocket didn’t sacrifice profits, generating $291 million in net income as revenue grew 107 percent from a year ago, to $1.38 billion. Continue reading →

Billionaires brawl as everyone else just tries to get by: The Download

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As mortgage heads from UWM and Rocket fight it out in the press, it seems like both agents and consumers are just wondering how they’re going to pay the bills. Continue reading →