In a newly created role at Rocket Pro TPO, the former Sagent CEO is tasked with winning more business from mortgage brokers by leveraging Rocket’s data, technology and AI capabilities. Continue reading
Lender creates and funds an escrow account that’s used to cover the difference between the full monthly mortgage payment and the payment with the reduced rate until the buydown expires. Continue reading
In Q2 earnings, the nation’s largest mortgage lender posted a healthy $76 million profit, paid down debt, and said it’s in prime position to capitalize and grow as mortgage rates drop. Continue reading
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
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
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
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 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
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
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