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
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
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
Citing recent court victories, UWM says, “It is not uncommon nor illegal for a broker to send most or all of their business to a specific lender.” Continue reading
The Detroit-based lender unveiled “Rocket Logic” on Tuesday, an AI-fueled platform that can glean insights from 10 petabytes of proprietary data and transcripts from 50 million borrower calls each year. Continue reading
Hunterbrook Media founder dismisses Ishbia’s take as “baseless conspiracy theory”, while Rocket says it and founder Dan Gilbert have no financial interests or relationship to Hunterbrook. Continue reading
If homebuyers are no longer willing to pay full commissions, what happens to lender programs that incentivize consumers to work with partner real estate agents? Continue reading
The nation’s biggest mortgage lender posts its first annual loss since going public in 2020, largely driven by $854.1 million in write-downs of mortgage servicing rights. Continue reading
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
With the addition of new partners serving 713,865 members, myCUmortgage says it’s now helping nearly 200 credit unions originate, underwrite and service conventional and government-backed home loans. Continue reading