Rocket Mortgage
Rocket Mortgage is the nation’s largest mortgage lender by volume. Formerly known as Quicken Loans before it was rebranded in 2021, Rocket primarily operates in the retail space, but also has a rapidly increasing share in the wholesale channel, under the name of Rocket Pro TPO, in addition to having a presence in the correspondent channel. Headquartered in Detroit, Michigan, Rocket Mortgage’s umbrella company, Rocket Companies, is publicly traded on the NYSE under the ticker RKT.
Rocket Mortgage Founder and Chairman Dan Gilbert has been one of the most well-known leaders and masterminds in mortgage since he founded the company in 1985. Under Gilbert’s leadership, Rocket Mortgage has been the preeminent first-mover in the online lending space. In 2011, Rocket (then Quicken Loans) became the first mortgage lender that allowed consumers to get a mortgage through a mobile app, called Rocket Mortgage.
Rocket Mortgage has been the No. 1 overall mortgage lender in the country since 2017. In 2020, Rocket originated $320 billion in mortgages – largely because of the refinance boom. Consumer-level awareness of Rocket Mortgage has skyrocketed because of the company’s healthy advertising budget. They are a frequent advertiser in the sports entertainment world, and regularly air television and radio commercials nationally.
Rocket Mortgage has benefited greatly over the years from its strategic partnerships with other companies in the financial services and fintech categories, such as State Farm, Morgan Stanley, E-Trade, and Truebill, among others. These partnerships give Rocket easy access to millions of consumers who, when it comes time to purchase or refinance a home, can easily utilize Rocket’s technology.
Latest Posts
HUD accuses Rocket, appraisal companies of discrimination
Jul 15, 2024HUD has accused Rocket Mortgage and other parties of issuing a biased valuation and denying a refinance loan to a Black homeowner.
-
Rocket Pro TPO waives origination fee for home equity loans
Jul 15, 2024 -
Rocket names Heather Lovier as chief operating officer
Jun 26, 2024 -
Rocket Mortgage continues push into AI with Instabase partnership
Jun 25, 2024 -
Former Rocket employee alleges workplace discrimination in new lawsuit
Jun 24, 2024 -
Michael Saleh leaves Rocket to launch brokerage firm Zoom Home Lending
Jun 20, 2024 -
Judge approves Rocket’s $3.5M settlement over unpaid employee overtime
Jun 13, 2024 -
Will AI replace mortgage jobs? Not exactly, execs say
Jun 05, 2024 -
Rocket settles $3.5M lawsuit alleging unpaid employee overtime
May 21, 2024 -
Rocket settles fair lending case on tribal lands
May 13, 2024 -
Rocket bets big on AI for bespoke customer experiences
May 09, 2024 -
Rocket hires former Thomson Reuters, Intel executive as its first CTO
May 06, 2024