Scaling from Freelancer to Business Owner

Mortgage subsidiary Newrez expects to begin moving borrowers onto the platform by 2027, with the deal marking its second major tech investment this year. View the full article

Portfolio enhancements and diversifications cushion the impact of the L.A. wildfires from RMBS losses. View the full article

A successful summer pilot led to wider rollout of a program, whereby Robinhood Gold subscribers will be able to find discounted rates and closing costs. View the full article

Rocket denied the allegations, saying the lawsuit is a retread of a case the Consumer Financial Protection Bureau filed that was quickly dismissed. View the full article

The $1.15 billion agreement earmarked for general corporate purposes can increase to $2.25 billion pending the lender's acquisition of Mr. Cooper. View the full article

Here's what mortgage professionals should know about Rocket's rebranding, its $1.75B play for Redfin, dropped CFPB lawsuit and more. View the full article

The Ohio Supreme Court nixed a consumer's attempt to secure relief for over 1,000 borrowers, regarding fines the lender owed them over late paperwork. View the full article

As a market leader, Rocket Companies rebranding comes in the foreground of several court battles and fluctuating earnings performance. View the full article

Rocket expects the combined company to achieve more than $200 million in run-rate synergies by 2027, it said in a statement. View the full article

The deal, expected to close by the end of 2025, will place Mr. Cooper CEO Jay Bray as president and CEO of Rocket Mortgage. View the full article

The megalender revealed it employed 14,200 team members at the year's end. View the full article

VantageScore 4.0 has been incorporated into the existing processes at Rocket for both the retail and mortgage broker-facing origination businesses. View the full article

The regulator argues the company is attempting to thwart a pending enforcement action involving an alleged discriminatory appraisal in 2021. View the full article

Rocket enters the crowded DSCR market with a product for experienced investors, joining rivals as non-QM lending grows and demand for single-family rentals stays strong. View the full article

The reduction in force affects under 1% of Rocket's team, with the decision to streamline operations made following identifying overlapping roles post-merger. View the full article

The lender, in addressing claims first raised by the Consumer Financial Protection Bureau, said its activities are protected by safe harbor provisions. View the full article

United Wholesale Mortgage lost ground to RKT in one category but held onto a healthy lead in another, an analysis of Home Mortgage Disclosure Act data shows. View the full article

A California consumer who applied for a refinance in November says he was unaware his data, including financial details, was shared with advertisers. View the full article

Second-lien mortgages make up the collateral pool. Those assets normally have a high expected loss severity, but the borrowers appear to be of prime credit quality. View the full article

Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume. View the full article

The move comes three months after Katie Sweeney, former BAC CEO, announced she would be stepping into an executive advocacy role for Rocket's Pro channel. View the full article

Company veteran Austin Niemiec is running the wholesale arm after the departures of Fawaz, a prominent broker advocate, and general manager Dan Sogorka. View the full article

The massive wholesale lender's new website stands opposite rival United Wholesale Mortgage's own originator portal which it launched in 2018. View the full article

Starting April 22, mortgage brokers will be able to access Rocket Pro's loan pricing, interest rates and product eligibility, the company announced. View the full article

A Colorado regulator earlier this year revoked the license of the appraiser responsible for the 2021 evaluation at the center of the government's suit. View the full article