Latest Updates Around The World
Jay Bray, CEO of Rocket Mortgage, said the connection between brokers and Compass agents will be rolled out in phases. “There are existing partners that already have relationships with Compass agents. In phase two, we will actually proactively connect our broker partners with the Compass agents.” Bray said the housing market has been stagnant for […]
National Mortgage News and Mortgage Professional America (MPA) first reported the lawsuit. Rocket claims the broker failed to disclose that the borrowers had taken out multiple mortgages United Wholesale Mortgage (UWM) in the days leading up to the closures, despite contractual obligations. UWM is not a party to the lawsuit and is not accused of […]
“I am honored to return to Rocket Pro and champion the agents who make homeownership possible in the communities they serve,” Niemiec said in a statement. “Together with Katie [Sweeney]Cory [Scholl], [Mike] Fawaz and the broader team, we will deepen partnerships and achieve faster, more impactful results for loan officers and homebuyers alike. Sogorka joined […]
Based in Detroit Rocket companies was hit Monday with a class action lawsuit accusing one of the nation’s largest mortgage lenders of steering consumers toward its loan products “even though Rocket Mortgage’s terms are disadvantageous to customers.” The charges were filed in the United States District Court for the Eastern District of Michigan. The plaintiffs […]
My friend Tony Paul of the Detroit News has a great story article about the leadership change at The Rocket Classic. Because the tournament may not be extended beyond 2026, former Michigan State AD Mark Hollis has been named director. Hollis has a reputation as something of a mad marketing genius, with stunts like a […]
“Rocket delivered an excellent quarter, balancing short-term and long-term execution in a category of one. I am very proud of the Rocket team for exceeding the high end of our adjusted revenue guidance, driving the Redfin momentum and closing the Mr. Cooper transaction – the largest independent mortgage company deal in history,” said Varun Krishna, […]
“Following Mr. Cooper’s acquisition, we carefully reviewed our combined structure, identified overlapping roles and made the difficult decision to streamline teams,” the company said in a statement. HousingWire. Rocket completed the $14.2 billion acquisition in early October – approximately 51% higher than the valuation announced in March – after completing all necessary approvals. Jay Bray […]
Combined, the companies will have a service portfolio of nearly 10 million homeowners. At the end of the second quarter, they jointly owned $ 1.27 trillion owned by MortGage Servicing Rights (MSRS), according to Within mortgage financing. Rocket mortgage production rose to $ 29 billion from April to June, while Mr Cooper financed $ 9.4 […]
Jason Bressler from UWM encourages the use of AI brokers to ‘control your own fate’ United Wholesale Mortgage (UWM) Chief Technology Officer Jason Bressler used the Housing AI -top to warn brokers about consolidation in the industry while encouraging them to control AI to protect their independence. He presented the Leo and Mia agents of […]
“We called a delayed season of the home tube of the spring, and that is exactly what happened,” Varun Krishna, CEO of Rocket Companies, told analysts on Thursday. “April was quite abnormal; there was a lot of volatility. You had rates, immersing rates and climbing, a fall in consumers. In general, affordability was a bit […]
