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Rocket Mortgage

Rocket offers voluntary employee buyouts after Mr. Cooper, Redfin acquisitions

Mergers and Acquisitions, Mortgage, Mortgage and Housing Layoffs, Rocket Companies, Rocket Mortgage /

Detroit-based Rocket Companies is offering voluntary separation packages to some employees as part of its consolidation following last year’s acquisitions of Mr. Cooper Group and Redfin. “Rocket, Mr. Cooper and Redfin share a vision of a stronger, more connected homeownership platform built for long-term strength,” a Rocket spokesperson said. “As integration has progressed, we identified […]

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Rocket sees new allegations of ADA violations

Industry News, Law and legal issues, Mortgages, Rocket Mortgage /

A former Rocket Mortgage employee is accusing the company of creating a hostile workplace and violating the American with Disabilities Act due to her medical conditions, according to a new discrimination lawsuit.  Processing Content In legal documents filed in Michigan federal district court in March, the former employee, Ashley Isberg, said company leaders intentionally derailed

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Lenders offer pricing promos in anticipation of a hot market

Marketing, MARKETING TO BORROWERS, Mortgage Rates, Originations, Rocket Mortgage, UWM /

Mortgage lenders are rolling out new promotions as they compete for borrowers in a fluctuating rate environment, with both refinancing and purchase incentives becoming more common. Processing Content United Wholesale Mortgage recently introduced two offers: one providing a 75 basis point boost on conventional and government refinancings, and another offering a $600 appraisal credit for

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Rocket’s acquisitions lift Q4, 2025 still down

Earnings, M&A, MARKETING TO BORROWERS, Originations, Rocket Mortgage /

Rocket Cos. ended what has been a monumental year for the company with significantly reduced fourth quarter earnings contributing to a loss for all of 2025. Processing Content GAAP net income of $68 million compared with a net loss of $124 million in the third quarter but net income of $649 million in the fourth

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Rocket, Compass join forces on Redfin listings

Originations, Real Estate, Rocket Mortgage /

Rocket Mortgage is partnering with Compass to share listings on Redfin, in a major deal which also includes pricing promotions.  Processing Content The companies Thursday announced a 3-year partnership for Compass to share its “Coming Soon” and “Private Exclusive” listings to Redfin, which they said could bring over 500,000 more listings on Redfin. Rocket offerings

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Rocket Pro executive Mike Fawaz leaves the megalender

Rocket Pro executive Mike Fawaz leaves the megalender

CAREER & COMPENSATION, Career moves, Mortgage brokers, Rocket Mortgage /

Rocket Pro leader Mike Fawaz, one of the company’s most public-facing leaders, has left his position.  Processing Content The executive vice president, who’s been with Rocket since 2011, made his announcement in a Linkedin post Monday, and his employer confirmed his departure Tuesday. Housingwire first reported the news. His exit comes two weeks after general

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Exclusive: Mike Fawaz announces departure from Rocket Pro

HWmember, LendingLife, Mortgage, Mortgage Broker, People Movers, Rocket Companies, Rocket Mortgage, Team Leaders, Wholesale Lending /

Mike Fawaz said Monday that he’s departing Rocket Pro after roughly 15 years with the company and plans to announce his next steps in March. “After nearly 15 years, I have made the thoughtful decision to step away from Rocket,” Fawaz said in a statement given to HousingWire. “After significant reflection, I believe this is

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Rocket Mortgage alleges $194,000 loss in broker fraud lawsuit

California, HWmember, Lawsuit, Legal, Michigan, Mortgage, Mortgage Fraud, Rocket Mortgage, United Wholesale Mortgage /

Rocket Mortgage has sued a California mortgage brokerage and one of its executives, alleging they knowingly submitted fraudulent loan applications that concealed borrowers’ debts and caused financial losses after the loans were sold to investors. In a complaint filed Tuesday in the U.S. District Court for the Eastern District of Michigan, Rocket Mortgage said Sharp

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Rocket sues broker over repurchases in case involving UWM

Law and legal issues, Mortgage brokers, Originations, Rocket Mortgage /

Rocket Mortgage is suing a broker for originating loans for his customers with United Wholesale Mortgage days before the Detroit giant funded additional loans for those same borrowers. Processing Content The lender’s repurchase lawsuit, filed Tuesday in Michigan, does not accuse UWM of wrongdoing, nor does it name the company as a defendant.  The complaint

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Sogorka leaving Rocket Pro, Niemiec returns as role shifts

Sogorka leaving Rocket Pro, Niemiec returns as role shifts

CAREER & COMPENSATION, Career moves, Mortgage brokers, Rocket Mortgage /

Daniel Sogorka, the general manager of Rocket Pro since September 2024, is leaving the post, the parent company confirmed. Processing Content News about Sogorka’s departure was first announced internally on Friday and was first reported in several mortgage industry publications. Dan Sogorka, general manager at Rocket Pro TPO.Courtesy of Rocket Cos. He said his time

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