Morning Roundup (2/28/25) – Rocket Earnings

ByTMN Editor Reading Time: 2 minutes
Good Morning! Today is Friday, February 28. A federal judge found that the mass firings of probationary employees were likely unlawful. Iowa lawmakers voted to end civil rights protections for transgender people. Attorney General Pam Bondi released a batch of files related to Jeffrey Epstein.

The Mortgage Note Reports

Outstanding Year: Rocket Companies has been investing in technology and it is paying off, according to their 2024 results. Editor Kimberley Haas has the story.

Affordability Win: Mortgage rates dropped nearly 10 bps to 6.76%, their lowest level in months and the sixth week of declines.

Leadership News: Regions Mortgage named Drew Chuba as senior vice president, Home Loan Direct centralized sales and enablement manager.
Quote Of The Day“

Although rate improvements offer relief for buyers, market volatility is expected to persist in the coming months as economic policies and data continue to influence investor sentiment.”

Samir Dedhia, CEO of One Real Mortgage.
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In other mortgage and housing news…

Rocket Lawsuit: The CFPB dismissed a lawsuit against Rocket Homes and the Jason Mitchell Group with prejudice, ending the litigation which accused both companies of engaging in an illegal kickback scheme.

PCE: The Fed’s preferred inflation gauge showed prices up on a monthly basis but down YOY, which should keep rates on hold when the central bank meets next in March.

Payment Pressure: Affordability declined in January, with the national median payment applied for by applicants increasing to $2,205 from $2,127 in December.

Buyers Back Out: One in seven pending home sales was canceled in January, the highest during this time of year on record.

Company News: Service 1st announced four senior hires; ARDRI will enter the non-QM lending market in March.

“Harm To Privacy”: DOGE has gained access to a HUD system containing confidential personal information about hundreds of thousands of alleged victims of housing discrimination, including victims of domestic violence.