Rocket Companies on Tuesday announced third-quarter financial results that included closed loan origination volume of $89 billion, a 122 percent increase over the third quarter of 2019.
Rocket Companies also reported:
- Increased net revenue by 186 percent and adjusted revenue by 163 percent, with as total expenses increasing by 46 percent.
- In addition to $89 billion in loan origination volume, the company saw a net rate lock volume of $94.7 billion – a 101 percent increase over 2019.
- Increased other income by 140 percent year-over-year, which included Amrock’s strong growth from title insurance services, property valuation, and settlement services as a result of the increase in origination volume.
“In the midst of the pandemic, we were able to help an unprecedented number of Americans buy and refinance homes, providing financial relief through our tech-driven platform and award-winning service,” Rocket Companies CEO Jay Farner said. “Rocket Companies assisted more clients in the third quarter of 2020 than any quarter in our 35-year history.”