Tim Birkmeier, Rocket Mortgage president, is retiring from the company and the industry altogether. After nearly three decades with Rocket, Birkmeier announced his leaving in a LinkedIn post. “As I move on to the next chapter in my life, I hope to have proven to those at RKT what can be accomplished when you are…
The country’s two largest mortgage lenders reported unexpected profits in the second quarter of 2023. United Wholesale Mortgage and Rocket Companies both bounced back last quarter after dismal results at the beginning of the year. UWM reported a net income of $228.8 million, making up for losses of $138.6 million in the first quarter of…
Fintech exec Varun Krishna has been named CEO of Rocket Companies, the parent company of Rocket Mortgage. “I am honored to join the Rocket Companies team,” Krishna said in a statement. “Rocket has a rock-solid foundation and tremendous potential, with its comprehensive ecosystem and industry-renowned technology, strong brand, and award-winning client service. I look forward to…
By KIMBERLEY HAAS After a 27-year career, Rocket Companies CEO Jay Farner is retiring this week and he will be remembered as a keen businessman who helped make mortgages more accessible to average Americans as technology pushed transactions out of traditional offices and onto mobile devices. Leaders at the company announced Farner’s retirement on February…
By KIMBERLEY HAAS Leaders at Rocket Companies in Detroit have launched a credit card designed for potential homebuyers and homeowners. Cardholders can earn 5% back – up to $8,000 – to use for closing costs and down payments with the Rocket Visa Signature Card. Homeowners with loans serviced by Rocket Mortgage can use points to receive…
Leaders at Rocket Companies have debuted a credit card with cashback rewards designed for homebuyers. The Rocket Visa Signature Card is the first credit card with rewards created for this purpose, Rocket leaders said in a press release. “Every day, consumers tap their credit card to refill their gas tank, stock up on groceries or…
Long-time Rocket CEO Jay Farner is retiring after 27 years and he says the move will give him more time to focus on his family. Farner will officially retire effective June 1, 2023, according to a press release. He is also giving up his position on Rocket’s board of directors, effective immediately. “Being part of…
The 30-year fixed rate slipped slightly again last week, prompting some pent-up buyers to lock in a purchase, Freddie Mac reported Thursday. Freddie’s Primary Mortgage Market Survey found that the 30-year fixed-rate mortgage averaged 6.13%, down from 6.15% the week prior. A year ago at this time, the 30-year FRM averaged 3.55%. The 15-year fixed-rate…
Rocket Companies has rolled out a rewards program that allows consumers to get points towards various transactions across Rocket’s platforms, the company announced. In its first phase, consumers will be able to use Rocket Rewards on closing costs when financing a home through Rocket Mortgage. “Rocket Companies is known for delivering exceptional client service and…
Rocket’s CFO and General Counsel are both retiring, resulting in changes to its executive leadership, the company announced in a press release. Julie Booth, CFO and Treasurer, will be retiring effective November 15. She has been with Rocket Mortgage for nearly 20 years and has served as CFO since 2005. She will be replaced by…
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