By KIMBERLEY HAAS Conflicts between regulations requiring appraiser independence and recent enforcement actions are the basis of a lawsuit filed in federal district court. Lawyers for Rocket Mortgage are asking for declaratory and injunctive relief after officials at the U.S. Department of Housing and Urban Development charged the company with housing discrimination. HUD claims a…
Rocket Companies has secured the domain name Rocket.com, setting the stage for a brand revamp next year. Elliot Silver at DomainInvesting.com reported that Rocket.com had been sold back in September. Now, reports suggest Rocket spent $14 million on the domain, buying it from defense contractor L3Harris Technologies. The transaction was referenced in a recent filing…
By KIMBERLEY HAAS As lenders work to stay on top of advances in artificial intelligence, companies are hiring the top minds in mortgage technology. Mortgage technology expert Dan Sogorka officially joined Rocket Pro TPO as its general manager on Sept. 3. He has been running mortgage tech companies for the last 25 years. “I love…
By KIMBERLEY HAAS Rocket Companies has been hiring high-level technology leaders as the fintech platform builds and implements AI-powered products. The newest addition is Papanii Okai, Venmo’s chief technology officer and former PayPal technology executive. Okai was named executive vice president of product engineering effective Oct. 7. In this newly created role, Okai will work…
Rocket Mortgage has joined forces with Annaly Capital Management, the world’s largest residential mortgage real estate investment trust, as its servicing and recapture partner. Rocket will handle all servicing and recapture activities for a portion of the mortgage servicing rights held by Annaly. “Rocket is committed to the entire homeownership experience from budgeting and credit…
By KIMBERLEY HAAS After months of anticipation, the Federal Reserve cut interest rates by half a percentage point at its meeting this week. This move is expected to boost consumer confidence and bring potential home sellers and buyers off the sidelines and into the housing market. In a statement, officials said members of the Federal…
Rocket Pro TPO is the first company to raise the national conforming loan limit, up from $766,550 to $802,650. The new limit for Alaska and Hawaii is $1,203,975. Buyers can now access 2025’s limits for conforming loans, which could mean less money down, more cash out, or better pricing for clients who need loans above…
By KIMBERLEY HAAS During the first Investor Day held by Rocket Companies, Founder Dan Gilbert shared his vision for the Detroit-based fintech platform. During an on-stage chat with President Bill Emerson, Gilbert said the influence of the internet became clear in the 1990s and since mortgages are not a physical item, it was obvious to him…
Mortgage tech expert Dan Sogorka has joined Rocket Pro Third Party Origination as its General Manager, the company announced. Sogorka brings extensive experience to the newly created role, which he officially started on September 3. “I’ve spent decades leveraging technology to simplify the complex home financing process. Now, I’m eager to tap into that skillset…
By KIMBERLEY HAAS The executive vice president of Rocket Pro TPO has some advice for the broker community as temperatures cool and autumn begins: Ignore the noise. “We live in a world where there’s so much noise out there. I mean, there’s stuff on social media. If you turn on the TV, you hear stuff…
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