Are You Ready To Fall In Love With A Home?

By KIMBERLEY HAAS This Valentine’s Day, if you are ready to get off the sidelines and into the housing market, you are likely not alone in your quest to find a place you love. Potential buyers are coming out of the woodwork and touring homes, according to Redfin’s Homebuyer Demand Index, which measures requests for tours and other buying services from Redfin agents. And although that hasn’t translated into home sales yet, they expect this increase in tours to convert into an improvement in pending sales over the next few months. Dana Anderson, a data journalist at Redfin, explained that more buyers are touring homes now because mortgage rates are holding steady at below 7% and some of these people…

Rocket Homes Search App Now On Apple Vision Pro

Tech-minded buyers can tour homes in virtual reality on the Rocket Homes app, now available on Apple Vision Pro. The app features a home search page and map of nearby listings. The listings fill the user’s entire field of vision and give a realistic sense of the location and layout of the home, including a “Look Around” option that lets them see the neighborhood and exterior. Listings that include 3D tours allow potential buyers to tour inside as well, seeing each room in detail. “At Rocket Homes, we know there are millions of people who are waiting for the right moment to buy a home. We also know that there are many ways to find and fall in love with…

AI Advocate Joins Rocket Board Of Directors

Rocket Companies has appointed an AI-oriented independent director to its Board of Directors, according to a press release. The new addition, Alex Rampell, is a general partner at Andreessen Horowitz who focuses on fintech investments. Described as a “serial entrepreneur,” he co-founded companies like Affirm, a leader in “buy-now-pay-later,” and TrialPay, a transactional advertising and payments company that was acquired by Visa in 2015. Rampell now promotes the responsible use of AI, which he says will bring about a new era of transformation and disruption in the financial services space. “When I heard [CEO Varun Krishna] speak about the AI tools Rocket is creating, and the massive amount of data at their fingertips, I was simply blown away,” said Rampell.…

Rocket Pro TPO Announces AI-Powered Hotline For Brokers

By KIMBERLEY HAAS A hotline that will give brokers the ability to make changes to approval letters at any time was announced by leaders at Rocket Pro TPO this week, and it is powered by artificial intelligence. Executive Vice President Mike Fawaz unveiled the new technology during an Ignite: Live! session on Monday afternoon. He demonstrated that to use the new AI system, all brokers have to do is make a call to provide the loan number, client name, and financing request. If approved, the system will update the appropriate documents. “This is a win for you. This is a win for us to be able to deliver to the broker community something that you can use that gives you…

The Mortgage Note Podcast: Moving Into 2024 With Motivation

It’s time to shake off 2023 and move into 2024 with a fresh perspective. Editor Kimberley Haas spoke with industry leaders who have tips for finding success in the new year and insights into the latest technology. If you would like to participate in future episodes, please email us at [email protected]. Read articles featuring the guests: Overcoming Objections And Winning Business With Ron Vaimberg Embracing Technology: One-On-One With Rocket Homes President Sam Vida Sign up for our free newsletter.…

Embracing Technology: One-On-One With Rocket Homes President Sam Vida

Artificial intelligence is changing how people buy homes and leaders at Rocket Companies are leaning in and embracing the latest technology. In December, it was announced that the Rocket Homes app is now available to potential buyers while they are driving through Apple CarPlay. Homes listed for sale can be seen in the “Nearby” tab. By tapping the vehicle’s screen, drivers can get directions to a home, call an agent, or save listings to their “Favorites.” Doug Seabolt, CEO of Rocket Homes, said at the time that the app is making house hunting more convenient for busy homebuyers on the go. “When looking for a new home, the search never stops – even when you are driving around town. That…

Rocket CEO Joins Board Of Directors

Rocket Companies expanded its Board of Directors to include CEO Varun Krishna. Krishna became the eighth member of the board effective December 21. His term is scheduled to end at the company’s annual meeting in 2026. Regulatory filings showed that Krishna will not be paid additionally for his new role. His earning potential as CEO is up to $20 million, factoring in base salary, bonuses, stock, and options awards. Board members who are not part of Rocket typically receive a retainer fee of $50,000, $3,000 per board meeting attended, and stock options. “We are thrilled to welcome Varun to the Board of Directors. With more than 20 years of experience in the fintech space, Varun brings with him a wealth…

How Will AI Change The Mortgage Market In 2024?

By ERIN FLYNN JAY As artificial intelligence plays an increasingly important role in the mortgage business, industry leaders are figuring out ways to harness its power to revolutionize homebuying. Dan Weisman, director of innovation strategy at the National Association of Realtors, said AI brings enhanced automation, efficiency, and transparency to the process. People who can effectively use it have the chance to dominate the landscape in 2024. “With artificial intelligence rapidly entering our lives faster than most could imagine, the industry has opportunities to improve analyzing market trends, assessing credit risk, and ensuring regulatory compliance, which will lead to a more tailored lending experience,” Weisman said in a recent interview with The Mortgage Note. For example, JPMorgan Chase is developing…

Rocket Now Shows You Nearby Homes For Sale On Apple CarPlay

Rocket Homes has a new plan for encouraging homeownership: showing Americans homes for sale as they’re driving. Rocket Homes, the real estate service arm of Rocket Companies, made its iOS app available in cars, trucks, and SUVs through Apple CarPlay in order to turn the “everyday commute into an exciting and natural part of the homebuying journey,” company leaders said in a press release. Users click the “Nearby” tab of the app on CarPlay to pull up homes listed for sale in the area. Drivers can then get directions to the home, call an agent, or save the listing for later viewing on their iPhone. “The Rocket Homes app is making house hunting more convenient for busy homebuyers on-the-go,” said…

Learn How Rocket Is Using AI With CIO Brian Woodring

Rocket is embracing artificial intelligence and leaders there say it will be a game changer in the lending industry. Varun Krishna, CEO of Rocket Companies, emphasized their focus on AI in a statement accompanying the third quarter’s financial results. “In today’s climate, innovation is essential. With the incredible amount of data in our ecosystem, paired with the transformative power of AI, Rocket is uniquely positioned to disrupt the industry. We’re just getting started and can’t wait to show you what we are building to revolutionize homeownership,” Krishna said. Last month, continued advancements to the company’s Pathfinder tool were announced. Pathfinder is an AI and machine learning-powered search engine used by more than 40,000 housing professionals, according to a press release.…