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…
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…
Rocket Mortgage rolled out a new temporary buydown option covering the cost of a lower interest rate for two years. “Welcome Home RateBreak” is a lender-paid 2-1 buydown program where borrowers get a two-point reduction for the first year and one point for the second year before returning to the note rate in the third…
Inuit exec Glenn McGillivray joined Rocket Companies as its new chief people and places officer. McGillivray’s role will be to lead the human resources and diversity, equity, and inclusion teams, employee training and development, and executive leadership development. This is a newly created position. McGillivray previously held multiple leadership roles at Intuit, where he worked…
By KIMBERLEY HAAS Leaders at Rocket Companies have announced their Q2 2024 results and the company’s CEO says they continue to grow while making 30-year bets on people who are making 30-year bets on themselves. “We consider ourselves the most optimistic company in America. Every day, Rocket makes 30-year bets on people who make 30-year…
By ERIN FLYNN JAY The author of a new book says commercial real estate owners need to be forward-thinking if they are going to remain relevant. Joe Brady is the former head of real estate for Walgreens and served as CEO of Americas at The Instant Group, a global leader in agile and flexible workspace, development,…
Leaders at Rocket Companies are speaking out after being charged with discrimination by the U.S. Department of Housing and Urban Development. According to officials at HUD, a Black homeowner in Denver who was refinancing her property alleges that appraiser Maksym Mykhailyna with Maverick Appraisal Group and the appraisal management company Solidifi undervalued her property due…
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