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…
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…
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…
By KIMBERLEY HAAS Leaders at Rocket Pro TPO rolled out a new promotion on Monday to help homeowners tap their equity without affecting their current mortgage rates. The company is waiving its $795 origination fee on home equity loans until Aug. 18. If a homeowner uses Rocket Pro TPO’s new automated valuation model, they can…
By KIMBERLEY HAAS Artificial intelligence is revolutionizing every aspect of the mortgage industry and as companies create systems that can help from origination to servicing, leaders speak highly of the possibilities ahead when it comes to accuracy, efficiency, and enhanced customer service. Listen to our podcast on the subject: At the beginning of the year,…
By KIMBERLEY HAAS A total of 1,250 team members at Rocket Companies dove headfirst into the topic of leveraging generative AI during their most recent HackWeek. More than 250 experiments were tackled as these team members explored how technology can streamline the homeownership journey. They ranged from finding solutions for when buyers first start browsing…
By KIMBERLEY HAAS The CEO of Rapid Home Loans says to succeed in the current landscape, mortgage professionals need to know how to make the most of every opportunity. Abe Miri cofounded the company, located in Dearborn, Michigan, with Alex Abazid in March of 2022. Licensed in 24 states, they use a call center style…
Having a team of motivated mortgage professionals has helped Agave Home Loans grow since it was founded at the beginning of 2020. Co-owners Marshall Gottlieb and Douglas Wang conducted business that year from two bedrooms at Wang’s house during a time when the Covid pandemic disrupted the traditional work from an office model. They had…
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…
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