Rocket Companies, Inc. is a Detroit-based fintech platform specializing in mortgage, real estate, and personal finance solutions. Known for its innovative "Rocket" brand, the company delivers simple and trusted digital experiences through its proprietary technology platform. Rocket Companies offers a diverse range of products and services, including mortgage lending, real estate services, and personal finance tools.
- Direct to Consumer - Provides financial products and services directly to clients, including mortgage lending, home equity loans, and personal loans.
- Partner Network - Collaborates with partners to extend its platform and services, focusing on mortgage and real estate solutions.
- Real Estate Services - Offers home search and real estate services through Rocket Homes.
- Personal Finance - Includes personal loans, financial management tools, and credit card services through Rocket Loans and Rocket Money.
- Title and Closing Services - Provides title insurance and closing services through Amrock and Amrock Title Insurance Company.
- Solar Lending - Facilitates solar financing solutions through Rocket Solar.
- International Operations - Operates Rocket Mortgage Canada and Lendesk Technologies to serve international markets.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Bill Emerson ExecutiveBoard | President and Chief Operating Officer | Xenith, Inc.; United Way of Southeast Michigan; Detroit Economic Club; Detroit Sports Organizing Committee; Housing Policy Council; Rocket Giving Fund; The Parade Company; Detroit Children's Fund; Skillman Foundation | Bill Emerson is the President and Chief Operating Officer of Rocket Companies since September 5, 2023. He previously served as Interim CEO from June 1, 2023 to September 4, 2023, and has held other key roles at the company including CEO of Rocket Mortgage from 2002 to 2017. | |
Brian Brown ExecutiveBoard | Chief Financial Officer (CFO) and Treasurer | Board Member of Petram | Brian Brown is the Chief Financial Officer (CFO) and Treasurer of Rocket Companies, Inc. since November 15, 2022. Previously, he served as Chief Accounting Officer from August 2020 to November 2022 and as Senior Vice President of Accounting and Finance from 2014 to 2020. | |
Varun Krishna ExecutiveBoard | Chief Executive Officer | Varun Krishna has served as the CEO of Rocket Companies since September 5, 2023 and is also the CEO of Rocket Mortgage, the nation’s largest retail mortgage company. Prior to his tenure at Rocket Companies, he held senior roles at Intuit and other technology firms, demonstrating strong fintech leadership. | View Report → | |
Heather Lovier Executive | Chief Operating Officer (COO) | Heather Lovier is the Chief Operating Officer (COO) at Rocket Companies, Inc. since June 20, 2024. She has been with the company since 2003 and previously served as Executive Vice President of Client Experience Operations (April 2017 - October 2021) and as Chief Client Experience Officer of Rocket Mortgage (November 2021 - February 2024). | ||
Tina V. John Executive | Executive Legal Counsel and Secretary | Tina V. John serves as the Executive Legal Counsel and Secretary at Rocket Companies, Inc. since April 15, 2024. She previously held the roles of General Counsel and Secretary from October 2022 and Deputy General Counsel and Assistant Secretary from September 2020 to October 2022, building a strong foundation in legal and corporate governance functions. | ||
Alastair (Alex) Rampell Board | Independent Director, Class II | General Partner at Andreessen Horowitz; Director at Wise Ltd. | Alastair (Alex) Rampell serves as an Independent Director, Class II at Rocket Companies since February 1, 2024. He brings extensive expertise in technology, finance, and artificial intelligence, previously serving as a General Partner at Andreessen Horowitz since October 2015 and holding board roles such as Director at Wise Ltd. since 2021. | |
Dan Gilbert Board | Chairman of the Board of Rocket Companies | CEO and President of RHI; Chairman of RHI | Dan Gilbert is the founder of Rocket Mortgage since 1985 and has served as Chairman of the Board at Rocket Companies since March 2020. He previously served as the CEO of Rocket Mortgage from 1985 to 2002. | |
Jennifer Gilbert Board | Director | Director at RHI (since 2019) ; Founder and Creative Director of POPHOUSE (established 2013) ; President of NF Forward ; Chair of Cranbrook Academy of Art Board of Governors ; Board Member of Detroit Institute of Arts ; Founder of Detroit Art Collection | Jennifer Gilbert has been a Director at Rocket Companies since March 2020 and serves on the Nominating and Governance Committee. She brings extensive experience in innovation, design, and entrepreneurship, having also contributed as a director at RHI and through her founding roles in companies such as POPHOUSE. | |
Jonathan Mariner Board | Independent Director | Founder and President of TaxDay, LLC; Board Member at Tyson Foods, Inc.; Board Member at Five9, Inc. | Jonathan Mariner has served as an independent director at Rocket Companies, Inc. since March 2020 where he also chairs the Audit Committee and is a member of the Compensation Committee. He brings extensive experience from his role as Founder and President of TaxDay, LLC since April 2016 and his active board memberships at Tyson Foods, Inc. and Five9, Inc.. | |
Matthew Rizik Board | Member of the Board of Directors | CEO of ROCK; Treasurer, CFO, and Chief Tax Officer of RHI | Matthew Rizik has been a Member of the Board of Directors at Rocket Companies since March 2020. He also holds external roles as Treasurer, CFO, and Chief Tax Officer of RHI and was appointed CEO of ROCK in February 2023. | |
Nancy Tellem Board | Independent Director | Executive Chairperson of Eko (since 2014); Director at TKO Group Holdings, Inc. (since 2023); Board and Advisory roles at League Apps, Basblue, All City Network, Sipur Studios; Board Member at Cranbrook Art Academy and Museum, Detroit Symphony Orchestra, Detroit Riverfront Conservancy | Nancy Tellem is an independent director at Rocket Companies (RKT) since August 2020, serving on the Audit and Compensation Committees. She brings broad expertise from her role as Executive Chairperson of Eko since 2014 and from her board positions at other public companies, including her directorship at TKO Group Holdings, Inc. since 2023. | |
Suzanne Shank Board | Independent Director | President, CEO, and Co-founder of Siebert Williams Shank & Co., LLC; Board Member at CMS Energy and Consumers Energy; Board Member at White Mountains Insurance Group Ltd.; Kresge Foundation; Skillman Foundation; Detroit Regional Chamber (Executive Committee); Global Citizen; Wharton Graduate Board of Trustees; Partnership for New York City; Spelman College Board of Trustees | Suzanne Shank has been an Independent Director at RKT since August 2020, serving on both the Audit and Nominating and Governance Committees. Previously, she has been the President, CEO, and Co-founder of Siebert Williams Shank & Co., LLC since 2019. |
- You mentioned that the acquired MSR pools performed as expected during the recent mini refi wave; can you elaborate on how these pools compared to your organically generated loans in terms of recapture rates, and what risks do you foresee in relying on inorganic MSR acquisitions for future growth?
- With the significant investment in your brand restage, including the Super Bowl ad and the launch of Rocket.com, how are you measuring the ROI on these marketing expenses, and what specific early indicators are you seeing that justify this spend?
- Given the increase in expenses due to higher production costs, marketing initiatives, and the Super Bowl investment, how confident are you in achieving operating leverage in 2025 if market conditions remain challenging, and what steps are you taking to manage costs?
- As 50% of your home equity clients are new to Rocket, how do you plan to retain these clients and convert them into future refinance opportunities, especially if interest rates decline and competition increases?
- Could you provide more details on how your AI investments, like Rocket Logic and Navigator, are leading to tangible financial benefits, and how sustainable are these efficiency gains in the long term?
Research analysts who have asked questions during Rocket Companies earnings calls.
Douglas Harter
UBS
4 questions for RKT
Jeffrey Adelson
Morgan Stanley
4 questions for RKT
Mark DeVries
Deutsche Bank
4 questions for RKT
Ryan Nash
Goldman Sachs & Co.
3 questions for RKT
Bose George
Keefe, Bruyette & Woods
2 questions for RKT
Derek Sommers
Jefferies
2 questions for RKT
Ryan McKeveny
Zelman & Associates
2 questions for RKT
Lucas Haimes
Goldman Sachs
1 question for RKT
Mihir Bhatia
Bank of America
1 question for RKT
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Redfin Corporation | 2025 | Rocket Companies’ all-stock acquisition of Redfin is valued at $1.75 billion (with Redfin shareholders receiving 0.7926 shares of Rocket Class A common stock per Redfin share, equivalent to $12.50 per share, a 63% premium) and has an enterprise value of $2.36 billion. The deal strategically combines Redfin’s 50 million monthly visitors and real estate agent network with Rocket’s mortgage origination and servicing capabilities to create a seamless home-buying experience, expecting over $200M in annual pre-tax synergies by 2027 and includes additional terms such as a special cash dividend and anticipated closing in Q2/Q3 2025. |
Recent press releases and 8-K filings for RKT.
- Rocket Companies announced that Nationstar Mortgage Holdings Inc., a wholly-owned subsidiary of Mr. Cooper, delivered conditional notices of redemption for its 5.000% senior notes due 2026, 6.000% senior notes due 2027, and 5.500% senior notes due 2028, with a redemption date of October 1, 2025, contingent on the consummation of the Mr. Cooper Acquisition.
- The Mr. Cooper Acquisition is anticipated to close in the fourth quarter of 2025.
- Following the acquisition, Rocket Companies plans an internal reorganization where Nationstar's assets and liabilities will be transferred to Rocket Mortgage, LLC, which will then assume the obligations for Nationstar's 6.500% Senior Notes due 2029, 5.125% Senior Notes due 2030, 5.750% Senior Notes due 2031, and 7.125% Senior Notes due 2032.
- Rocket Companies announced that Nationstar Mortgage Holdings Inc., a wholly-owned subsidiary of Mr. Cooper, delivered conditional notices of redemption for its 5.000% senior notes due 2026, 6.000% senior notes due 2027, and 5.500% senior notes due 2028, with a redemption date of October 1, 2025.
- The redemptions are contingent upon the consummation of the Mr. Cooper Acquisition, which is expected to close in the fourth quarter of 2025.
- Following the acquisition, Rocket Companies plans an internal reorganization where Rocket Mortgage, LLC will assume Nationstar's assets, liabilities, and obligations, including its 6.500% Senior Notes due 2029, 5.125% Senior Notes due 2030, 5.750% Senior Notes due 2031, and 7.125% Senior Notes due 2032.
- The housing market is experiencing its slowest summer pace in a decade, primarily because higher buying costs and economic uncertainty are prompting homeowners, especially seniors, to remain in their current homes.
- This trend has created significant opportunities for lenders in the home equity lines of credit (HELOC) market, which has become the fastest-growing consumer loan category after shrinking for 17 years.
- Rocket Companies Inc.'s home equity business has seen a substantial increase, up over 70% from last year, with Mr. Cooper (soon to be acquired by Rocket) also experiencing more than double its activity.
- Seniors own an estimated 60% of US homes, with 76% of them owning their homes without a mortgage, and they now hold 41% of all home equity debt, up from 17% in 2000.
- Home equity loans are considered a less risky form of debt compared to the last crisis, with average loan-to-value ratios at just over 20%, significantly lower than the over 50% seen previously.
- Rocket Companies, Inc. announced the early tender results for Nationstar Mortgage Holdings Inc.'s 5.125% Senior Notes due 2030 and 5.750% Senior Notes due 2031 as of the August 15, 2025 Early Tender Deadline.
- These tender offers and consent solicitations are being conducted in connection with Rocket's pending acquisition of Mr. Cooper.
- Rocket Companies received the Requisite Consents for both series of notes, enabling supplemental indentures to eliminate certain covenants and events of default.
- The tender offers are set to expire on September 2, 2025, but Rocket Companies anticipates extending this date to align with the Mr. Cooper Acquisition's consummation.
Early Tender Results for Nationstar Mortgage Holdings Inc. Notes (as of August 15, 2025)
| Metric | 2030 Notes | 2031 Notes |
|---|---|---|
| Aggregate Principal Amount Outstanding ($USD) | $650,000,000 | $600,000,000 |
| Aggregate Principal Amount Tendered ($USD) | $574,125,000 | $534,765,000 |
| Percent of Outstanding Principal Amount Tendered (%) | 88.33% | 89.13% |
| Tender Offer Consideration (per $1,000 principal amount) ($USD) | $1,012.50 | $1,012.50 |
- Rocket Companies, Inc. is undertaking mergers with Redfin and Mr. Cooper, with pro forma financial information reflecting these transactions as of June 30, 2025.
- To finance these mergers and repay existing debt, Rocket has incurred $4,000 million of new senior unsecured notes due 2030 and 2033, and does not anticipate drawing on a $950 million bridge facility.
- The preliminary estimated merger consideration for Redfin is $1,773,746 thousand, which includes $1,308,137 thousand in goodwill.
- The preliminary estimated merger consideration for Mr. Cooper is $17,102,234 thousand, which includes $6,924,783 thousand in goodwill.
- Rocket Companies reported strong Q2 2025 financial results, with adjusted revenue reaching $1.34 billion and adjusted diluted EPS of $0.04, driven by a 13% year-over-year increase in net rate lock volume to $28 billion.
- The Redfin acquisition closed on July 1, 2025, with integration progressing rapidly and early positive results in lead generation and conversion. The company remains on track to close the Mr. Cooper acquisition in Q4 2025, with integration planning well underway and increasing confidence in synergy realization.
- Operational efficiency initiatives, including the wind-down of Rocket Mortgage Canada and the Rocket Visa Signature Card program, along with G&A team restructuring, are expected to yield approximately $80 million in annualized savings, primarily impacting Q4 2025.
- For Q3 2025, Rocket Companies forecasts adjusted revenue between $1.6 billion and $1.75 billion, inclusive of Redfin, anticipating an extended summer home buying season.
- Rocket Mortgage has been named #1 in client satisfaction by J.D. Power in mortgage servicing for the 11th year, accumulating 23 total J.D. Power wins.
- The company's servicing operations are enhanced by AI tools such as Rocket Logic – Synopsis and an AI-driven chat for clients facing financial hardship.
- Rocket Companies announced a definitive agreement to acquire Mr. Cooper Group Inc., which is expected to expand Rocket Mortgage's servicing portfolio to $2.1 trillion across nearly 10 million clients, representing one in every six mortgages in America.
- This acquisition, combined with the earlier acquisition of Redfin, is part of Rocket's strategy to build an AI-powered, fully integrated ecosystem for the homeownership journey.
- Josh Brown reported a breakout in Rocket Companies (RKT) stock, noting he is long the name.
- Value Act Capital has increased its stake in Rocket Companies to 8.9% of all shares outstanding.
- Over the last two weeks, Value Act Capital purchased 2.9 million shares of RKT at prices ranging from $13.50 to $14.
- The stock has traded through its resistance level of $15.50-$15.75.
- Kate anticipates market volatility into the end of the third quarter, citing positioning, seasonality, and ongoing tariff threats.
- Rocket Companies, Inc. completed the simplification of its organizational and capital structure on June 30, 2025, collapsing its "Up-C" structure, eliminating its high-vote/low-vote structure, and reducing its common stock classes from four to two.
- This simplification is intended to improve the company's ability to use its common stock as acquisition currency and enhance equity liquidity, facilitating the previously announced acquisitions of Redfin Corporation and Mr. Cooper Group Inc..
- Following the simplification, Rocket Companies, Inc. now has two classes of common stock, Class A Common Stock and Class L Common Stock, which generally have the same rights and privileges, including equal voting power per share and proportional dividends.
- Each outstanding share of Class L Common Stock will automatically convert into one share of Class A Common Stock upon transfer (with exceptions) or by the later of June 30, 2027, and a "Triggering Event" where the aggregate voting power of Class D and Class L Common Stock falls below 79% of total voting power.
- On June 20, 2025, Rocket Companies, Inc. closed an offering of $2.0 billion aggregate principal amount of 6.125% senior notes due 2030 and $2.0 billion aggregate principal amount of 6.375% senior notes due 2033, totaling $4.0 billion.
- The 2030 Notes mature on August 1, 2030, with interest payable semi-annually at 6.125% per year, while the 2033 Notes mature on August 1, 2033, with interest payable semi-annually at 6.375% per year, both accruing from June 20, 2025.
- The Company intends to use the proceeds to redeem certain senior notes of Nationstar Mortgage Holdings Inc. (NMH) upon the closing of the Mr. Cooper Acquisition, pay related fees and expenses, and subsequently repay secured debt of the Company and its subsidiaries.
- The Notes are guaranteed by Rocket Mortgage, LLC and its domestic subsidiaries, and will also be guaranteed by Redfin Corporation and Mr. Cooper Group Inc. upon the consummation of their respective acquisitions.
- A special mandatory redemption will occur if the Mr. Cooper Acquisition is not consummated by September 30, 2026.