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Rocket Companies Inc Ordinary Shares Class A RKT Stock Quote

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Morningstar‘s Stock Analysis RKT

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Rocket Remains in a Strong Competitive Position but Higher Rates Will Lead to Lower Earnings in 2022

Michael Miller Equity Analyst

Business Strategy and Outlook

| Michael Miller |

While Rocket Companies offers a variety of products and services, the firm is best known for its Rocket Mortgage segment, which provides Rocket with most of its revenue. The mortgage industry is fractured and highly competitive, but Rocket has distinguished itself by operating as an entirely digitally lender, originating and servicing its mortgages through its mobile app and website. Rocket has made substantial investments in automating the mortgage process and has been an industry leader in increasing loan processing speed and removing pain points for consumers. These investments along with its control over the appraisal and titling process, through its ownership of Amrock, have allowed the firm to offer an industry-leading mortgage experience to borrowers while also enjoying a cost structure advantage over its competitors.

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Company Profile RKT

Business Description

Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company’s mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company’s lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket’s origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.

1050 Woodward Avenue
Detroit, MI, 48226
T +1 313 373-7990
Industry Mortgage Finance
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 26,000