Jay Farner Quicken Loans Hw

Rocket Companies’ plan to transcend mortgage


Rocket Companies CEO Jay Farner

Rocket Companies is not content with merely being America’s largest lender. Its ambitions are far outsized, even for a firm with a reputation for taking moonshots.

In its quarterly earnings call on Thursday, CEO Jay Farner and CFO Julie Booth described a sophisticated company that has developed a product solution for every piece of the home-buying and home-selling ecosystem. Mortgage, title, appraisal, servicing, iBuying, real estate brokerage, green energy — the gamut.

In their idealized vision, a consumer would first find the perfect home through Rocket’s listings site. They’d then utilize the services of a real estate agent found through the growing Rocket Homes platform. A few hours after applying for a mortgage, the consumer would receive underwriting approval. Then comes the mortgage — which their agent would monitor through Rocket Pro Insight. When at the finish line, the client would close with the aid of Amrock, Rocket’s title and appraisal arm. A few years later, they might list the home for sale without an agent with the help of Rocket or refinance their mortgage and place solar panels on their roof.

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