Jay Farner Quicken Loans Hw

Rocket Companies’ plan to transcend mortgage

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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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