Office address: 1050 Woodward Ave, Detroit, MI 48226
Website: www.rocketmortgage.com
Year established: 1985
Company type: financial services
Employees: 26,000+
Expertise: financial technology, mortgage loans, 15-year and 30-year fixed rate mortgages, FHA loans, VA loans, arm loans, jumbo loans
Parent company: Rocket Companies, Inc.
CEO and key people: Varun Krishna (CEO), LaQuanda Sain (EVP), Austin Niemiec (CRO), Brian Woodring (CIO), Casey Hurbis (CMO), Bill Banfield (CRO)
Financing status: formerly PE-backed
Rocket Mortgage is a mortgage lending company that provides home loan services and a variety of digital products. The company has a market capitalization of around $25.97 billion. It has been facilitating over $1.7 trillion in home loans since 1985. The lending company services 2.5 million families’ mortgages monthly.
Rocket Mortgage, initially known as Rock Financial, was founded in 1985 by Dan Gilbert. Over the years it has expanded from a traditional mortgage company to a fintech leader. The introduction of “Mortgage In A Box” in 1996 introduced a more simplified mortgage process.
In 1999, Rocket Mortgage transitioned into an online platform, RockLoans.com, and rebranded to Quicken Loans. It became the world’s first completely online mortgage process in 2015 and the largest residential mortgage lender in the United States in 2017.
Rocket Mortgage’s products and services are designed to help quicken and simplify the financial processes of its customers. Such offerings include:
Rocket Mortgage has a set of foundational philosophies, or "ISMs," which guide the organization's actions, promoting a positive, proactive, and inclusive workplace. The company also offers an array of employee benefits, such as:
Rocket Mortgage promotes an inclusive environment that extends its diversity, equity, and inclusion (DEI) principles into its operations. Central to these efforts include:
Varun Kirshna is the CEO of Rocket Companies and Rocket Mortgage and has over 2 decades of experience in product development, technology, and leadership. Krishna has previously held high positions in companies such as Intuit, PayPal, Groupon, and Microsoft. He obtained his computer engineering bachelor’s degree from the University of Waterloo in Canada.
Alongside Varun Krishna are some of the key leaders at Rocket Companies:
Rocket Mortgage aims to explore new ventures like the solar power sector to expand its operations and capitalize on the growth of the solar market. Its parent company has also initiated the Rocket Rewards scheme to boost client involvement and financial benefits.
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