Rocket Companies (RKT)
Connects home search, mortgages, closing, and servicing through a digital homeownership platform.
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Rocket makes home loans over the phone and the web, then keeps collecting the monthly payments on them for years. Last year it bought Redfin, where people shop for houses, and Mr. Cooper, one of the country's big payment collectors, so it now touches the search, the sale, the paperwork and the loan. Lending still pays the bills; owning every step of the move is the bet.
Item facts: Q2 2026 · quarter ended June 30, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
8 in detail · 10 more below
Rocket Mortgage — direct to consumer
The website-and-call-centre lender that is still the engine: $28.1B of loans closed last quarter, earning 4.13% on each one sold — six times what loans from outside brokers earn. Watch whether home buyers, not just refinancers, keep showing up.
Competes with Wholesale origination (UWM Holdings) · Consumer Direct Lending (PennyMac Financial) · Retail lending (CrossCountry Mortgage)
In plain English
Think of a mortgage as something Rocket builds and then sells. Someone applies at rocketmortgage.com or over the phone, Rocket borrows short-term money to fund the loan, closes it, and within weeks sells the loan on — roughly eight and a half of every ten it sells go to Fannie Mae, Freddie Mac and Ginnie Mae, the government-backed buyers.
Rocket's profit is the gap between what the loan cost to make and what those buyers pay, plus the right to keep collecting the borrower's monthly payments. With no broker or bank standing in the middle, it keeps the whole margin — and the customer.
Rocket Pro
Loans that arrive through outside brokers, banks and credit unions. The broker keeps the customer, so Rocket earns only a sliver on the sale; the real prize is the monthly payments it collects on those loans afterwards.
Competes with Wholesale broker channel (UWM Holdings) · Broker Direct (PennyMac Financial) · Third-party desks (CrossCountry Mortgage)
In plain English
Not everyone shops for a mortgage alone. Plenty of people walk into a local broker or credit union and let that adviser hunt for the loan on their behalf. Rocket Pro is the counter those advisers step up to: Rocket's money, pricing and paperwork, with the broker keeping the client.
Because the broker owns that relationship, Rocket earns roughly a sixth of the margin per loan that it makes selling direct. It does the business anyway for the volume, and because each loan joins the pile it collects payments on for years. The friction is obvious — brokers dislike lenders that later come courting their borrowers.
Correspondent channel
Rocket buys loans other lenders already closed — $10.0B last quarter, about a fifth of every loan it takes on, at almost no profit on the purchase itself. It is a way of buying future monthly payments in bulk.
Competes with Correspondent production (PennyMac Financial) · Correspondent lending (Freedom Mortgage)
In plain English
A loan somebody else already made still needs an owner. Small and mid-sized lenders close mortgages and want their cash back fast, so they sell the finished loans on to a bigger buyer. Rocket is one of those buyers.
The purchase itself barely pays — a fraction of a penny on the dollar. What Rocket is really buying is the household behind the loan: the monthly payments it can now collect, and the chance to be the one who refinances that mortgage later. Rocket barely ran this channel until Mr. Cooper, the payment-collecting business it bought last year, brought it along.
Servicing portfolio
Collecting the monthly payment on $2.0 trillion of mortgages — 9.1 million households — at about a quarter of a cent per dollar a year. It pays whether or not homes are selling, and regulators have capped how much bigger this pile can get.
Competes with Servicing and subservicing (PennyMac Financial) · Loan servicing book (Lakeview Loan Servicing) · Mortgage Technology servicing platform (ICE)
In plain English
Whoever lends you the money is often not who you send it to. Somebody has to take the payment each month, hold back the tax and insurance portion and chase the late ones — that job gets bought and sold between companies, and Rocket now holds more of it than anyone.
It earns about a quarter of a cent a year on every dollar still owed. Two things make that better than dull rent: the money arrives whether or not houses are selling, and those nine million households are the cheapest list Rocket has for finding its next borrower — more than half of last quarter's refinancing came from people it was already collecting from. When rates fall, the pile is worth less on paper even as refinancing picks up.
Redfin
The home-search site and brokerage Rocket bought for $1.75B in 2025 — roughly 50 million visitors a month and about 2,000 agents. It earns commissions and ad fees, but its main job now is handing buyers to Rocket's lending side.
Competes with Zillow home-search portal (Zillow Group) · Compass brokerage (Compass International Holdings) · Homes.com (CoStar Group)
In plain English
Before anyone borrows for a house, they spend a long time looking at houses — and Redfin is one of the places they look. It is a home-search site with its own agents, so it can show you the listings and then represent you when you buy.
It earns the ordinary way: a cut of the sale price when a deal closes, plus fees from landlords advertising rentals. What Rocket paid for, though, is the timing. The person browsing kitchens today is the one who needs a mortgage in a few months, and Rocket now finances nearly half of Redfin's buyers, against a target of one in two.
Rocket Close
Title checks, home valuations and the closing paperwork, on Rocket's own loans and other lenders' — a fee per deal, earned only when a sale actually completes. Small, but it is what lets Rocket run the whole transaction itself.
Competes with First American Title (First American Financial) · Fidelity National Title (Fidelity National Financial) · Mortgage Technology closing services (ICE)
In plain English
Buying a house drags a stack of unglamorous chores behind it: proving nobody else has a claim on the property, insuring against the chance that someone does, getting the place valued, and sitting everyone down to sign. Rocket Close does those chores, mostly on Rocket's own loans, and also for rival lenders.
It bills per file, so it earns when deals close and nothing when they stall. The quieter payoff is control: because Rocket already owns the search, the loan and the paperwork, it can afford to hand a customer as much as twenty thousand dollars off for using all of them together.
Compass alliance
A three-year swap struck in 2026 with Compass, the largest US brokerage by agent count: it puts early listings other search sites don't carry onto Redfin, and Rocket sends more than a million buyer enquiries back. It is a contract, not ownership — it can lapse.
Competes with Premier Agent referrals (Zillow Group) · Agent referral network (eXp) · Agent referral network (Anywhere)
In plain English
Compass is the largest US brokerage by number of agents, and its agents often prepare a seller's home before it is publicly listed. Those quiet "coming soon" homes usually never reach the big search sites, which matters when houses for sale are scarce.
The deal is a swap. Compass shows those early listings on Redfin, giving Redfin homes nobody else is showing. In return Rocket points more than a million buyer enquiries over three years at Compass agents, and offers Compass buyers a cheaper first year on their mortgage. The currency here is customers, not cash — and after three years it has to be re-signed.
Rocket Money
A phone app that watches your bank account, cancels subscriptions you forgot about and haggles down bills, for a monthly fee. Small money — but besides the servicing book it is the one part of Rocket that bills the same person every month.
Competes with Credit Karma (Intuit) · Monarch Money (Monarch)
In plain English
Everybody has a gym membership they stopped using and a phone bill nobody has argued down in years. Rocket Money is an app that plugs into your bank account, spots those, and cancels or renegotiates them for you, with a budget that sorts your spending into piles.
Members pay a monthly fee, and a newer tier adds an assistant called Rowan — built with Anthropic, an AI company — for about fifteen dollars a month. Next to mortgages the money is small change, but it is paid directly by the household, in a fixed amount, every month, which is unusual in a business that mostly depends on whether anyone is moving house.
Rocket Mortgage — direct to consumerThe website-and-call-centre lender that is still the engine: $28.1B of loans closed last quarter, earning 4.13% on each one sold — six times what loans from outside brokers earn. Watch whether home buyers, not just refinancers, keep showing up.The website-and-call-centre lender that is still the engine: $28.1B of loans closed last quarter, earning 4.13% on each one sold — six times what loans from outside brokers earn. Watch whether home buyers, not just refinancers, keep showing up.
In plain English
Think of a mortgage as something Rocket builds and then sells. Someone applies at rocketmortgage.com or over the phone, Rocket borrows short-term money to fund the loan, closes it, and within weeks sells the loan on — roughly eight and a half of every ten it sells go to Fannie Mae, Freddie Mac and Ginnie Mae, the government-backed buyers.
Rocket's profit is the gap between what the loan cost to make and what those buyers pay, plus the right to keep collecting the borrower's monthly payments. With no broker or bank standing in the middle, it keeps the whole margin — and the customer.
Competes with Wholesale origination (UWM Holdings) · Consumer Direct Lending (PennyMac Financial) · Retail lending (CrossCountry Mortgage)
Rocket ProLoans that arrive through outside brokers, banks and credit unions. The broker keeps the customer, so Rocket earns only a sliver on the sale; the real prize is the monthly payments it collects on those loans afterwards.Loans that arrive through outside brokers, banks and credit unions. The broker keeps the customer, so Rocket earns only a sliver on the sale; the real prize is the monthly payments it collects on those loans afterwards.
In plain English
Not everyone shops for a mortgage alone. Plenty of people walk into a local broker or credit union and let that adviser hunt for the loan on their behalf. Rocket Pro is the counter those advisers step up to: Rocket's money, pricing and paperwork, with the broker keeping the client.
Because the broker owns that relationship, Rocket earns roughly a sixth of the margin per loan that it makes selling direct. It does the business anyway for the volume, and because each loan joins the pile it collects payments on for years. The friction is obvious — brokers dislike lenders that later come courting their borrowers.
Competes with Wholesale broker channel (UWM Holdings) · Broker Direct (PennyMac Financial) · Third-party desks (CrossCountry Mortgage)
Correspondent channelRocket buys loans other lenders already closed — $10.0B last quarter, about a fifth of every loan it takes on, at almost no profit on the purchase itself. It is a way of buying future monthly payments in bulk.Rocket buys loans other lenders already closed — $10.0B last quarter, about a fifth of every loan it takes on, at almost no profit on the purchase itself. It is a way of buying future monthly payments in bulk.
In plain English
A loan somebody else already made still needs an owner. Small and mid-sized lenders close mortgages and want their cash back fast, so they sell the finished loans on to a bigger buyer. Rocket is one of those buyers.
The purchase itself barely pays — a fraction of a penny on the dollar. What Rocket is really buying is the household behind the loan: the monthly payments it can now collect, and the chance to be the one who refinances that mortgage later. Rocket barely ran this channel until Mr. Cooper, the payment-collecting business it bought last year, brought it along.
Competes with Correspondent production (PennyMac Financial) · Correspondent lending (Freedom Mortgage)
Servicing portfolioCollecting the monthly payment on $2.0 trillion of mortgages — 9.1 million households — at about a quarter of a cent per dollar a year. It pays whether or not homes are selling, and regulators have capped how much bigger this pile can get.Collecting the monthly payment on $2.0 trillion of mortgages — 9.1 million households — at about a quarter of a cent per dollar a year. It pays whether or not homes are selling, and regulators have capped how much bigger this pile can get.
In plain English
Whoever lends you the money is often not who you send it to. Somebody has to take the payment each month, hold back the tax and insurance portion and chase the late ones — that job gets bought and sold between companies, and Rocket now holds more of it than anyone.
It earns about a quarter of a cent a year on every dollar still owed. Two things make that better than dull rent: the money arrives whether or not houses are selling, and those nine million households are the cheapest list Rocket has for finding its next borrower — more than half of last quarter's refinancing came from people it was already collecting from. When rates fall, the pile is worth less on paper even as refinancing picks up.
Competes with Servicing and subservicing (PennyMac Financial) · Loan servicing book (Lakeview Loan Servicing) · Mortgage Technology servicing platform (ICE)
RedfinThe home-search site and brokerage Rocket bought for $1.75B in 2025 — roughly 50 million visitors a month and about 2,000 agents. It earns commissions and ad fees, but its main job now is handing buyers to Rocket's lending side.The home-search site and brokerage Rocket bought for $1.75B in 2025 — roughly 50 million visitors a month and about 2,000 agents. It earns commissions and ad fees, but its main job now is handing buyers to Rocket's lending side.
In plain English
Before anyone borrows for a house, they spend a long time looking at houses — and Redfin is one of the places they look. It is a home-search site with its own agents, so it can show you the listings and then represent you when you buy.
It earns the ordinary way: a cut of the sale price when a deal closes, plus fees from landlords advertising rentals. What Rocket paid for, though, is the timing. The person browsing kitchens today is the one who needs a mortgage in a few months, and Rocket now finances nearly half of Redfin's buyers, against a target of one in two.
Competes with Zillow home-search portal (Zillow Group) · Compass brokerage (Compass International Holdings) · Homes.com (CoStar Group)
Rocket CloseTitle checks, home valuations and the closing paperwork, on Rocket's own loans and other lenders' — a fee per deal, earned only when a sale actually completes. Small, but it is what lets Rocket run the whole transaction itself.Title checks, home valuations and the closing paperwork, on Rocket's own loans and other lenders' — a fee per deal, earned only when a sale actually completes. Small, but it is what lets Rocket run the whole transaction itself.
In plain English
Buying a house drags a stack of unglamorous chores behind it: proving nobody else has a claim on the property, insuring against the chance that someone does, getting the place valued, and sitting everyone down to sign. Rocket Close does those chores, mostly on Rocket's own loans, and also for rival lenders.
It bills per file, so it earns when deals close and nothing when they stall. The quieter payoff is control: because Rocket already owns the search, the loan and the paperwork, it can afford to hand a customer as much as twenty thousand dollars off for using all of them together.
Competes with First American Title (First American Financial) · Fidelity National Title (Fidelity National Financial) · Mortgage Technology closing services (ICE)
Compass allianceA three-year swap struck in 2026 with Compass, the largest US brokerage by agent count: it puts early listings other search sites don't carry onto Redfin, and Rocket sends more than a million buyer enquiries back. It is a contract, not ownership — it can lapse.A three-year swap struck in 2026 with Compass, the largest US brokerage by agent count: it puts early listings other search sites don't carry onto Redfin, and Rocket sends more than a million buyer enquiries back. It is a contract, not ownership — it can lapse.
In plain English
Compass is the largest US brokerage by number of agents, and its agents often prepare a seller's home before it is publicly listed. Those quiet "coming soon" homes usually never reach the big search sites, which matters when houses for sale are scarce.
The deal is a swap. Compass shows those early listings on Redfin, giving Redfin homes nobody else is showing. In return Rocket points more than a million buyer enquiries over three years at Compass agents, and offers Compass buyers a cheaper first year on their mortgage. The currency here is customers, not cash — and after three years it has to be re-signed.
Competes with Premier Agent referrals (Zillow Group) · Agent referral network (eXp) · Agent referral network (Anywhere)
Rocket MoneyA phone app that watches your bank account, cancels subscriptions you forgot about and haggles down bills, for a monthly fee. Small money — but besides the servicing book it is the one part of Rocket that bills the same person every month.A phone app that watches your bank account, cancels subscriptions you forgot about and haggles down bills, for a monthly fee. Small money — but besides the servicing book it is the one part of Rocket that bills the same person every month.
In plain English
Everybody has a gym membership they stopped using and a phone bill nobody has argued down in years. Rocket Money is an app that plugs into your bank account, spots those, and cancels or renegotiates them for you, with a budget that sorts your spending into piles.
Members pay a monthly fee, and a newer tier adds an assistant called Rowan — built with Anthropic, an AI company — for about fifteen dollars a month. Next to mortgages the money is small change, but it is paid directly by the household, in a fixed amount, every month, which is unusual in a business that mostly depends on whether anyone is moving house.
Competes with Credit Karma (Intuit) · Monarch Money (Monarch)
Named in filings, launches and programs
- Mr. CooperBrandThe $14.2B servicing company bought in October 2025 — it brought the payment-collection book, the correspondent channel, Rushmore and Xome with it.
- Rocket LoansProductPersonal loans with no house attached; volume nearly doubled in the first half of 2026, with over half going to people Rocket already deals with.
- Rocket Preferred PricingCustomer programThe bundle discount: search with Redfin, borrow from Rocket and keep paying Rocket, and get back as much as $20,000. Launched 2025, widened in 2026.
- RowanProduct · RampingAn AI assistant inside Rocket Money's new premium tier, launched August 2026 and built with Anthropic; roughly fifteen dollars a month.
- Redfin RentalsService · RampingAdvertising sold to apartment landlords; an August 2026 settlement with regulators kept the Zillow listing partnership and cleared a standalone rentals business.
- Annaly subservicing agreementCustomer programRocket collects the payments on part of investment manager Annaly Capital Management's mortgage holdings for a fee — announced October 2024.
- Rushmore ServicingBrandThe brand used for troubled and defaulted loans, picked up with Mr. Cooper.
- XomeBrandProperty auction and exchange brand that came with Mr. Cooper; nothing about its size has been disclosed since the deal closed.
- Rocket HomesPlatformRocket's own home-search brand, still named among the companies but doing much the same job as Redfin.
- Rocket LogicProduct · AnnouncedAn AI system for processing loan applications, talked up on two calls in 2024 and early 2025 and not mentioned on any of the six since.
Mr. CooperBrand
The $14.2B servicing company bought in October 2025 — it brought the payment-collection book, the correspondent channel, Rushmore and Xome with it.
Rocket LoansProduct
Personal loans with no house attached; volume nearly doubled in the first half of 2026, with over half going to people Rocket already deals with.
Rocket Preferred PricingCustomer program
The bundle discount: search with Redfin, borrow from Rocket and keep paying Rocket, and get back as much as $20,000. Launched 2025, widened in 2026.
RowanProduct · Ramping
An AI assistant inside Rocket Money's new premium tier, launched August 2026 and built with Anthropic; roughly fifteen dollars a month.
Redfin RentalsService · Ramping
Advertising sold to apartment landlords; an August 2026 settlement with regulators kept the Zillow listing partnership and cleared a standalone rentals business.
Annaly subservicing agreementCustomer program
Rocket collects the payments on part of investment manager Annaly Capital Management's mortgage holdings for a fee — announced October 2024.
Rushmore ServicingBrand
The brand used for troubled and defaulted loans, picked up with Mr. Cooper.
XomeBrand
Property auction and exchange brand that came with Mr. Cooper; nothing about its size has been disclosed since the deal closed.
Rocket HomesPlatform
Rocket's own home-search brand, still named among the companies but doing much the same job as Redfin.
Rocket LogicProduct · Announced
An AI system for processing loan applications, talked up on two calls in 2024 and early 2025 and not mentioned on any of the six since.