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2024-05-03 13:21:39

Rocket Mortgage

American mortgage lender headquartered in Detroit, Michigan
American mortgage lender headquartered in Detroit, Michigan
Rocket Mortgage, LLC, formerly Quicken Loans, LLC, is a major American mortgage lender based in Detroit. It became the largest retail lender in the U.S. in 2018 and operates primarily online.
1985-06
Founding of Rock Financial
In June 1985, Dan Gilbert founded Rock Financial, which later became known as Rocket Mortgage. Initially established as a mortgage broker, the company eventually evolved into one of the largest mortgage lenders in America.
1987
Name Change to Rock Financial Corp
In 1987, Rock Financial Mortgage changed its name to Rock Financial Corp.
1988
Rock Financial Becomes Mortgage Lender
In 1988, Rock Financial transitioned into a mortgage lender, leading to the establishment of Rocket Mortgage as one of the prominent mortgage lenders in the United States.
1993
Rocket Mortgage Achieves $1 Billion in Annual Closed Loan Volume
In 1993, Rocket Mortgage reached a significant milestone by achieving $1 billion in annual closed loan volume, showcasing its growth and success in the mortgage lending industry.
1996
Release of Mortgage in a Box
In 1996, Rocket Mortgage introduced Mortgage in a Box, a pioneering mortgage application that simplified the lending process. This innovative approach laid the foundation for the centralized online lending model used by Rocket Mortgage today.
1998-05
Dan Gilbert takes Rock Financial public
In May 1998, Dan Gilbert took Rock Financial public through an IPO underwritten by Bear Stearns.
1999-12
Intuit Inc. purchases Rock Financial Corp. and renames it Quicken Loans
In December 1999, Intuit Inc. purchased Rock Financial Corp. for $532M and renamed it Quicken Loans.
2002-06
Dan Gilbert repurchases Quicken Loans from Intuit
In June 2002, Dan Gilbert led a group of private investors in repurchasing the Quicken Loans subsidiary from Intuit for $64M.
2004-08
Launch of QuickenLoans.com
In August 2004, Quicken Loans launched QuickenLoans.com, which became the leading mortgage website. The site offered consumers tools to explore home loan options, calculate payments, and apply for mortgages online.
2010-05
Foundation of Rocket Pro TPO
In May 2010, Rocket Pro TPO, originally known as Quicken Loans Mortgage Services (QLMS), was established to cater to the needs of mortgage brokers, community banks, and credit unions. It has become one of the major lending partners for mortgage brokers, providing technology and resources for business growth.
2010-08
Relocation of Quicken Loans Headquarters to Detroit
In August 2010, Quicken Loans moved its headquarters to downtown Detroit, initiating a period of significant investment in the city. Currently, Rocket Companies stands as the largest employer in Detroit.
2011-06
Launch of My QL Mobile App by Quicken Loans
In June 2011, Quicken Loans introduced the 'My QL Mobile' app, the first mobile application by a mortgage lender. The app allowed users to receive real-time updates on their loan status, access a list of required documents, and connect with a home loan expert instantly.
2012
Expansion into Mortgage Servicing Business by Quicken Loans
By the end of 2012, Quicken Loans made a significant move into the mortgage servicing sector, revealing an $80 billion servicing portfolio. This marked the company's entrance into a new aspect of the mortgage industry.
2014-01-09
Rocket Mortgage Launch in the United States
On January 9, 2014, Rocket Mortgage was launched in the United States, revolutionizing the mortgage industry with its innovative online platform.
2015
Launch of Rocket Mortgage
Rocket Mortgage was introduced in 2015 as the world's first fully online mortgage process, revolutionizing the mortgage industry. Today, the majority of home loans originated by the company utilize this innovative technology.
2016-02
Debut of Rocket Mortgage Super Bowl Commercial
In February 2016, Rocket Companies debuted its first Super Bowl commercial, introducing Rocket Mortgage to the world.
2017-10
Partnership for Tax Foreclosure Education in Detroit
In October 2017, Quicken Loans partnered with organizations to address tax foreclosure in Detroit through an extensive education effort.
2018-01
Rocket Mortgage becomes largest retail lender in the U.S.
In January 2018, Rocket Mortgage, formerly Quicken Loans, became the largest overall retail lender in the U.S. and the largest online retail mortgage lender.
2018-02
Title Source Inc rebranded to Amrock
In February 2018, Title Source Inc changed its name to Amrock to better represent its range of technology-driven services.
2019
Renaming of Quicken Loans Arena to Rocket Mortgage FieldHouse
In 2019, the Quicken Loans Arena in Cleveland, Ohio, was renamed to Rocket Mortgage FieldHouse after undergoing renovation and expansion. The arena is home to the Cleveland Cavaliers and the Cleveland Monsters.
2020-03
Edison Financial (Rocket Mortgage Canada) Working with Clients
Digital Canadian mortgage broker Edison Financial, now known as Rocket Mortgage Canada, started working with clients and is licensed in every province, helping clients coast to coast.
2020-08
Rocket Companies Debut on New York Stock Exchange
Rocket Companies, parent to Rocket Mortgage and other FinTech brands, celebrated its debut on the New York Stock Exchange as a publicly traded entity, trading under the ticker symbol RKT.
2020-09
Quicken Loans Mortgage Services Rebranded to Rocket Pro TPO
Quicken Loans Mortgage Services (QLMS) changed to Rocket Pro TPO, bringing the most recognizable brand in mortgage origination to the mortgage broker community.
2020-10
Filing of Patent for Extracting Data Sets
In October 2020, Rocket Mortgage filed a patent related to extracting data sets from external data stores, further solidifying their position as a leader in technological advancements within the mortgage sector.
2021-07-31
Rebranding to Rocket Mortgage
On May 12, 2021, Quicken Loans announced that it would be rebranded to Rocket Mortgage by July 31, 2021, marking a significant shift in the company's branding strategy.
2022-02
Rocket Mortgage Super Bowl Squares Sweepstakes
Rocket Mortgage became the Official Mortgage Sponsor of the NFL and introduced the Rocket Mortgage Super Bowl Squares Sweepstakes, the largest official game of Super Bowl squares in history.
2022-07
Rocket Mortgage Enters Canada
Rocket Mortgage expanded into Canada by rebranding Edison Financial as Rocket Mortgage Canada, broadening its international presence.
2022-09
United Wholesale Mortgage Company becomes largest overall lender
In the third quarter of 2022, United Wholesale Mortgage Company took over the title of largest overall lender from Rocket Mortgage.
2023-05
Launch of Rocket Mortgage ONE+ program
Rocket Mortgage introduced the ONE+ program in May 2023, allowing homebuyers to make a down payment of just 1% while covering the remaining 2%. This initiative aims to enhance homeownership accessibility for over 90 million Americans by eliminating costly mortgage insurance fees and providing affordable options.
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Rocket Mortgage

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Rocket Mortgage

American mortgage lender headquartered in Detroit, Michigan
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