Quicken Loans Mortgage Services rebrands as Rocket Pro TPO
Within the next 60 days, Quicken Loans Mortgage Services will become Rocket Pro TPO, which stands for third party origination. QLMS was already under the Rocket Cos. umbrella but the new name brings with it uniformity in a host of other areas.
As part of the rebrand, Rocket Pro TPO will feature the entire Rocket suite of technology and marketing tools, along with its referral network. Mortgage brokers, banks and credit unions partnering with Rocket Pro will be able to leverage these tools as well. Previous to this week’s announcement, QLMS shared some of Rocket's products but had a different portal and application system.
"We asked brokers what they need," Austin Niemiec, executive vice president of QLMS and lead of soon-to-be Rocket Pro TPO, said in an interview. "Of course, price, process and product are important but how do you help me generate more leads? How do you give me technology to help me keep up with the speed of the game? So that's what it's all about."
To kick off the rebranding, Rocket Pro will generate 10,000 fresh purchase leads over the coming weeks, Niemiec said. Those leads will be matched to its broker partners on the local level using Rocket Brand Connect, "a big upgrade" and much different than anything QLMS did in the past, he added.
"This isn’t just an event for flipping our logo and name and giving you a piece of technology and leads," Niemiec said. "This is just the beginning. This is our commitment to the broker community that we'll be delivering in the coming weeks, months, years and decades on our promise. This is the start of us raising the bar for the future."
This news comes shortly after another major company shakeup when Rocket Cos. launched its initial public offering on Aug. 6.
"It was inspired for sure by us going public," Niemiec said. "That was a big moment for our company. We now have a lot more resources and capital to double down on the platform we're building. By aligning with that brand, it's really a commitment and allowing our partners to lean on it."