Rocket Pro executive Mike Fawaz leaves the megalender

Rocket Pro leader Mike Fawaz, one of the company's most public-facing leaders, has left his position. 

The executive vice president, who's been with Rocket since 2011, made his announcement in a Linkedin post Monday, and his employer confirmed his departure Tuesday. Housingwire first reported the news. His exit comes two weeks after general manager Dan Sogorka left Rocket Pro after 17 months at the wholesale business. 

Courtesy of Rocket Mortgage

"After reflection, I know that to continue showing up in a way that I believe in, I need start a new chapter," wrote Fawaz in a post thanking his colleagues and fellow brokers. 

Chief Revenue Officer Austin Niemiec will continue to lead Rocket Pro, a move the Detroit giant first announced earlier this month after Sogorka's departure. A spokesperson for Rocket did not respond to a question about whether Fawaz's EVP role would be filled. 

"After more than 14 years with Rocket, Mike Fawaz has decided to leave the company," a Rocket Pro spokesperson said. "We're grateful for his contributions to Rocket Pro and wish him continued success."

The company also said it's "never been more committed" to the wholesale arm now under Niemiec's purview. Niemiec earlier this month had mentioned working with Fawaz and fellow Rocket Pro EVPs Cory Scholl and Katie Sweeney to improve the business.

Changing of the guard

Fawaz started working with Rocket as a mortgage banker, and rose to EVP of Rocket Pro in January 2023. He replaced Niemiec who took up former CRO Tim Birkmeier's seat. The broker leader championed building broker partnerships, and was a frequent social media and press presence in promoting the company and its various loan promotions. 

During his time, Fawaz was also entangled in the rivalry with United Wholesale Mortgage, particularly regarding the competitor's All-In mandate. While he described the Rocket neighbor as a "bully" in denying brokers wholesale options, he stopped short of directly criticizing outspoken UWM boss Mat Ishbia. 

Rocket has reshaped its business significantly since tapping fintech veteran Varun Krishna as CEO in 2023. The company's acquisitions of Mr. Cooper and Redfin have bolstered its C-suite, including placing Mr. Cooper leader Jay Bray as president and CEO of Rocket Mortgage. 

Longtime leaders who helped Rocket grow into one of the nation's top lenders in the past few decades have also departed in recent years. That includes Bill Emerson, the former CEO of Rocket Mortgage who left his position last year but remains on the company's board of directors.