Rocket Mortgage

Rocket Companies confirmed it had reduced its workforce following the completion of its Redfin merger. The company also plans to discontinue Rocket Card on Sept. 8.

Mr. Cooper's Q2 profit surged on servicing gains, despite missing estimates, as it preps for Rocket deal and eyes MSR growth with new client wins.

The firm is incentivizing the cross-selling of its services by offering a lower interest rate for one year for borrowers who finance via Rocket Mortgage retail LOs and use a Redfin agent.

The equity-backed loan offers Rocket customers funds for down payments and closing costs on a new purchase while giving them six months to sell their existing property.

Notable changes in executive compensation at public IMBs heavily relied on stock awards received that year.

A group of lawmakers questioned why the FTC and DOJ didn't step in to prevent Rocket Companies' acquisition of Redfin. They want answers by June 17.

A stockholder previously filed a lawsuit seeking to delay the Redfin shareholder vote scheduled for June 4.

The Detroit company intends to pay at least $1.9 billion of the servicer's senior notes due through 2028, and could cover another $3 billion due through 2032.

The tentative mergers, valued at a combined $11 billion, are the next big phase in Rocket's plan to become a "one-stop-shop" mortgage originator.

Rocket Companies and Redfin argue in court filings that a lawsuit seeking to delay their merger is motivated by the plaintiff's personal gain, not concern for investors.