The deal, expected to close by the end of 2025, will place Mr. Cooper CEO Jay Bray as president and CEO of Rocket Mortgage.

Here's what mortgage professionals should know about Rocket's rebranding, its $1.75B play for Redfin, dropped CFPB lawsuit and more.

The mortgage lender claims its Georgetown, Texas operations, where Thrive Mortgage was previously headquartered, have been "gutted."

The Mississippi lender said regulators have signed off sooner than expected on its $103.6 million acquisition of First Chatham Bank. The bank's CEO and deal advisers said the speedy approval bodes well for future M&A.

The institution has been downsizing its portfolio to address deposit runoff as it has shed fintech exposures and worked to gain release from a consent order.

Stakeholders predict the future of homebuying will offer two distinct paths: an all-in-one bundle from companies like Rocket Mortgage and the traditional, local homebuying experience.

Large mortgage companies are targeting mergers and acquisitions as well as home equity lending in their 2025 business plans, Boston Consulting Group said.

Rocket said the Redfin deal is part of a purchase mortgage strategy, but originating and retaining residential mortgages in portfolio is the real endgame writes the chairman of Whalen Global Advisors.

The builder's lending unit bought servicing and secondary market approvals that weren't part of Guild's previous acquisition of CCM's production and branding.

Rocket expects the combined company to achieve more than $200 million in run-rate synergies by 2027, it said in a statement.