Key facts
- Rocket Pro is permanently increasing its wholesale pricing by 60 basis points for agency, FHA, and VA loans.
- The company launched the 'Moving Squad' initiative to assist brokers in transitioning to Rocket Pro.
- The 'Moving Squad' aims to streamline the onboarding process for brokers within 10 days.
- Rocket Pro offers a $10,000 referral bonus for brokers who bring new partners to the company.
- A 40-basis point Compass credit partnership has been extended for another month.
Rocket Pro is permanently increasing its wholesale pricing by 60 basis points for agency, conventional, FHA, and VA loans, a move designed to offer brokers pricing certainty. This adjustment is part of the company's ongoing 'Power Play' initiative.
At the Rocket Pro Experience (RPX) event, the company also unveiled its 'Moving Squad' initiative. This program is designed to help mortgage brokers transition their businesses to Rocket Pro from competing wholesale lenders, particularly those impacted by United Wholesale Mortgage's (UWM) 'All-In Initiative.' The 'Moving Squad' aims to facilitate this transition within 10 days or less, providing end-to-end support through onboarding and the submission of a broker's first loan.
Rocket executives stated that the 'Moving Squad' addresses barriers brokers face, such as perceived difficulty or disruption in moving their business. Austin Niemiec, Chief Revenue Officer of Rocket Mortgage, expressed that the company has seen a significant increase in brokers moving away from UWM's ultimatum policy in recent months.
Additionally, Rocket Pro announced a referral incentive program, offering a $10,000 cash bonus to brokers who refer another broker that completes their first loan with Rocket Pro. This offer is valid through December 31, 2026. The company also confirmed the extension of its 40-basis point Compass credit partnership for another month.