Key facts
- Rocket Pro's new Orbit rewards program is based on partnership performance and production.
- Orbit eligibility requires brokers to maintain at least a three-star rating on a rolling 90-day performance scorecard.
- Benefits include protection from eligible early payoff (EPO) fees and Purchase Priority for same-business-day conditional approvals.
- Padlock Exchange allows brokers to convert rate extension days into basis-point pricing credits.
- Loan Officer Placement helps connect new loan officers with participating broker partners.
- Brokers receive access to over 30,000 partner offers and an Orbit badge.
Rocket Pro has introduced Orbit, a new rewards program for mortgage brokers designed to offer benefits based on partnership performance and production, rather than solely on loan volume. The program, announced as part of Rocket Pro's monthly Power Play initiative, aims to reward brokers for maintaining strong relationships and consistent business.
According to Austin Niemiec, chief revenue officer of Rocket Mortgage, Orbit has been in development for about six months. Eligibility for the program is determined by two factors: production, which scales with brokerage size, and performance, requiring brokers to maintain at least a three-star rating on a rolling 90-day scorecard. This scorecard considers metrics such as pull-through rate and initial underwriting quality, intended to provide a pathway for smaller brokerages to access rewards.
Orbit offers several benefits, including protection from eligible early payoff (EPO) fees, which Rocket Pro will waive for loans paid off within the applicable window. The program also includes Purchase Priority, providing same-business-day conditional approvals and a 12-business-day clear to close on eligible purchase loans. Additionally, the Padlock Exchange feature allows brokers to convert accumulated free rate extension days into basis-point pricing credits, which can be used to resolve issues on loans in the pipeline, such as rate changes or regulatory matters. Loan Officer Placement is another feature designed to connect newly licensed or transitioning loan officers with participating broker partners.
Brokers enrolled in Orbit will gain access to over 30,000 partner offers across various categories and will receive an Orbit badge for marketing use. The program will be available nationwide, with a new dashboard providing transparency on eligibility and earned benefits. Niemiec emphasized that Orbit is a professional rewards program built for professionals, encouraging brokers to continue their consistent business practices.
In conjunction with the Orbit launch, Rocket Pro also announced a wholesale pricing overhaul, establishing the same base pricing for all partners regardless of production volume, with improvements of 60 basis points for various loan types. Furthermore, the company extended its Compass credit incentive, originally set to end, through the end of the year at 20 basis points on eligible Compass loans. This credit, which has generated over $3 billion in locked loan volume, aims to help brokers compete for purchase business and build relationships with Compass agents.