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Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

Together, we will improve the experience by connecting traditionally disparate steps of the search and financing process with leading technology that removes friction, reduces costs and increases value to American homebuyers. The deal is projected to boost Rockets adjusted earnings per share by late 2026.

Brokerage 482
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Rocket to Acquire Mr. Cooper in $9.4B Transaction

Appraisal Buzz

trillion across nearly 10 million clients, or one in every six mortgages in America. We look forward to welcoming Mr. Coopers nearly seven million clients. Following the acquisition of Mr. Cooper, Rocket will gain understanding of nearly seven million additional clients and 150 million annual customer interactions.

Clients 407
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Rocket Mortgage plans to double its purchase market share by 2027

Housing Wire

Rocket Companies , the parent of Rocket Mortgage , has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. Rocket plans to acquire more mortgage servicing rights (MSRs) to open up a new channel for acquiring clients.

Mortgage 459
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Rocket to Purchase Redfin for $1.75B

Appraisal Buzz

Together, we will improve the experience by connecting traditionally disparate steps of the search and financing process with leading technology that removes friction, reduces costs and increases value to American homebuyers. Rocket and Redfin have a unified vision of a better way to buy and sell homes, said Krishna.

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Rocket is acquiring Redfin’s huge flow of purchase leads. Can the mortgage giant convert them?

Housing Wire

When these clients are then connected with the best agents and the best loan officers, it creates a virtuous cycle. In the presentation to investors , Rocket claimed that with a simple process where the buyer only needs to interact with Rocket and Redfin, total client costs could decrease by 50% to $20,000.

Mortgage 281
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The crypto-mortgage is the new kid on the block

Housing Wire

LoanSnap is a mortgage company that employs artificial intelligence (AI) technology to originate loans more efficiently and faster. trillion and is projected to exceed $32 trillion in value by 2027. “…It’s all been organic so far, [so] it’s nascent today, but I expect it to grow quite quickly.”.

Mortgage 476
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After feedback, ICE revises Encompass SDK transition timeline

Housing Wire

Clients who wish to use ICE Mortgage Technology ‘s legacy Software Development Kit (SDK) technology on Encompass will be afforded a six-month grace period from the original Oct. Please note, these benefits are available to all Encompass clients without needing to transition to the web. SDK calls will cost $0.50