Exclusive: Rocket Promotes Fawaz & Niemiec

Two of Rocket’s most well-known executives are taking on new leadership roles. 

Rocket Companies announced today that Senior Vice President Mike Fawaz has been promoted to executive vice president, succeeding Austin Niemiec, who becomes chief revenue officer of Rocket Mortgage.

In an exclusive interview with NMP, Fawaz said Tuesday that just because he is taking over Niemiec’s former position, it does not mean there will be an overhaul in the way things operate. He said he plans to carry the torch and continue spreading the message that brokers need choice and a strong lender like Rocket to support their businesses — especially in a tough market. 

After working as ambassador to brokers and traveling around the country throughout most of the year to stay in touch with the community, Fawaz said he believes he has the wisdom and drive to succeed in his new position. 

“I got to know them on a personal level, whether they were partners of Rocket Pro TPO or not,” he said. “I got to see what they deal with on a daily basis and some of the challenges they go through. And, I'll tell you, I want to dedicate some of my time in 2023 to helping our brokers grow, deal with their challenges, and help them get through 2023.” 

At this point, Fawaz said he anticipates that 2023 will look very similar to the second half of 2022 — higher rates, low inventory, and low application volume compared to the past two years. He projects loan volume will land somewhere between $1.6 trillion and $1.8 trillion by the end of the year. Although he’s heard talks of $2.5 trillion and $3 trillion, he is not that optimistic. 

“As Jay Farner said on the last earnings call, I believe that 2023 will show who's well capitalized and who has invested in their platform and who was ready to take on the mortgage industry,” Fawaz said. “It's gonna create separation. And I'm proud to be part of Rocket Mortgage.”

Watch The Full Exclusive Interview

Those familiar with Fawaz know what an accomplishment this promotion is. He grew up in war-torn Liberia, never had a hot shower until he emigrated to America at the age of 18, and went on to become one of the hardest working employees at Rocket. 

His colleagues and friends — like Niemiec, Rocket spokesman John Perich, and Omni Fund CFO Raj Kandola — describe him as an empathetic and compassionate leader. Although some in the industry prefer a more shrewd approach, Fawaz values the relationships he builds with brokers, calling them his family.

“I don't plan on changing anything when it comes to my leadership style,” he said. “I believe in relationships. I believe in being committed to people. I believe in giving everyone an opportunity, just like I was given an opportunity when I moved to this country.”

Niemiec did not comment on his promotion to chief revenue officer, but Fawaz said he will be responsible for the overall vision and serve as a leading strategist for Rocket Mortgage’s home lending business. After working with Niemiec for the past five and a half years, Fawaz said he can’t think of a better fit for that position. 

“He's one of the best communicators I've ever met in my life,” Fawaz said of Niemiec. 

Niemiec takes over the role of chief revenue officer from Rocket Mortgage President Tim Birkmeier, who had been serving in dual roles. Birkmeier will retain the title of president.

Rocket is gearing up for a tough market in 2023, expecting even more wholesale lenders to step out of the game and brokers to leave the business. Rocket’s stated No. 1 mission is to continue providing value for the broker community, such as optionality, first-time homebuyer products, affordable home products, and platforms that will get them from start to finish in a seamless process. 

“I do believe that we will grow in 2023, and I'm committed to making sure that we deliver to every single broker in America, whether you’re partners of Rocket Pro TPO or not. We want to give you an opportunity to compete,” Fawaz said.