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Rocket Pro TPO, the division of Rocket Mortgage working exclusively with independent mortgage brokers, this afternoon announced several innovations it said will help brokers grow, strengthen and protect their businesses.
The four major changes announced include:
- A new digital client portal to upload and eSign documents. Brokers also can choose how to brand the portal, either exclusively with their own brand or co-branding with Rocket.
- Protecting and enhancing broker relationships with real estate agents, including by connecting consumers who visit Rocket Homes (a separate division) online with one of its 25,000 verified real estate agents, as well as with one of Rocket Pro TPO’s Pinnacle Partners. In addition, Rocket Pro will host networking events called “Pro Mixers” for agents and brokers, with the first set for next month in San Francisco.
- A completely rebuilt marketing hub, providing marketing materials in a broker portal and the ability for brokers to customize the portal. The portal includes a learning center for tutorials; and
- Enhancing Rocket Connect, which allows brokers and underwriters to communicate, by committing to a two-hour response time and the ability to connect with operations leaders, also within two hours.
The announcement was made this afternoon during a live-streaming event via Zoom hosted by Rocket Pro TPO Executive Vice President Austin Niemiec. It was held on the one-year anniversary of the rebranding of Quicken Loans Mortgage Services to Rocket Pro TPO.
Niemiec said that with the rebranding, the company promised brokers the change represented more than just a new name, but also a commitment that brokers would benefit from innovative Rocket technology, relationships, and the Rocket brand to help their businesses grow.
“We believe true leaders help brokers succeed,” Niemiec said. “They view the world with a limitless mindset. The mortgage market is huge, the pie is nearly infinite, and it’s our responsibility to help the brokers who work with us get a bigger piece of it.”
During the online event, he also took a few jabs at United Wholesale Mortgage, though without citing it by name, for issuing an ultimatum earlier this year to brokers stating they could work with either UWM or Rocket, but not both.
“The last 12 months also have been interesting,” Niemiec said. “Other lenders have issued ultimatums; we’re focused on working for you.”
He continued, “We believe true leaders view the world in an infinite mindset, not a finite one. … So, while other lenders are focused on putting up barriers, fines, contracts, and fear, we’re focused on … breaking barriers and building bridges — helping brokers leverage the tools, resources, and knowledge Rocket Mortgage has built as the nation’s largest mortgage lender.”
In an interview following the online event, Niemiec said there is no penalty for Rocket Pro TPO if it doesn’t meet the two-hour commitment on Rocket Connect, other than losing the trust of its partners. “We earn our partners’ business every day,” he said. “When we commit to doing something, we do it. I wouldn’t expect our partners to trust us with our business if we didn’t.”
Given the speed commitment made via Rocket Connect, Niemiec said he believes brokers should be able to go from application to closing within 15 days. “We’re moving faster than any other wholesale lender in America,” he said. “We are underwriting loans in a day, reviewing documents in under a day, sometimes hours.”
Nearly all of the enhancements announced today are live, Niemiec said.
“The new marketing hub is live, the Rocket Connect commitment is live,” he said. “Connecting clients with Pinnacle Partners and Rocket Home agents is live for over 100 Pinnacle Partners and the rest will be onboarded in waves over the next 12 months.
“The digital platform that connects and protects current agents' relationships is live, and the new digital client portal is live for a select group of partners, with a national launch in December,” he added.