Rocket Pro's November Power Play introduces Quick Counter, a new application that allows brokers to upload a competing Loan Estimate, compare pricing, and generate a counteroffer while the borrower is still on the phone.
Available through Rocket Pro Navigate, the tool supports cash-out and rate-and-term refinances, with real-time adjustments to rates, points, and loan terms. Brokers can evaluate lowest-closing-cost options, recommended rates, and full rate-sheet pricing before generating a new Loan Estimate.
Austin Niemiec, Rocket Mortgage's chief revenue officer and head of Rocket Pro, told NMP that the technology eliminates much of the manual work involved in responding to competing offers.
"It takes what brokers and loan officers have been doing for years and speeds it up dramatically, and it does it even more intelligently than a human could," Niemiec said.
From Competing Offer To Counteroffer
Quick Counter analyzes an uploaded competitor's Loan Estimate and structures alternative offers based on rate, upfront costs, or a combination of both.
"For decades, clients have been calling loan officers with a competing loan estimate, asking, 'Can you beat it?'" Niemiec said.
Previously, he explained, brokers had to enter the competing offer into a pricing system, evaluate alternatives, and account for differences in payoffs, taxes, and insurance.
"Quick Counter allows a broker to simply upload that competing loan estimate. It ensures an apples-to-apples comparison, and then it structures various options to beat that competing loan estimate," Niemiec said.
The application combines competitor-offer analysis, pricing adjustments, and Loan Estimate generation within a single workflow.
Rocket tested Quick Counter with brokers during development. "They love the simplicity, they love the speed, and it solves one of their major concerns," said Niemiec.
From Winning Pitch To Finished Product
Quick Counter originated with Seth Hasan of West Capital Lending, whose proposal won Rocket Pro's Big Pitch competition at the company's September Rocket Pro Experience (RPX) event.
Rocket brought Quick Counter from prototype to launch in less than 60 days, according to Niemiec, with Hasan and his team involved in reviewing the finished product.
The competition invited brokers to propose technology solutions to operational challenges, with finalists working alongside Rocket's product and engineering teams to develop prototypes.
Hasan received the $100,000 grand prize. Rocket also committed to developing the other two finalist concepts: Right Track, designed to help rescue troubled loans, and Signal, intended to identify potential closing problems earlier in the process.
"We believe the product delivers Seth's vision because we've been building it with Seth, both through the prototype, and all the way to the finish line," he said.
"We believe simplicity is genius. I think brokers are going to see that it keeps things simple and obvious, while allowing them to drill into a bit more complexity when they want to."
Rocket Ties Technology To Broker Growth
Quick Counter joins a series of pricing and technology initiatives aimed at expanding Rocket's wholesale business.
At RPX in September, Rocket incorporated 60-basis-point purchase and refinance credits into its base pricing. In October, it introduced Orbit, expanding broker access to benefits including early payoff protection, purchase processing priorities, and pricing flexibility.
Niemiec said the initiatives are intended to reinforce one another.
"From the launch of our Compass credit with our broker partners, we've exceeded $3 billion in locks, which is just huge, and we're continuing to see it accelerate," he said.
Niemiec also cited Rocket's Base Price, Best Price initiative, introduced at RPX, as part of the strategy.
"You're starting to see how this is working as not just a bunch of features we're rolling out, but a strategy to help brokers win," he said.
Rocket is also reporting additional broker relationships.
"We’ve had more than 200 brokers make the move, get approved with us and start sending us loans over the last 90 days, which exceeded all of our expectations," Niemiec said.
The figure follows Rocket's September launch of its Moving Squad, an initiative aimed at recruiting brokers, including those working with UWM.
Quick Counter adds a new competitive capability to Rocket's growing tech platform, turning a broker-submitted concept into a product designed to capture refi business at the point of decision.
