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Rocket Mortgage aims to grow share with pricing shift as volumes stay low
Rocket Mortgage CEO Jay Bray said the company has flipped more partners in the past 90 days than in prior years, using a 60-basis-point pricing move introduced at RPX to attract brokers during a depressed origination market.
Rocket Mortgage CEO Jay Bray said the company is planning to gain market share even as mortgage origination volumes remain depressed, pointing to a 60-basis-point pricing move announced at Rocket Pro Experience in Detroit. HousingWire reports Bray linked the pricing decision to Rocket’s strategy to win more partners in the current downturn.
Bray said Rocket flipped more partners in the past 90 days than it had in previous years, and he attributed that momentum to investments and broker-facing “Power Plays” being rolled out. HousingWire notes he also described what happened with United Wholesale Mortgage as a catalyst that is pushing brokers to reconsider how they protect their franchises.
The HousingWire account also says Bray highlighted the integration of Mr. Cooper’s servicing platform with Rocket’s technology and origination capabilities as a major strategic step. He framed the differentiator for brokers as having financial resources and deeper partnerships as the market navigates its downturn.
At RPX, Bray discussed Rocket Pro’s role in connecting with local markets and said Rocket’s pricing is intended to be better than competitors whose pricing may be tightening due to financial fragility. HousingWire reports he called “partner quality” a guiding theme from his broader experience in the industry, including his time leading Mr. Cooper Group.