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Rocket Pro standardizes wholesale pricing with a 60-bps base boost
The new base pricing applies to agency, conventional, FHA and VA loans for all partners regardless of production volume and will not expire.
HousingWire reports Rocket Pro, the wholesale mortgage platform tied to Rocket Mortgage, rolled out a wholesale pricing overhaul for its September Power Play that sets the same base pricing for all partners regardless of loan volume.
The company said the change improves base pricing by 60 basis points for agency, conventional, FHA and VA loans and is not time limited.
Rocket Pro said the goal is to give brokers more certainty on pricing without forcing them to shift production or monitor short term promotions, positioning the update as part of a broader push that began in February.
In comments ahead of the announcement, Rocket Mortgage chief revenue officer Austin Niemiec said the company does not think pricing should be “gamified,” adding that about 70% of Rocket’s revenue comes from businesses or products that are not rate reliant, which he said supports baking the pricing into base terms.