Rocket Companies, Inc. - RKT STOCK NEWS

Rocket Companies (NYSE: RKT) reported impressive Q4 and full-year 2020 results, with net income soaring to $2.84 billion for Q4 and $9.4 billion for the year, up 277% and 948% respectively. Total revenue for Q4 reached $4.7 billion, a 144% increase, while FY 2020 revenue surged to $15.7 billion, up 208%. The company declared a special dividend of $1.11 per share payable on March 23, 2021, reflecting its strong capital position. Rocket Companies also reported record closed loan origination volumes, exceeding $107 billion in Q4 and $320 billion for the year.

Rocket Mortgage and HomeFree-USA have expanded their partnership to enhance financial education and career training at six historically Black colleges and universities (HBCUs). This initiative aims to bridge the Black homeownership gap and diversify talent in the mortgage industry. The program focuses on tools for prospective homebuyers and provides HBCU students with skills for underrepresented fields. Rocket Mortgage will hire 10% of future interns from HBCUs, hoping to convert them into full-time employees. Financial terms of this partnership remain undisclosed.

Rocket Mortgage announced a successful Super Bowl Squares Sweepstakes, awarding $1.6 million to 14 winners, including two grand prize winners of $500,000 each. The event, designed to engage fans, showcased the largest game of squares ever. Rocket Mortgage aired two commercials featuring Tracy Morgan during the Super Bowl, receiving top ratings in USA Today's Ad Meter. The company closed $213 billion in mortgage volume in the first three quarters of 2020 and continues to lead with its digital mortgage solutions.

Rocket Mortgage, the largest mortgage lender in the U.S., will debut two commercials during Super Bowl LV, marking the fourth consecutive year it has advertised at the event. The ads will focus on the technology platform of Rocket Mortgage and the key role of local mortgage brokers in homeownership. CEO Jay Farner highlighted the pandemic's impact on home significance while emphasizing their digital solutions. Despite COVID-19 challenges, the company saw unprecedented application volume growth, delivering more home purchase approval letters than ever through its online platform.

Rocket Companies (NYSE: RKT) will announce its fourth quarter 2020 earnings on February 25, 2021. A conference call discussing the results will be held at 4:30 PM ET. A press release with detailed results will be issued prior to the call. Interested parties can access a live webcast of the event through the Company's investor relations website. Rocket Companies comprises various tech-driven businesses in real estate and financial services, including Rocket Mortgage and Rocket Homes, and aims to assist clients in achieving home ownership.

Rocket Mortgage has launched a national mortgage broker directory on its website, enhancing accessibility for homebuyers and those refinancing their loans. This directory allows consumers to connect with local independent mortgage brokers, increasing choice and convenience. The initiative coincides with Rocket Pro TPO's commitment to empower mortgage brokers, leveraging Rocket's robust digital infrastructure. The directory features 43,000 loan officers and is expected to attract significant traffic, as Rocket Mortgage's site sees nearly 115 million visitors annually.

On January 7, 2021, Rocket Mortgage announced the opening of entries for the second annual Rocket Mortgage Super Bowl Squares Sweepstakes, offering a total of $1.75 million in prizes. Participants can enter for free at RocketMortgageSquares.com. Last year's contest awarded $1 million in grand prizes and $50,000 for each scoring play during the Super Bowl. This year, two winners will receive $500,000 each, and $50,000 is available for every score change. Registration ends at 11:59 p.m. EST on February 4, 2021. Participants must be 18 or older and a resident of the U.S.

Nexsys Technologies, a subsidiary of Rocket Companies (NYSE:RKT), has launched its Clear HOI platform, aimed at streamlining the homeowners insurance verification process for mortgage lenders. This new tool automates communication between lenders and insurance companies, significantly reducing verification time from days to minutes. Major insurers, including Allstate and Liberty Mutual, have already joined the platform. Clear HOI integrates via API into lenders' systems, enhancing efficiency and security in the mortgage process.

Rocket Mortgage and Amrock reported achieving 90% of all digital closings with eNotes in the first three quarters of 2020. This performance more than doubled their digital closings from 2019. The COVID-19 pandemic has accelerated the adoption of digital closings, enhancing efficiency and reducing human error in transactions. Notably, Rocket Mortgage offers various digital closing options, including remote online notarization (RON) and hybrid closings. The company highlights its commitment to leveraging technology for a seamless mortgage experience, with 98% of loans utilizing its digital platform.