Quicken Loans Mortgage Services 'Rockets' to New Heights, Bringing Most Recognizable Brand in Mortgage Origination to Broker Partners
Quicken Loans Mortgage Services (QLMS) is rebranding as Rocket Pro TPO, aimed at leveraging the renowned Rocket Mortgage brand. This transformation will enhance technology and services for brokers, community banks, and credit unions, offering them access to exclusive tools like a new white-labeled origination hub and the PathFinder platform. The initiative includes co-branding opportunities and a share of $5 billion in marketing efforts. In Q2 2020, Rocket Mortgage's Partner Channel saw a revenue increase of over 500%, demonstrating significant growth.
- Rebranding to Rocket Pro TPO aligns with the strong Rocket Mortgage brand, enhancing visibility and marketing opportunities for partners.
- Introduction of advanced technology tools like PathFinder to streamline mortgage origination for brokers.
- Increased access to marketing materials and shared leads, with plans to distribute 10,000 purchase leads to partners.
- None.
DETROIT, Sept. 22, 2020 /PRNewswire/ -- Quicken Loans Mortgage Services (QLMS), the fastest growing mortgage lender serving brokers, community banks and credit unions, today announced a complete rebrand coming soon, and with it will come a massive step forward in the technologies and services it offers partners.
QLMS will become Rocket Pro TPO (TPO representing "third party origination") within the next 60 days, to closer align with Rocket Mortgage – the brand that has become ubiquitous in the mortgage lending space. This move gives its partners the opportunity to leverage the equity of the strongest name in personal finance, while accessing an entirely new suite of industry-revolutionizing technologies.
"Through the thousands of conversations we have had with our partners, we know brokers want cutting edge technology, marketing support and more referrals. QLMS is now aligning with the Rocket brand – the most recognizable mortgage brand in the country – and giving partners the ability to use it in their marketing to assist more Americans," said Austin Niemiec, Executive Vice President of the soon-to-be-named Rocket Pro TPO. "We have spent billions of dollars in the development and marketing of the Rocket platform which we are now delivering directly to brokers to leverage and grow their business."
Partners will have access to exclusive and powerful Rocket technology. The lender is building an entirely new white-labeled, broker-branded origination hub which will provide seamless e-signature technology, unmatched visibility into loan status and the ability for applicants to directly upload loan documents.
Additionally, partners will have the ability to leverage the extremely well-known Rocket Mortgage name through co-branding, as well as tie into leads generated by its national and local advertising. By leaning on this, brokers can capitalize on the
Rocket Pro TPO also partnered with Google to create and unveil PathFinder, which is the integration and reimagination of many of its most popular tools into one centralized location. It combines popular resources like Guru, a search engine for mortgage origination; and The Answer, an award-winning tech tool powered by Google search which provides solutions to all mortgage guideline questions, into a completely new technology to put the power of thousands of underwriters into every broker's office.
Since every second counts for the broker community, Rocket Pro TPO added additional features to PathFinder which are solely focused on decreasing the amount of time partners spend searching for answers to various complexities throughout the mortgage process. This includes a BPMI calculator, Title Gadget – to help partners find all their title needs in mere seconds – and much more.
"Rocket Mortgage has truly set itself apart from the rest of the industry because we have taken an incredibly difficult and labor-intensive process and distilled it into a simple technology platform that allows clients – and now our partners – to have unmatched visibility and communication," said Bob Walters, President and COO of Rocket Mortgage. "As we continued to grow and evolve our business, we always looked forward to the day when we could extend its reach to our broker partners, who play such an important role in helping clients achieve the American Dream of homeownership."
Rocket Pro TPO is celebrating this new chapter by doubling down on its commitment to its partners. To start, the company will be sharing an unprecedented 10,000 purchase leads with its network. This serves as an introduction to the value Rocket Pro TPO brings to the broker community, as well as the new ecosystem of lead share that will continue to develop over time.
In addition to increased access to marketing materials, a co-branded experience for borrowers and new technology, the lender has also created its exclusive Rocket Pro Referral network. This platform connects partners to an entirely new network where they can build relationships, look for opportunities and obtain leads. This encourages consumer-facing influencers to submit a client's information and send it to their preferred loan originator to complete the mortgage process. Through Rocket Pro Referral, real estate agents will be able to maintain visibility into their clients' loans, and mortgage brokers will receive more ready-to-transact borrowers referred to them on a platform that streamlines the origination process.
"Technology is evolving, as is the way consumers shop for homes and get their financing. QLMS has a rich history of always blazing new trails. Moving forward as Rocket Pro TPO, we are excited to share our industry-leading brand and technology with partners. No other lender can offer this level of investment in innovation which continues to revolutionize home financing. We are excited to now put this powerful origination system, and all the supporting elements, squarely at the fingertips of our growing list of partners across the country," Niemiec added.
Launched in 2010, QLMS has become a force in the broker community, adding new partners at an unprecedented rate with a streamlined on-boarding process that allows loan officers to begin originating mortgages with them in as few as 24 hours after application.
Now, Rocket Pro TPO's growing network, which includes more than 40,000 loan officers, is driving record originations and revenue. In the second quarter of 2020, Rocket Mortgage's Partner Channel, which includes Rocket Pro TPO, increased its annual revenue by more than
About Quicken Loans Mortgage Services
Quicken Loans Mortgage Services, soon-to-be-named Rocket Pro TPO, is a division of Rocket Mortgage, and a part of Rocket Companies, Inc. (NYSE: RKT). It works exclusively with mortgage brokers, community banks and credit unions. Rocket Pro TPO's partners provide the face-to-face service their clients desire, while tapping into the expertise, technology and award-winning process from Rocket Mortgage. The partner loan officer creates, and maintains, the relationship with the client. Rocket Mortgage approves, underwrites, processes and closes the loan in its name.
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SOURCE Quicken Loans Mortgage Services
FAQ
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