Rocket Mortgage to Showcase the Power of its Digital Mortgage Experience, Highlight Local Brokers in Two Super Bowl LV Ads

Rhea-AI Summary

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.

Positive

• Rocket Mortgage delivered record home purchase approval letters through digital platforms in Q3 2020.
• The company closed $213 billion in mortgage volume across all states in the first three quarters of 2020.
• Continued strong demand for homeownership driven by COVID-19, with consumers seeking larger living spaces.

Negative

• None.

DETROIT, Feb. 1, 2021 /PRNewswire/ -- Rocket Mortgage, America's largest mortgage lender, today announced it will double down, debuting two new commercials during Super Bowl LV. The new spots mark the fourth year the company has advertised in the Super Bowl. This year's ads will showcase both the company's technology platform and the important role that local mortgage brokers play in helping Americans achieve the dream of homeownership. The campaign debuts at a time when home means more than ever due to the effects of COVID-19.

The commercials will feature superstar comedian Tracy Morgan, along with an action star, athletes and influencers demonstrating why it's important to use Rocket Mortgage in the homebuying process. One ad will feature the innovative Rocket Mortgage app, while the other will showcase the crucial role that independent mortgage brokers play in the mortgage financing world, serving as trusted advisors and leaders in their communities. Teasers for the advertisements will be released on the Rocket Mortgage YouTube channel and social media pages throughout this week.

"COVID-19 has fundamentally changed the way people think about their homes," said Jay Farner, CEO of Rocket Mortgage. "After nearly a year of many people living, working, exercising and learning from home, the pandemic has brought new meaning and significance to the place where we live. With our 2021 Super Bowl spots, we are bringing awareness to the importance of home and demonstrating how we continue to enable more Americans to achieve the dream of homeownership – whether through our digital solutions, our skilled mortgage bankers or mortgage brokers in local communities across the country."

Despite the ongoing pandemic, homeownership was strong throughout 2020 as Americans looked to move into larger houses, find places with more spacious yards and upgrade their existing residences. Another result of COVID-19 was a heighted interest in leveraging digital resources to complete formerly in-person tasks. Application volume through Rocket Mortgage's self-serve online experience grew significantly faster than overall volume through the first three quarters of 2020. In fact, during the third quarter, Rocket Mortgage delivered more home purchase approval letters through its digital experience than any quarter in company history.

The continued growth of the housing market comes in the wake of a pandemic that has created unprecedented health care and economic challenges throughout the country. Rocket Mortgage was proud to spearhead several initiatives focused on supporting its communities and keeping its team members, clients and neighbors safe.

"At Rocket Mortgage, we, and our family of companies, follow a 'for-more-than-profit' philosophy that acknowledges that our businesses and communities are inextricably linked," said Laura Grannemann, Vice President of the Rocket Community Fund – the philanthropic arm of Rocket Mortgage. "Detroit is our hometown, and we are proud to have leveraged our business tools to drive as much impact and resiliency as possible in the city during this difficult time. Through our work, we have been able to support the distribution of essential resources, prevent eviction and homelessness, and even establish a drive-thru testing site and centralized scheduling center for vaccine distribution throughout southeast Michigan."

The Rocket Community Fund has also extended support to its hometown of Detroit by donating more than $10 million, along with the Gilbert Family Foundation, to local non-profits to address the impact of COVID-19 on residents. That includes efforts from the company's team members who have contributed more than $300,000 to non-profits out of their own pockets, which was matched by the Rocket Community Fund, for a total of $622,416.

The Rocket Community Fund is also donating $545,000 to Habitat for Humanity to support their neighborhood revitalization program in Cleveland, Charlotte and Phoenix – three other Rocket Mortgage home cities. The funds will help more families recover from the housing crisis, which was accelerated by the pandemic.  

Tune in to Super Bowl LV at 6:30 p.m. EST, Sunday, February 7, on CBS to see Rocket Mortgage's commercials.

About Quicken Loans/Rocket Mortgage

Detroit-based Quicken Loans, the nation's largest home mortgage lender and a part of Rocket Companies (NYSE: RKT), enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. The company closed $213 billion dollars of mortgage volume across all 50 states in the first three quarters of 2020. In late 2015, Quicken Loans introduced Rocket Mortgage, the first fully digital mortgage experience. Currently, 98% of all home loans originated by Quicken Loans utilize Rocket Mortgage Technology.

Quicken Loans moved its headquarters to downtown Detroit in 2010. Today, Quicken Loans and Rocket Companies employ more than 22,000 full-time team members nationwide. The company generates loan production from web centers located in Detroit, Cleveland and Phoenix and operates a centralized loan processing facility in Detroit. Quicken Loans ranked highest in the country for customer satisfaction for primary mortgage origination by J.D. Power for 11 consecutive years, 2010 – 2020, and also ranked highest in the country for customer satisfaction among all mortgage servicers seven consecutive years, 2014 – 2020.

Quicken Loans was once again named to FORTUNE magazine's "100 Best Companies to Work For" list in 2020 and has been included in the magazine's top 1/3rd of companies named to the list for the past 17 consecutive years. In addition, Essence Magazine named Quicken Loans "#1 Place to Work in the Country for African Americans."

For more information and company news visit QuickenLoans.com/press-room.

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SOURCE Rocket Mortgage

FAQ

What is the significance of Rocket Mortgage's Super Bowl ads in 2021?

Rocket Mortgage's Super Bowl LV ads aim to showcase its technology platform and the importance of local mortgage brokers in achieving homeownership.

How did Rocket Mortgage perform financially in 2020?

Rocket Mortgage closed $213 billion in mortgage volume in the first three quarters of 2020 and delivered more home purchase approval letters than any other quarter.

What role does COVID-19 play in Rocket Mortgage's marketing strategy?

The pandemic has increased the focus on home significance, prompting Rocket Mortgage to adapt its marketing to emphasize digital solutions for homeownership.