Page 4 - Rocket Cos News Today

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Richard Harris, a veteran of SparkPost, Oracle and AddThis, will lead the merged company, which said it will employ 144 people with no layoffs anticipated.

Still, the Detroit-based parent company of mortgage lending giant Rocket Mortgage said it had its best Q1 volume in purchase and cash out refinances.

Rocket Cos. Inc. in Detroit announced its first quarter results, which showed a net revenue of $2.7B and an adjusted revenue of $1.9B.

Rocket Mortgage and Amrock are offering buyouts to 8 percent of its workforce while Wells Fargo laid off employees last week.

If each employee who received this deal accepts it, the company’s headcount will be reduced by about 2,080.

In a coup for Black Knight, the deal is the latest in a growing trend as lenders see servicing as a way to smooth out revenue and retain past customers.

The Detroit Regional Chamber (DRC) today released its 2022 State of the Region which showed challenges with labor and supply chain issues.

Rocket Mortgage announced today a multi-year partnership with the Detroit Tigers that makes it the teams exclusive mortgage partner.

With an Q4 earnings report that showed declining revenues, Jay Farner called out lenders who reduce pricing and threw shade at certain unnamed lenders who fire employees via video call.