![]() ![]() The company is also exploring other ways to use the Quicken Loans website in the future, a spokesman said. The company’s documentation and communications to borrowers will bear the new name moving forward, but will remain in operation after the name change and direct customers to Rocket Mortgage. New and existing customers won’t be affected much by the change. ![]() During Q2, total origination fell 59 on a year-over-year basis to 34.5. However, mortgage origination is its primary business. A spokesman for Rocket Companies said the ownership of the “Quicken Loans” name did not factor into the decision to switch to Rocket Mortgage as the brand. Rocket describes itself as a fintech, and in many ways it is. ![]() In the SEC filing, the company said it had entered into an agreement to assume full ownership of the brand in 2022. When Gilbert bought Rock Financial back from Intuit years later, he got the mortgage business, but Intuit retained the name. went public, the company noted in a filing with the Securities and Exchange Commission that it does not own the rights to the Quicken Loans trademark, but licenses the name and trademark from Intuitīack when Intuit purchased Rock Financial, which was founded by Dan Gilbert, it merged Rock’s existing mortgage business with its own QuickenMortgage entity. In advertisements that aired during the Super Bowl in 2016, the company boasted how mortgage borrowers could go through the entire loan origination process from application to closing without speaking to any people if they wanted.īefore Rocket Cos. We just eclipsed Bank of America, and now were only behind Rocket and. Quicken Loans first debuted the Rocket Mortgage brand back in 2015 as the name for its new, digital lending process. LoanDepot’s profits rose by a staggering 5,750 to 2 billion in 2020, while revenues more than tripled to 4.3 billion. The company also owns auto financer Rocket Auto and personal loans company Rocket Loans, among other subsidiaries. “With this official name change, we will have a consistent brand that is synonymous with innovation and excellence,” said Jay Farner, CEO of both Rocket Mortgage and Rocket Cos. ![]()
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