General World News

Rocket Mortgage made $9.5B in profits in 2020

Rocket Companies, the parent company of Rocket Mortgage, cleared another $2.48 billion in profits during the fourth quarter, giving the nation’s biggest mortgage lender a total of $9.5 billion in profits for 2020.

Rocket originated $107.2 billion in mortgages, with net rate lock volume of $96 billion in the fourth quarter, the company disclosed in a filing with the Securities and Exchange Commission.

Rocket managed to produce a gain-on-sale margin of 4.41% in the fourth quarter, which was up 100 basis points from the fourth quarter in 2019 but a decline of details ⇒

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