General World News

Rocket blasts off in the private-label market

Jay-Farner-Quicken-Loans-HW
Rocket Companies CEO Jay Farner

Industry powerhouse Rocket Mortgage started out dabbling in the private-label secondary market slowly, with a single offering in 2019, followed by another in 2020, but it has come out with its engines roaring in 2021.

The nation’s largest mortgage lender has launched a total seven private-label jumbo-loan securitizations between 2019 and early November of this year backed by loan pools valued at $4.2 billion at the time of closings — with five of those offerings undertaken in 2021.

The two securitizations in 2019 and 2020 involved a total of 952 loans valued in aggregate at details ⇒

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