When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. The Detroit-based lender’s unmatched combination of name recognition, digital infrastructure and consumer technology enabled it to originate more than $670 billion in mortgages in 2020 and 2021, smashing records in the process.
Its parent Rocket Companies rode the wave to a stunning $9.4 billion in profit in 2020 and $6.1 billion in 2021.
But more than 80% of Rocket’s volume during details ⇒
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