During this period of rising rates and general rate volatility, having the cash and credit lines on hand to ride out the rough patches in the market — known as liquidity — can be what separates the winners from the losers in the mortgage industry. 

Rocket Companies, the parent company of Rocket Mortgage, despite a less-than-impressive second-quarter earnings performance, appears to recognize that reality.

The nonbank lender boosted its liquidity significantly shortly after the end of the second quarter by adding a $1 billion credit facility secured by agency mortgage-servicing rights (MSRs), a recent filing with the U.S. Security and Exchange Commission (SEC) shows. The new details ⇒

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