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Rocket’s earnings plummet, but its liquidity remains solid

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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