Detroit-based Rocket Companies, the parent of Rocket Mortgage, saw its strategy of investing in technology and expanding its servicing portfolio start to pay off in the third quarter of 2024. It originated $28.5 billion in loans during the period — up 28% year over year.

Short-lived relief in mortgage rates led to a double-digit increase in mortgage production and gains in market share during the period, executives said. But the company delivered a GAAP net loss of $481 million from July through September, a figure that was driven by a loss details ⇒

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