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Mortgage company Rocket to buy rival in $9.4B deal

Rocket, a Detroit-based mortgage company, is acquiring Mr. Cooper in a deal valued at $9.4 billion.
Rocket aims to provide a one-stop shopping experience amidst a slumping U.S. Housing market.
This acquisition follows Rocket's recent purchase of Redfin for $1.75 billion in stock.
The company stated that the deal will boost loan volumes and lower client acquisition costs.
After the deal, Rocket shareholders will own about 75% of the combined company.

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Helena Independent Record

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Mortgage company Rocket to buy rival in $9.4B deal

The mortgage company Rocket is buying competitor Mr. Cooper in an all-stock deal valued at $9.4 billion, just weeks after acquiring real estate listing company Redfin.

2 days ago·Helena, United States

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Mr. Cooper's Subservicing Clients Face A Dilemma

Cost of switching from Mr. Cooper Although UWM’s move to cancel its contract with Mr. Cooper was widely expected, it’s unclear how other lenders that have servicing contracts with Mr. Cooper will respond to the $9.4 billion deal. Of Mr. Cooper’s $1.6 trillion servicing book as of Dec. 31, 2024, 53% of it was subservicing performed on behalf of other lenders. Roughly 47% of the portfolio contained owned mortgage servicing rights (MSRs) by the Dal…

1 day ago

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HousingWire

How Rocket's acquisition of Mr. Cooper could reshape the industry

On a recent episode of the HousingWire Daily podcast, Managing Editor James Kleimann joined Sarah Wheeler to unpack Rocket Companies’ headline-making acquisition of Mr. Cooper — a $9 billion deal that could reshape the mortgage landscape for years to come. Coming on the heels of Rocket’s Redfin acquisition, the move signals the company’s intent to control the full mortgage journey from lead generation to long-term servicing. “If you think about …

1 day ago

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omahadailyrecord.com

Mortgage Company Rocket Buying Mr. Cooper In All-Stock Deal Valued At $9.4 Billion

A Rocket Companies sign is displayed on the exterior of the New York Stock Exchange, Aug. 6, 2020, in New York. (Mark Lennihan / AP Photo) By Michelle ChapmanThe Associated PressThe mortgage company Rocket is buying competitor Mr. Cooper in an all-stock deal valued at $9.4 billion, just weeks after acquiring real estate listing company Redfin. Rocket Cos. said Monday that bringing Mr. Cooper Group Inc. into the fold will create a business repre…

2 days ago

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American Banker

Rocket-Mr. Cooper should pass regulatory scrutiny

Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed.

2 days ago

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