Overview
- The company reported Q2 results on Thursday that included $2.78 billion in net revenue, $229 million in GAAP net income and $766 million in adjusted EBITDA.
- Rocket recorded record purchase and refinance market shares, with purchase share at 6.2% and refinance share at 14.3%, driven by higher origination volume and servicing income.
- Management said integration of Redfin and Mr. Cooper and AI tools boosted productivity, with loan officers handling about 40% more clients and Redfin mortgage leads more than doubling in June.
- Rocket sold $53 billion of mortgage servicing rights for roughly $795 million in proceeds while retaining subservicing and recapture rights on nearly 80% of the loans and hedging MSR interest risk.
- The company ended the quarter with about $11.2 billion in liquidity, an investment‑grade rating and guidance for lower adjusted revenue in Q3 of $2.5 billion to $2.7 billion as mortgage activity is expected to shrink.