Overview
- Rocket reported Q1 net revenue of $2.94 billion with adjusted net income of $422 million, then guided Q2 adjusted revenue to $2.7–$2.9 billion.
- Closed loan volume reached $44.7 billion, placing Rocket just behind United Wholesale Mortgage’s $44.9 billion.
- Servicing fee income topped $1 billion on a $2.1 trillion portfolio of 9.4 million loans, with existing clients driving 54% of refinance closings.
- New AI tools handled prospecting for loan officers and lifted conversion, adding about $1 billion in monthly volume.
- Mr. Cooper integration ran ahead of plan with over half the servicing migrated and $400 million of expense synergies targeted by end-2026.