Rocket Companies Inc
rocketcompanies.comWhat Do They Do?
Originates and services home mortgages, runs home-search and real-estate services, and offers personal-finance and personal-loan products to homebuyers, homeowners and mortgage partners.
10-K for FY2025, filed Mar 2, 2026Our flagship business, Rocket Mortgage, is the nation's largest mortgage originator by loan units and the nation's largest mortgage…View ↗
Rocket Mortgage. The nation’s largest mortgage lender, aiming to provide the simplest and most convenient way to get a mortgage. Our…View ↗
Redfin. On July 1, 2025, we completed the acquisition of Redfin, a leading digital real estate brokerage and home search platform. Our real…View ↗
How Do They Make Money?
Mortgage originations earn fees and a premium when loans are sold, while servicing brings recurring fees as borrowers make payments. Rocket Money subscriptions earn fees over contract terms; Rocket Close earns closing and appraisal fees when services are completed, while real estate services earn commissions and referral fees.
10-K for FY2025, filed Mar 2, 2026Gain on sale of loans excluding fair value of originated MSRs, net — includes all components related to the origination and sale of…View ↗
Servicing fee income — includes contractual servicing fees, late charges, prepayment penalties and other ancillary fees and such fees are…View ↗
Other income — includes revenue earned on deposits including custodial deposits, Rocket Close (title, closing and appraisal fees), Rocket…View ↗
Rocket Money subscription revenue — The Company recognizes subscription revenue ratably over the contract term beginning on the…View ↗
Rocket Close closing fee revenue — The Company recognizes closing fees for nonrecurring services provided in connection with the…View ↗
Rocket Close appraisal revenue — The Company recognizes appraisal revenue when the appraisal service is completed. The Company may choose…View ↗
$6.7B
-
10-K for FY2025, filed Mar 2, 2026
$6.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Subscription Revenue
Recurring
10-K for FY2025, filed Mar 2, 2026 |
37%
FY2022: 30%
|
Subscription Revenue, FY2025
$351M Sources
|
Recurring |
|
Closing Fees
Sold outright
10-K for FY2025, filed Mar 2, 2026 |
15%
FY2022: 41%
|
Closing Fees, FY2025
$139M Sources
|
Sold outright |
|
Appraisal Revenue
Sold outright
|
4.4%
FY2022: 17%
|
Appraisal Revenue, FY2025
$41M Sources
|
Sold outright |
|
Real Estate Network Referral Fees
|
6.0%
FY2022: 12%
|
Real Estate Network Referral Fees, FY2025
$56M Sources
|
|
|
Real Estate Brokerage
|
36% |
Real Estate Brokerage, FY2025
$341M Sources
|
|
|
Real Estate Exchange Revenue
|
1.3% |
Real Estate Exchange Revenue, FY2025
$12M Sources
|
Who Are Their Customers?
Homebuyers and homeowners can apply directly through Rocket Mortgage’s app, website or mortgage bankers; mortgage brokers, banks and consumer-focused companies connect borrowers through partner channels. Home-search and brokerage services also serve buyers and sellers.
10-K for FY2025, filed Mar 2, 2026Rocket Mortgage. The nation’s largest mortgage lender, aiming to provide the simplest and most convenient way to get a mortgage. Our…View ↗
Our mortgage origination business is organized around distinct marketing channels, which are reported within our Direct to Consumer and…View ↗
Redfin. On July 1, 2025, we completed the acquisition of Redfin, a leading digital real estate brokerage and home search platform. Our real…View ↗
We provide industry-leading client service and leverage our widely recognized brand to strengthen our wholesale relationships, through…View ↗
Do Revenues Turn Into Profits?
No. It lost $68M in FY2025.
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
$230MView ↗
- ▲ Now profitable
- vs −$2M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
Shrinking. Revenue fell 48% in 4 years, from $12.9B in FY2021 to $6.7B in FY2025, about 15% a year.
Redfin joins real estate
The older report describes Rocket Homes’ home-search platform and agent-referral network; the latest report adds Redfin’s digital brokerage and home-search platform to the real-estate portfolio.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Mar 2, 2026Amrock. Our leading provider of title insurance services, property valuation and settlement services, leveraging proprietary technology…View ↗
Correspondent channel
The older report describes Partner Network through wholesale and enterprise partnerships; the latest also includes correspondent lending, buying loans from third-party originators and financial institutions.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Mar 2, 2026Our mortgage origination business includes our Direct-To-Consumer (DTC) segment and our Partner Network segment. In the DTC channel, our…View ↗
Our mortgage origination business is organized around distinct marketing channels, which are reported within our Direct to Consumer and…View ↗
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