

As search for new CEO begins, Rocket reports $197M loss in Q4
As search for new CEO begins, Rocket reports $197M loss in Q4
Having suffered a net loss of $197 million in the fourth quarter, Rocket Companies has lost about $363 million over the last two quarters. And a new CEO must be found.

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Rocket is at risk of losing title of largest originator to United Wholesale Mortgage as origination volume drops 71% year-over-year
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While the company improved on the prior quarter’s results, efficiency measures including layoffs failed to make up for less favorable secondary market conditions.
While the company improved on the prior quarter’s results, efficiency measures including layoffs failed to make up for less favorable secondary market conditions.
Loan origination volume dropped 26% to $21.6 billion from the previous quarter, bringing the company’s market share down to 3.1%.
The post loanDepot reports loss of $91.3M in Q1 appeared first on HousingWire.
Loan origination volume dropped 26% to $21.6 billion from the previous quarter, bringing the company’s market share down to 3.1%.
The post loanDepot reports loss of $91.3M in Q1 appeared first on HousingWire.
Jay Farner, who began Rocket Companies' transition from mortgage lender to fintech, is leaving. Here's what the new CEO will be inheriting.
Jay Farner, who began Rocket Companies' transition from mortgage lender to fintech, is leaving. Here's what the new CEO will be inheriting.
Rocket Cos. was barely profitable in the second quarter, earning a mere $60 million of net income, versus $1.03 billion in the first quarter and $1.04 billion for the second quarter of 2021.In its earnings call, management focused on how its various parts, including its new programs in solar and home equity, as well its acquisition of Truebill — now called Rocket Money — can help develop business in other parts of its organization.On the mortgage side it announced a new partnership with San...
Rocket Cos. was barely profitable in the second quarter, earning a mere $60 million of net income, versus $1.03 billion in the first quarter and $1.04 billion for the second quarter of 2021.In its earnings call, management focused on how its various parts, including its new programs in solar and home equity, as well its acquisition of Truebill — now called Rocket Money — can help develop business in other parts of its organization.On the mortgage side it announced a new partnership with San...
loanDepot says it expects origination volumes to fall to between $4 billion and $7 billion in the fourth quarter, a sharp decline.
loanDepot says it expects origination volumes to fall to between $4 billion and $7 billion in the fourth quarter, a sharp decline.
New American Funding mortgage review showing how NAF compares to other top lenders for mortgage rates, customer service, and loan options.
New American Funding mortgage review showing how NAF compares to other top lenders for mortgage rates, customer service, and loan options.
Forecasting that it will not turn a profit in the fiscal year of 2022, the company plans to make job cuts, suspend dividends and introduce new products.
Forecasting that it will not turn a profit in the fiscal year of 2022, the company plans to make job cuts, suspend dividends and introduce new products.
Dive Brief:
Australian developer and contractor Lendlease reported a AU$141 million ($98.2 million USD) loss for the first half of 2021, a result largely attributed to a U.K. law that forced it to shell out hundreds of millions to remediate residential properties.
Inflation and supply chain struggles continue to be concerns for Lendlease’s construction arm, though the $AU9.6 billion in backlog revenue (down 9% from the period before) is in line with the contractor’s target range for growt...
Dive Brief:
Australian developer and contractor Lendlease reported a AU$141 million ($98.2 million USD) loss for the first half of 2021, a result largely attributed to a U.K. law that forced it to shell out hundreds of millions to remediate residential properties.
Inflation and supply chain struggles continue to be concerns for Lendlease’s construction arm, though the $AU9.6 billion in backlog revenue (down 9% from the period before) is in line with the contractor’s target range for growt...