Our History | Rocket Companies (2024)

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Our History | Rocket Companies? ›

June 1985 – Dan Gilbert founded Rock Financial, which would become known as Rocket Mortgage, in 1985. The company was initially founded as a mortgage broker. 1988 – Rock Financial took the steps to become a mortgage lender. Rocket Mortgage is now one of the largest mortgage lenders in America.

He is the co-founder and majority owner of Rocket Mortgage, founder of Rock Ventures, and owner of the National Basketball Association's Cleveland Cavaliers.

Rocket Mortgage was formerly known as Quicken Loans, but officially changed its name in 2021. Owned by Rocket Companies, Rocket Mortgage has grown to become one of the most popular mortgage lenders in America.

Quicken Loans, the company behind Rocket Mortgage, has always been obsessed with finding a better way. That's why Rocket Mortgage was created: to make getting a mortgage easier.

Here's What Key Metrics Tell Us About Rocket Companies (RKT) Q4 Earnings. Rocket Companies (RKT) reported $693.81 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 44.3%. EPS of $0.00 for the same period compares to -$0.10 a year ago.

Gilbert owns about 70% of the company, based on its 2023 proxy statement and a 2015 bond prospectus that disclosed he owned 77% of the holding company Rock Holdings. Rocket Mortgage closed $133 billion in mortgage volume in 2022, according to its website.

Casinos. The pending sale of the Greektown Casino-Hotel still leaves Gilbert with several other gaming properties. They include Horseshoe Casino in Baltimore, Jack Cincinnati Casio, and Jack Cleveland Casino, among other properties. Collectively Gilbert has poured hundreds of millions of dollars into these projects.

Welcome to Rocket Mortgage®! The servicing of your home loan is moving from Flagstar to Rocket Mortgage on December 1, 2021. We're excited to be your mortgage support in the years to come.

2021-02-10 - BlackRock Inc. has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 5,506,751 shares of Rocket Companies, Inc. (US:RKT). This represents 4.8 percent ownership of the company.

On May 12, 2021 Quicken Loans announced that it would be rebranded to Rocket Mortgage, by July 31, 2021.

What is the downside to Rocket Mortgage? ›

Cons. Getting a customized interest rate requires a credit check, which can affect your credit score. Origination fees are on the high side compared with other lenders, according to the latest federal data. Doesn't offer home equity lines of credit.

In July 2021, we changed our official company name from Quicken Loans to Rocket Mortgage. We did this because Rocket Mortgage defines what we do best – take a complicated process and make it simpler using technology.

Detroit-headquartered lender Rocket Mortgage faces a class-action lawsuit for making repeated, unsolicited telephone calls, violating the Telephone Consumer Protection Act (TCPA).

Vanguard owns the most shares of Rocket Companies (RKT).

Largest shareholders include Fmr Llc, Vanguard Group Inc, Boston Partners, Jpmorgan Chase & Co, JVMAX - John Hanco*ck Disciplined Value Mid Cap Fund Class A, BlackRock Inc., Technology Crossover Management X, Ltd., Caledonia (Private) Investments Pty Ltd, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, ...

Based on analyst ratings, Rocket Companies's 12-month average price target is $10.94. Currently there's no upside potential for RKT, based on the analysts' average price target. Rocket Companies has a conensus rating of Moderate Sell which is based on 0 buy ratings, 7 hold ratings and 6 sell ratings.

His Bedrock company owns more than 100 downtown properties. It and its affiliates are Detroit's largest employer, with more than 17,000 workers. Gilbert's companies have invested and committed more than $5.6 billion in its efforts to help revitalize Detroit.

According to InsiderScore.com and securities filings, Gilbert owns roughly 1.9 billion shares of Rocket, putting his paper gain on the stock at more than $32 billion.

28.3 billion USD (2024)

Dan Gilbert / Net worth

So while Dan Gilbert owns the most property downtown, his 30-odd buildings seem small compared to what Kelly, Tatarian, Moroun, and others own. But unlike those men, Gilbert has plans to redevelop his properties and not just sit on them.