"Austin Niemiec, chief revenue officer of Rocket Mortgage, stated that the program has significantly increased broker activity tied to Compass-affiliated agents, with almost 20% of purchase business now involving these agents."
"Niemiec emphasized that the results from last month's Power Play exceeded expectations, indicating a strong broker engagement that prompted the decision to extend the pricing credit."
"The changes in non-QM lending capabilities reflect the evolving borrower profiles, with borrowers today being more complex and not fitting traditional agency guidelines."
Rocket Mortgage's wholesale lending division will continue a 100-basis-point stacked pricing credit for brokers, initially set to end in April. This includes a 60-basis-point purchase credit and a 40-basis-point Compass credit. The initiative, linked to Rocket Pro's partnership with Compass, has significantly boosted broker activity. The company is also expanding non-QM lending capabilities, raising loan limits and allowing cash-out refinancing. These changes address evolving borrower profiles and increased demand for non-traditional lending solutions.
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