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Rocket ‘executing ahead of plan’ with profitability at 4-year high
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Real Estate News
What Rocket had to sayOn Redfin: Redfin is "paying dividends" for Rocket, Brown said during Thursday's call.
"Mortgage leads from Redfin in June doubled year-over-year" while "the percentage of Redfin buy-side clients who finance with Rocket Mortgage has reached 47% — approaching our 50% target," he said.
"Through our Compass partnership, Rocket Pro brokers have originated more than $2 billion of net rate lock volume," he told investors.
Key numbersTotal net revenue: $2.78 billion in Q2, up from $1.45 billion a year prior but down from $2.94 billion in Q1.
Q3 outlook: Rocket expects adjusted revenue to be in the $2.5 billion to $2.7 billion range, the company said.