In 2019, it filed another patent for data set selection using multisource constraints. In 2018, it filed a patent on token verification from incremental inputs. Rocket Mortgage three patents center around verifying client data, filtering it and sourcing it, and extracting it from external parties. This is the 11th consecutive year either Rocket Mortgage or Quicken Loans has earned this accolade.
Power named Rocket Mortgage #1 in the nation for client satisfaction in primary mortgage origination. Of the clients who apply through Rocket Mortgage, 75% are first-time home buyers and/or Millennials. In 2019, it grew to 73.8 million, resulting in a record number of mortgage originations for Quicken Loans. In 2017, Rocket Mortgage had 18.2 million site visits.
Upon launch, TechCrunch claimed it was the mortgage industry’s “iPhone moment” and compared the application process to TurboTax.
#ROCKET MORTGAGE SQUARES CONTEST FULL#
Rocket automatically imports and verifies a home buyer’s information, making it possible to deliver a full mortgage approval in as few as 8 minutes. Rocket Mortgage asserts it is the first fully online and on-demand mortgage exeperience. On its first trading day, 100 million shares were sold, raising $1.8 billion. In 2020, Rocket Companies, Quicken Loans’ parent company, was listed on the New York Stock Exchange under the ticker symbol RKT. In 2019, it became the first lender to perform electronic closings (eClosings) in all 50 states. By 2016, its first full calendar year available to Quicken clients, Rocket Mortgage funded $7 billion in closed loans. Quicken Loans started developing Rocket Mortgage in 2012. Rocket Mortgage, the fintech lending brand of Quicken Loans, was first announced to the public in November 2015.
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