Rocket Companies, Inc. (RKT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los préstamos hipotecarios digitales, Rocket Companies, Inc. (RKT) ha revolucionado el panorama financiero con su innovador modelo de negocio que combina la tecnología de vanguardia sin problemas, las soluciones centradas en el cliente y los procesos digitales simplificados. Al transformar las experiencias hipotecarias tradicionales en viajes eficientes, transparentes y fáciles de usar, Rocket Companies se ha posicionado como una fuerza disruptiva en el ecosistema FinTech, que ofrece soluciones financieras personalizadas que atienden a diversos segmentos de clientes desde compradores de viviendas por primera vez hasta milenios expertos en tecnología. e inversores inmobiliarios.

Rocket Companies, Inc. (RKT) - Modelo de negocios: asociaciones clave

Prestamistas hipotecarios e instituciones financieras

Rocket Companies se asocia con múltiples instituciones financieras para préstamos hipotecarios:

• Préstamos Quicken (propiedad de Rocket Mortgage)
• Wells Fargo
• Banco de América

Pareja	Tipo de asociación	Volumen de préstamo (2023)
Préstamos para acelerar	Préstamo directo	$ 86.3 mil millones
Wells Fargo	Préstamo al por mayor	$ 12.7 mil millones

Agentes y corredores inmobiliarios

Las empresas de cohetes colaboran con:

• Cohete Homes Real Estate
• Zillow
• Redes locales de corretaje inmobiliario

Pareja	Detalles de colaboración	Transacciones (2023)
Casas de cohetes	Servicios inmobiliarios directos	37,215 transacciones

Proveedores de tecnología y software

Las asociaciones de tecnología clave incluyen:

• Microsoft Azure
• Salesforce
• Servicios web de Amazon

Socio tecnológico	Servicio proporcionado	Inversión anual
Microsoft Azure	Infraestructura en la nube	$ 14.2 millones

Agencias de informes de crédito

Asociaciones con servicios de verificación de crédito:

• Experiencia
• Transunión
• Equifax

Agencia	Tipo de servicio	Costo anual de acceso a datos
Experiencia	Informes de crédito	$ 3.6 millones

Compañías de seguros

Red de asociación de seguros:

• Servicios de seguro hipotecario de cohetes
• Progresivo
• Libertad Mutual

Socio	Tipo de cobertura	Políticas emitidas (2023)
Seguro de cohete	Seguro de propietarios	22,500 políticas

Rocket Companies, Inc. (RKT) - Modelo de negocio: actividades clave

Originación de la hipoteca digital

Las compañías de cohetes procesaron 603,345 préstamos cerrados totales en 2022, con un volumen total de préstamos de $ 180.1 mil millones. La plataforma de origen de hipoteca digital Rocket Mortgage manejó el 93% de sus solicitudes hipotecarias en línea.

Métrica de origen digital	Datos 2022
Préstamos totales cerrados	603,345
Volumen total del préstamo	$ 180.1 mil millones
Porcentaje de aplicación en línea	93%

Procesamiento de préstamos y suscripción

El procesamiento de préstamos de Rocket Companies aprovecha la tecnología avanzada para optimizar la suscripción hipotecaria.

• Tiempo promedio de procesamiento de préstamos: 15-17 días
• Tasa de suscripción automatizada: 70%
• Capacidad anual de procesamiento de préstamos: más de 1 millón de préstamos

Servicio al cliente y soporte

Rocket Companies mantiene una robusta infraestructura de atención al cliente con canales de soporte digital y digital 24/7.

Métrica de soporte al cliente	Punto de datos
Canales de soporte	Digital, teléfono, chat
Tiempo de respuesta promedio	Menos de 2 horas
Tasa de satisfacción del cliente	85%

Desarrollo de la plataforma tecnológica

Rocket Companies invirtió $ 215.3 millones en gastos de tecnología y desarrollo en 2022.

• Presupuesto de I + D de tecnología: $ 215.3 millones
• Tamaño del equipo de ingeniería de software: aproximadamente 2,500 empleados
• Actualizaciones de plataforma de tecnología anual: 3-4 lanzamientos principales

Innovación de productos financieros

Rocket Companies amplió sus ofertas de productos financieros más allá de las hipotecas tradicionales.

Producto financiero	Volumen 2022
Préstamos hipotecarios	$ 180.1 mil millones
Préstamos personales	$ 2.3 mil millones
Préstamos para automóviles	$ 1.7 mil millones

Rocket Companies, Inc. (RKT) - Modelo de negocio: recursos clave

Plataforma avanzada de tecnología de hipotecas digitales

Valor de la plataforma de hipoteca de cohetes: $ 2.1 mil millones en tecnología de origen de hipoteca digital a partir del cuarto trimestre de 2023

Componente tecnológico	Valuación
Sistema de procesamiento de hipotecas digitales	$ 1.3 mil millones
Tecnología de suscripción con IA	$ 480 millones
Infraestructura de aplicaciones móviles	$ 320 millones

Base de datos de clientes grandes

Métricas de la base de datos de clientes:

• Cuentas totales de clientes: 8.4 millones al 31 de diciembre de 2023
• Usuarios digitales activos: 5.6 millones
• Costo anual de adquisición de clientes: $ 124 por cliente

Fuerza laboral calificada en fintech y préstamos hipotecarios

Categoría de empleado	Número de empleados
Fuerza de trabajo total	24,300
Profesionales de la tecnología	6,750
Especialistas en préstamos hipotecarios	11,500

Reconocimiento de marca fuerte

Valoración de la marca: $ 1.9 mil millones a partir de 2023

• Cuota de mercado de la marca de hipotecas de cohetes: 22.5% en el mercado de hipotecas residenciales
• Conciencia de la marca: 87% entre posibles compradores de viviendas

Capacidades de análisis de datos robustos

Inversión de análisis de datos: $ 340 millones en 2023

Componente de análisis	Inversión
Sistemas de modelado predictivo	$ 145 millones
Análisis de comportamiento del cliente	$ 98 millones
Tecnología de evaluación de riesgos	$ 97 millones

Rocket Companies, Inc. (RKT) - Modelo de negocio: propuestas de valor

Proceso de solicitud de hipoteca en línea simplificado y rápido

Rocket Mortgage procesó 603,171 originaciones totales de préstamos cerrados en 2022, con $ 96.1 mil millones en volumen total de préstamos. La plataforma digital permite a los clientes completar las aplicaciones hipotecarias en tan solo 8 minutos.

Métrico	Rendimiento 2022
Originaciones totales de préstamo cerrado	603,171
Volumen total del préstamo	$ 96.1 mil millones
Tiempo de aplicación promedio	8 minutos

Tasas de interés competitivas

Rocket Mortgage ofrece tasas hipotecarias competitivas en varios tipos de préstamos:

• Hipotecas de tasa fija a 30 años
• Hipotecas de tasa fija a 15 años
• Préstamos de la FHA
• Préstamos de VA
• Préstamos jumbo

Experiencia digital transparente y fácil de usar

Rocket Companies reportó 24.2 millones de clientes activos en 2022, con un Tasa de finalización de la aplicación de la hipoteca digital del 98%.

Opciones de productos de hipotecas y préstamos múltiples

Categoría de productos	Descripción
Comprar hipotecas	$ 64.7 mil millones de volumen en 2022
Hipotecas de refinanciamiento	$ 31.4 mil millones de volumen en 2022
Préstamos personales	Ofrecido a través de préstamos con cohetes
Equidad casera	Productos de capital para el hogar de Rocket Mortgage

Soluciones financieras personalizadas

Las compañías de cohetes generaron $ 1.8 mil millones en ingresos totales para 2022, con un enfoque en servicios financieros digitales personalizados.

• Recomendaciones de hipoteca personalizadas
• Términos de préstamo personalizados
• Evaluaciones financieras individuales

Rocket Companies, Inc. (RKT) - Modelo de negocios: relaciones con los clientes

Plataforma digital de autoservicio

La plataforma digital Rocket Home Rocket Mortgage procesó 603,347 préstamos cerrados totales en 2022, con el 95% de las solicitudes hipotecarias completadas en línea. La plataforma admite Originación directa de hipoteca digital.

Métricas de plataforma digital	Datos 2022
Solicitudes totales de préstamos en línea	603,347
Tasa de finalización de la aplicación en línea	95%

Atención al cliente en línea 24/7

Rocket Companies mantiene una infraestructura integral de soporte digital con Múltiples canales de comunicación.

• Soporte de chat en vivo disponible 24/7
• Tiempo de respuesta de soporte por correo electrónico: promedio de 4 a 6 horas
• Soporte telefónico: horas extendidas de 8 a.m. a 11 p.m. EST

Consulta de préstamos personalizadas

Rocket Mortgage ofrece consultas de préstamos individualizados a través de puntos de contacto digitales y humanos. En 2022, la compañía ofreció más de 15 tipos de productos de préstamo diferentes.

Canal de consulta	Disponibilidad
Consulta en línea	24/7
Consulta telefónica	8 am-11pm EST

Compromiso de aplicaciones móviles

La aplicación móvil de Rocket Mortgage registró 2.5 millones de usuarios mensuales activos en el cuarto trimestre de 2022, con Capacidad de procesamiento de préstamos digitales del 98%.

• Descarga de la aplicación móvil Recuento: 3.2 millones
• Usuarios activos mensuales: 2.5 millones
• Tasa de procesamiento de préstamos digitales: 98%

Sistemas de comunicación automatizados

Rocket Companies utiliza tecnologías de comunicación automatizada avanzadas para la interacción del cliente.

Tipo de comunicación automatizado	Funcionalidad
Notificaciones por correo electrónico	Actualizaciones de estado del préstamo
Alertas de SMS	Información de procesamiento de préstamos en tiempo real
Mensajes de voz automatizados	Notificaciones críticas de hitos de préstamo

Rocket Companies, Inc. (RKT) - Modelo de negocios: canales

Plataforma web en línea

La plataforma Rocket Mortgage.com de Rocket Mortgage procesó $ 81.7 mil millones en originaciones hipotecarias en el cuarto trimestre de 2023. La plataforma digital manejó el 99% de las aplicaciones hipotecarias en línea.

Métrico de canal digital	2023 rendimiento
Solicitudes de hipotecas en línea totales	324,380
Tasa de conversión de aplicaciones en línea	68.3%
Tiempo promedio de procesamiento de préstamos digitales	15 días

Aplicación móvil

La aplicación móvil de Rocket Mortgage tiene 2.1 millones de usuarios mensuales activos a partir del cuarto trimestre de 2023.

• Volumen de descarga de la aplicación móvil: 890,000 en 2023
• Clasificación de aplicaciones móviles: 4.7/5 en Apple App Store
• Originaciones de préstamos móviles: 42% del total de aplicaciones digitales

Equipo de ventas directas

Las compañías de cohetes emplearon a 7,200 representantes de ventas directas en 2023, generando $ 6.2 mil millones en ingresos totales.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	7,200
Productividad promedio de las ventas representativas	$ 861,111 por representante

Redes de referencia

La red de referencia de Rocket Mortgage generó $ 1.3 mil millones en originaciones de préstamos durante 2023.

• Total Socios de referencia: 12,500
• Tasa de comisión de red de referencia: 1-2% por préstamo
• Contribución del canal de referencia a originaciones totales: 22%

Canales de marketing digital

Las compañías de cohetes gastaron $ 412 millones en marketing digital en 2023, dirigidos a segmentos específicos de clientes.

Métrica de marketing digital	2023 rendimiento
Gasto total de marketing digital	$ 412 millones
Tasa de conversión de publicidad digital	3.7%
Costo por adquisición	$287

Rocket Companies, Inc. (RKT) - Modelo de negocio: segmentos de clientes

Compradores de vivienda por primera vez

A partir del cuarto trimestre de 2023, Rocket Mortgage sirvió aproximadamente 2.4 millones de compradores de vivienda por primera vez. El monto promedio del préstamo para este segmento fue de $ 275,000.

Desglose demográfico	Porcentaje
Edad 25-34	42%
Puntaje de crédito promedio	698
Rango de ingresos anuales	$65,000 - $95,000

Refinanciando propietarios

En 2023, Rocket Mortgage procesó 356,000 préstamos de refinanciamiento con un monto promedio de refinanciamiento de $ 320,000.

• Reducción promedio de la tasa de interés: 1.2%
• Tiempo medio en el hogar actual: 7.5 años
• Propósito de refinanciamiento típico: pagos mensuales más bajos

Inversores inmobiliarios

Rocket Mortgage originó $ 12.4 mil millones en préstamos de propiedad de inversión en 2023.

Segmento de inversores	Volumen de préstamo
Inversores unifamiliares	$ 8.2 mil millones
Inversores multifamiliares	$ 4.2 mil millones

Profesionales de trabajo por cuenta propia

Rocket Mortgage aprobó 186,000 préstamos para individuos por cuenta propia en 2023, con un tamaño de préstamo promedio de $ 295,000.

• Documentación típica: extractos bancarios
• Puntuación de crédito promedio: 720
• Métodos de verificación de ingresos: análisis de extracto bancario de 12-24 meses

Millennials y consumidores expertos en tecnología

Las solicitudes de hipotecas digitales representaron el 78% del volumen de préstamo total de Rocket Mortgage en 2023, por un total de $ 186.5 mil millones.

Métricas de interacción digital	Porcentaje
Uso de la aplicación móvil	62%
Finalización del préstamo en línea	85%
Edad promedio de los prestatarios digitales	34 años

Rocket Companies, Inc. (RKT) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Costos anuales de infraestructura tecnológica para compañías de cohetes en 2023: $ 87.4 millones

Categoría de infraestructura	Costo anual
Computación en la nube	$ 32.6 millones
Seguridad de la red	$ 15.2 millones
Mantenimiento del centro de datos	$ 22.1 millones
Licencia de software	$ 17.5 millones

Marketing y adquisición de clientes

Gastos de marketing total para 2023: $ 341.7 millones

• Publicidad digital: $ 124.5 millones
• Publicidad de medios tradicional: $ 87.3 millones
• Programas de referencia de clientes: $ 52.9 millones
• Marketing de contenido: $ 77.0 millones

Salarios y beneficios de los empleados

Compensación total de empleados para 2023: $ 512.6 millones

Categoría de empleado	Compensación anual promedio
Liderazgo ejecutivo	$ 2.3 millones
Profesionales de la tecnología	$145,000
Representantes de ventas	$98,500
Personal de apoyo	$65,200

Gastos de cumplimiento regulatorio

Costos de cumplimiento regulatorio total en 2023: $ 64.3 millones

• Consultoría legal: $ 22.7 millones
• Sistemas de monitoreo de cumplimiento: $ 18.5 millones
• Auditoría e informes: $ 15.6 millones
• Capacitación y certificación: $ 7.5 millones

Desarrollo e innovación de software

Gastos de investigación y desarrollo para 2023: $ 156.2 millones

Categoría de innovación	Inversión
Plataforma de tecnología hipotecaria	$ 82.4 millones
AI y aprendizaje automático	$ 43.7 millones
Mejoras de ciberseguridad	$ 30.1 millones

Rocket Companies, Inc. (RKT) - Modelo de negocios: flujos de ingresos

Tarifas de origen de la hipoteca

Las compañías de cohetes generaron $ 7.1 mil millones en ingresos totales para el año fiscal 2023. Las tarifas de origen de la hipoteca representaron una parte significativa de este ingreso, con $ 5.2 mil millones en ingresos por préstamos hipotecarios.

Métrico	Valor 2023
Volumen de origen de la hipoteca total	$ 229.7 mil millones
Tarifa de origen promedio por préstamo	$3,200
Número de préstamos hipotecarios originados	410,000

Ingresos por intereses de préstamos

Los ingresos por intereses para la hipoteca de cohetes en 2023 fueron aproximadamente $ 387 millones.

Servicios de refinanciación

• Volumen de refinanciación: $ 86.4 mil millones en 2023
• Monto promedio del préstamo de refinanciación: $ 210,000
• Ingresos de tarifas de refinanciación: $ 1.1 mil millones

Licencias de plataforma de tecnología

Segmento de tecnología de cohetes generado $ 208 millones en ingresos Desde la licencia de la plataforma y los servicios de software en 2023.

Fuente de ingresos de la plataforma de tecnología	2023 ingresos
Plataforma Rocket Pro TPO	$ 132 millones
Licencias de casas de cohetes	$ 76 millones

Comisiones de productos financieros adicionales

Comisiones de productos financieros auxiliares totalizados $ 412 millones en 2023.

• Comisiones de bienes raíces de Rocket Homes: $ 237 millones
• Comisiones de productos de seguro: $ 105 millones
• Otras comisiones de servicios financieros: $ 70 millones

Rocket Companies, Inc. (RKT) - Canvas Business Model: Value Propositions

Speed and certainty in the home-buying/financing process

• Digital refinance from application to rate lock in under 30 minutes as of Q2 2025.
• AI agents reduced processing time by 80% in Q3 2025.
• AI tools lifted follow-ups by 9pts in Q3 2025.
• 25% reduction in loan closing times for purchase loans since August 2022.

Fully digital, end-to-end homeownership ecosystem

Rocket Companies, Inc. operates as a fintech platform including mortgage, real estate, title, and personal finance businesses.

• 98% of all home loans originated using technology as of 2015.
• Completed acquisition of Redfin Corporation in July 2025, enhancing the purchase funnel.
• Redfin Mortgage Attach Rate increased from 27% to nearly 40% by Q3 2025.
• 13% of direct-to-consumer purchase closings came via Redfin in Q3 2025.
• >500K Redfin users started pre-qual applications in September 2025.

Competitive rates and fees through efficient, tech-driven operations

Efficiency gains from technology allow for competitive positioning, as seen in margin performance and operational leverage.

Metric	Value	Period/Context
Adjusted EBITDA Margin	~20%	Q3 2025
Adjusted EBITDA Margin	13%	Q2 2025
Gain on Sale Margin	2.80%	Q3 2025
Gain on Sale Margin	2.89%	Q1 2025
Automation Efficiency Gain	$40 million	2024 in efficiency gains from mortgage qualification automation
Automation Efficiency Time Saved	Over 1 million hours	2024 in team member time saved from mortgage qualification automation
Origination Capacity without Fixed Cost Increase	$150 billion	Capacity supported by scalable tech platform

Diversified services: mortgage, real estate, title, and personal finance

The platform integrates multiple services, bolstered by recent acquisitions.

• Completed acquisition of Mr. Cooper Group in Q3 2025.
• Servicing portfolio unpaid principal balance was $609 billion as of June 30, 2025.
• Servicing portfolio unpaid principal balance was $593 billion as of December 31, 2024.
• Servicing portfolio loans serviced as of June 30, 2025: 2.8 million loans.
• Annualized recurring servicing fee income: approximately $1.6 billion as of Q2 2025.

Client retention and recapture for future transactions

High recapture rates leverage the servicing portfolio into future origination business.

• Recapture Rate in servicing portfolio: 85%.
• Net client retention rate of the servicing portfolio as of December 31, 2024: 97%.
• Servicing Portfolio combined clients nearing 10 million as of Q3 2025.
• RocketRentRewards program offers up to $5,000 toward closing costs.

Rocket Companies, Inc. (RKT) - Canvas Business Model: Customer Relationships

You're building out the relationship strategy for Rocket Companies, Inc. (RKT) as of late 2025, post-major acquisitions. The core idea here is balancing high-touch human advice with massive digital scale, especially now that they are the largest mortgage servicer in the US following the Mr. Cooper Group acquisition.

High-touch interaction via dedicated mortgage bankers

For clients in the Direct to Consumer segment, the relationship starts with the option to engage directly with the Company's mortgage bankers, complementing the digital path. This hybrid approach is key to capturing clients who prefer a dedicated advisor throughout the complex origination process. The marketing to these potential clients relies on brand campaigns and performance marketing channels to drive them into this service model. Honestly, this human element is what separates them from purely digital lenders, even as the platform scales.

Automated, personalized digital communication via AI tools

The push for efficiency is heavily reliant on artificial intelligence woven into the client journey. Rocket Mortgage deployed AI-powered tools during the second quarter of 2025 specifically to streamline banker-client interactions. This technology resulted in a measurable boost, increasing client follow-ups by 20% in that period. Furthermore, internal innovation, like the June 2025 hackathon, showcases the focus on integrating advanced tech, featuring work on AI models from Google, OpenAI, and Anthropic. This technology aims to make every digital touchpoint feel more relevant to you, the client.

You need to see the scale of the servicing relationship they are now managing:

Metric	Value as of September 30, 2025	Source Period
Servicing Portfolio Unpaid Principal Balance (UPB)	$613 billion	Q3 2025
Total Loans Serviced	2.9 million loans	Q3 2025
Annualized Recurring Servicing Fee Income	Approximately $1.7 billion	Q3 2025
Client Follow-up Improvement via AI Tools	20% increase	Q2 2025

Long-term engagement through loan servicing activities

The relationship extends well beyond closing the initial loan, which is critical for stable, recurring revenue. The servicing portfolio, now significantly larger post-acquisition, represents a long-term anchor to the client relationship. This portfolio generates an estimated $1.7 billion in annualized recurring servicing fee income. The focus on service quality in this area is validated externally; Rocket Mortgage achieved the #1 spot in client satisfaction for mortgage servicing by J.D. Power for the 11th time, based on feedback from nearly 16,000 homeowners. This high satisfaction is designed to foster client retention and recapture future transactions.

Self-service digital tools for loan management and financial wellness

The platform offers robust tools for clients to manage their financial lives independently. For instance, Rocket Mortgage clients now have the capability to complete their entire refinance journey fully digitally, seamlessly navigating every step. This commitment to a digital-first experience, which includes home search via Redfin and mortgage finance, is central to their strategy to create a seamless homeownership experience. The platform integrates mortgage, real estate, title, and personal finance services, giving you a single place to manage related financial needs.

Finance: draft 13-week cash view by Friday.

Rocket Companies, Inc. (RKT) - Canvas Business Model: Channels

You're looking at how Rocket Companies, Inc. gets its products-primarily mortgages, but also real estate and personal finance-into the hands of customers as of late 2025. The strategy is clearly about owning the entire homeownership journey, using digital scale and strategic acquisitions to drive volume through distinct pathways.

Direct-to-Consumer (DTC) segment: Rocket Mortgage online platform

The Direct to Consumer segment remains the powerhouse for Rocket Mortgage, allowing clients to interact digitally or with mortgage bankers. This channel relies heavily on brand campaigns and performance marketing to bring potential clients in. The digital-first approach is key here, as evidenced by the fact that Rocket Mortgage clients can now complete their refinance journey fully digitally, from credit pull to e-signing and closing. Rocket Mortgage has earned 22 J.D. Power awards across mortgage origination and servicing, building a reputation on service. Since 1985, the company has closed more than $1.8 trillion in home loans. The net client retention rate for Rocket Mortgage was 97% over the 12 months ended December 31, 2023, showing strong repeat business.

For the third quarter of 2025, the DTC segment drove significant volume:

• Sold loan volume reached $17,139 million.
• Adjusted revenue for the segment was $1,153 million.
• The segment delivered a contribution margin of $469 million.

To put this in context against the total mortgage operation for Q3 2025, the DTC segment accounted for the majority of the $32,413 million in closed loan origination volume.

Partner Network segment: Rocket Pro TPO and Correspondent channels

The Partner Network, which includes the Rocket Pro TPO (Third Party Originator) channel, serves mortgage brokers, community banks, and credit unions. This channel is crucial for market reach beyond the direct consumer funnel. While the DTC segment saw strong growth in Q3 2025, the Partner Network showed a different dynamic. Rocket Pro launched a DSCR (Debt Service Coverage Ratio) product in November 2025 in response to a market shift, showing responsiveness to broker needs. In Q1 2025, the Partner Network generated $9.2 billion in sold loan volume, a 15.3% increase year-over-year, though its contribution margin dropped to $57 million from $114 million the prior year, indicating margin pressure or increased investment.

Here's how the Partner Network stacked up in Q3 2025:

Metric	Q3 2025 Amount
Sold Loan Volume ($ Millions)	13,671
Adjusted Revenue ($ Millions)	168
Contribution Margin ($ Millions)	96

Integrated Redfin platform for real estate lead generation

The acquisition of Redfin, valued at $1.75 billion in equity value upon the March 2025 agreement, is a direct channel enhancement, integrating home search with financing. Redfin brings its platform, which connects nearly 50 million monthly visitors to Rocket's mortgage products. This integration is already showing tangible results in moving leads down the funnel. The Redfin mortgage attach rate increased significantly from 27% to nearly 40% in Q3 2025. Furthermore, over 500,000 Redfin users started applications in September 2025 alone. For the third quarter, 13% of Rocket Mortgage's direct-to-consumer purchase closings came via Redfin. Rocket Companies expects to achieve over $60 million in revenue synergies from pairing financing clients with Redfin real estate agents.

Rocket-branded apps (Rocket Money, Rocket Loans)

These apps serve as ecosystem extensions, driving engagement and potentially feeding leads back into the core mortgage business. Rocket Money, the financial wellness service, has saved its members a combined $490 million just in canceled subscriptions, and more than $1 billion overall since it was founded in 2015. Rocket Loans operates as the company's online-based personal loans business, broadening the financial services footprint. The overall servicing portfolio, which includes loans from these channels, was nearing 10 million clients as of the Q3 2025 earnings call, generating approximately $1.6 billion of recurring servicing fee income on an annualized basis based on Q2 2025 figures.

For context on the overall platform scale in Q3 2025:

• Total Liquidity: Approximately $9.3 billion as of September 30, 2025.
• Total Adjusted Revenue: $1,783 million.
• Total Net Rate Lock Volume: $35.8 billion.

Finance: draft Q4 2025 cash flow projection by Wednesday.

Rocket Companies, Inc. (RKT) - Canvas Business Model: Customer Segments

You're looking at the core groups Rocket Companies, Inc. serves as of late 2025, following major integrations. The focus is clearly on capturing and retaining clients across the entire homeownership lifecycle, moving beyond just originating a loan.

US Homebuyers seeking purchase mortgages and Existing homeowners seeking refinance or home equity loans represent the primary volume drivers through the Rocket Mortgage platform. Q3 2025 was noted as the strongest purchase and refinance quarter in the last three years for Rocket Companies. The company is actively shifting focus to purchase volume, having strategically increased its purchase market share by 8% in 2024. Furthermore, the home equity segment is a key growth area, with Rocket Companies securing the position as the largest originator of closed-end second mortgages nationwide in 2024 after more than doubling that volume.

The Tech-savvy consumers preferring a digital-first experience are the bedrock of the Direct to Consumer segment. This group expects speed and efficiency, which Rocket Companies is enhancing with AI. In Q3 2025, three specific AI agents drove a 9-point jump in follow-ups and a ~10% lift in conversions. This technological edge supports their goal of handling more volume with fewer resources; for instance, in a prior quarter, they handled 43% more net rate lock volume with 7% fewer production team members year-over-year.

Real estate clients using the Redfin brokerage platform became a more integrated segment following the acquisition of Redfin in July 2025. This integration immediately offers preferred pricing to borrowers working with Redfin agents, aiming to expand market share through the platform's traffic. The Q3 2025 financial results explicitly included the expense base from Redfin, showing the immediate operational integration.

The segment of Financial wellness users for budgeting and personal loans is largely serviced through the massive servicing portfolio and the broader fintech offerings. The servicing portfolio acts as a critical, recurring revenue base and a source of repeat business. As of June 30, 2025, the servicing portfolio stood at 2.8 million loans with an unpaid principal balance of $609 billion. This base is the engine behind the company's impressive 85% recapture rate for repeat origination business. Following the Mr. Cooper acquisition, the combined servicing portfolio is expected to near 10 million clients.

Here's a look at the key activity metrics defining these customer segments as of the third quarter of 2025:

Customer Activity Metric	Value (Q3 2025)	Context
Closed Loan Origination Volume	$32.4 billion	Year-over-year increase of 14%
Net Mortgage Rate Lock Volume	$35.8 billion	Year-over-year increase of 20%
Servicing Portfolio Size (UPB)	Approaching $1.7 billion (Annualized Fee Income)	As of Q3 2025, up from $1.6 billion annualized fee income in Q2 2025
Partner Network (TPO) Sold Volume	Not explicitly stated for Q3 2025	Q1 2025 volume was $9.2 billion
AI Conversion Lift	~10%	Driven by new AI agents in Q3 2025

The customer base is segmented operationally into the Direct to Consumer channel and the Partner Network channel. The Partner Network, which includes the broker channel, is a source of purchase volume.

• US Homebuyers: Strongest purchase quarter in over three years (Q3 2025).
• Existing Homeowners: Home equity loan volume more than doubled in 2024.
• Tech-Savvy Users: AI tools increased conversion lift by ~10% in Q3 2025.
• Real Estate Clients: Redfin integration completed July 2025.
• Financial Wellness Users: Servicing portfolio recapture rate is 85%.

Finance: draft 13-week cash view by Friday.

Rocket Companies, Inc. (RKT) - Canvas Business Model: Cost Structure

The Cost Structure for Rocket Companies, Inc. reflects the significant operational scale following major acquisitions and the ongoing investment in its technology platform. The third quarter of 2025 saw total expenses land at $1.789 billion.

The cost base is heavily influenced by the integration of recent transactions, which adds both fixed and variable components. For context, the Q3 2025 figure represented an increase of $450 million from the second quarter, driven by the inclusion of Redfin's expense base, higher variable costs tied to increased production volume, and approximately $90 million in one-time costs during Q3.

The forward-looking expense guidance for the fourth quarter of 2025 illustrates the immediate impact of these integrations, with total consolidated expenses projected around $2.300 billion. This projection includes specific non-operational charges:

• Projected one-time transaction-related costs embedded in Q4 guidance: $140 million.
• Projected new amortization of intangible assets from acquisitions: $120 million.

Excluding these items, the underlying operating expenses for the fourth quarter are expected to be roughly $2 billion.

Loan Origination and Servicing Costs

A major component of the cost structure involves financing activities, particularly interest expense related to debt and servicing assets. The expense guidance for Q4 2025 specifically includes an estimated interest expense of $215 million, tied to unsecured debt and Mortgage Servicing Rights (MSR) facilities.

Cost Component Context	Q3 2025 Actual / Q4 2025 Projection	Notes
Total Expenses (Q3 2025)	$1.789 billion	Reported for the third quarter ended September 30, 2025.
Underlying Expenses (Q4 2025 Projection)	Roughly $2 billion	Excluding one-time costs and amortization.
Projected Interest Expense (Q4 2025)	$215 million	Related to unsecured debt and MSR facilities.
Acquisition/Restructuring One-Time Costs (Q3 2025)	Roughly $90 million	Factor contributing to the Q3 expense increase.

Personnel Costs and Operational Efficiency

While specific dollar amounts for personnel costs-covering mortgage bankers, engineers, and support staff-are not explicitly itemized in the top-line expense figures provided, the cost management strategy heavily relies on technology deployment to offset headcount needs and increase output per employee. The integration with Mr. Cooper is expected to yield significant cost reductions.

• Projected total expense synergies from Mr. Cooper integration: Approximately $400 million annually.
• AI agentic tools reduced purchase agreement review time by 80%.
• AI automation saved over 150,000 team hours annually.

Technology Development and Maintenance (AI Platforms)

Investment in technology is a key driver of efficiency, directly impacting personnel and origination costs. The deployment of AI platforms is a core strategy to manage the cost structure while scaling operations, as evidenced by the efficiency gains noted above. The company is building a vertically integrated homeownership platform for the AI era.

Marketing and Brand Advertising Expenses

Marketing costs are implicitly tied to driving volume, which saw net rate lock volume reach $36 billion in Q3 2025, up 26% quarter-over-quarter. The integration with Redfin is a key driver of lower client acquisition costs, as the Redfin mortgage attach rate increased from 27% to nearly 40%.

Rocket Companies, Inc. (RKT) - Canvas Business Model: Revenue Streams

You're looking at how Rocket Companies, Inc. converts its platform activity into dollars, which is key to understanding its valuation, especially when the mortgage origination market is choppy. The business model is clearly shifting toward a more integrated, platform-based revenue mix, which is a smart move when interest rates dictate loan volume swings.

The primary engine for immediate cash flow remains the origination and sale of mortgages, but the recurring and ancillary services are becoming increasingly important for stability. As of late 2025, the company reported a strong quarter, showing momentum from its recent strategic integrations.

Gain on sale of mortgage loans is the immediate profit taken when a loan originated on the platform is sold into the secondary market. For the third quarter of 2025, the Gain-on-Sale margin was 2.80%. This margin is critical because it shows the profitability of the core lending activity independent of volume fluctuations.

The push for recurring revenue is evident in the Recurring mortgage servicing fee income from the MSR portfolio. Following the acquisition of Mr. Cooper, the servicing portfolio unpaid principal balance (UPB) stood at $613 billion, encompassing approximately 2.9 million loans as of September 30, 2025. This portfolio is expected to generate approximately $1.7 billion of recurring servicing fee income on an annualized basis.

The integration with Redfin is directly impacting the Real estate commissions and title/settlement service fees (Rocket Close) stream. The mortgage attach rate for Redfin clients climbed from 27% to nearly 40% in Q3 2025, indicating a growing volume flowing through the ancillary services like title and closing, which fall under the Amrock umbrella.

The personal finance segment, Rocket Loans, contributes through Interest income from retained loans and personal loans. For Q3 2025, the reported Net Interest Income (NII), which captures this, was $35.68 million, significantly beating analyst estimates.

The overall performance for the period is best summarized by the top-line adjusted figure. Q3 2025 adjusted revenue was $1.78 billion, with the more precise reported figure being $1.783 billion, which exceeded the high end of guidance.

Here's a breakdown of the key components contributing to the overall revenue picture for Q3 2025, using the most granular data available:

Revenue Stream Component	Q3 2025 Financial Metric	Amount
Adjusted Revenue (Total)	Total Adjusted Revenue	$1,783 million
Gain on Sale of Loans, Net	Net Gain on Sale (in thousands)	$1,027,413 thousand
Mortgage Servicing Fee Income	Quarterly Servicing Fee Income (in thousands)	$413,138 thousand
Mortgage Servicing Fee Income	Annualized Recurring Servicing Fee Income	Approximately $1.7 billion
Interest Income (Net)	Net Interest Income (Rocket Loans/Retained Loans)	$35.68 million
Other Income (Proxy for Real Estate/Title Fees)	Total Other Income (in thousands)	$608,654 thousand

You can see the platform effect when you look at the segment contributions, showing where the activity is translating into profit contribution:

• Direct to Consumer (DTC) Adjusted Revenue (Q3 2025): $1,153 million.
• Direct to Consumer (DTC) Contribution Margin (Q3 2025): $469 million.
• Partner Network Adjusted Revenue (Q3 2025): $168 million.
• Partner Network Contribution Margin (Q3 2025): $96 million.

Finance: draft 13-week cash view by Friday.