Rocket Companies’ mortgage wholesale wholesale division has set up a national mortgage broker directory on their website, offering potential mortgage broker guidance, as well as nudging off its biggest rival, United Wholesale Mortgage.
« The directory includes not just the 43,000 individual loan officers who work with us, but every mortgage broker in the country, » said Austin Niemiec, executive vice president of Rocket Pro TPO. “This new resource is not about us. It’s about giving consumers more choice and making sure they know how an independent loan officer in their community can help them.
“Brokers are now featured on one of the most popular mortgage websites in the country. Whenever Americans see the Rocket Mortgage brand during an NFL game, on HGTV, or while watching eSports, it can lead them to their local mortgage professional, ”said Niemiec.
The invitation to consumers to use a mortgage broker is at the top of the Rocket Mortgage home page with the message, “Connect with a mortgage broker in your community. A mortgage broker can be your trusted guide in your area. They can really get to know them and tailor loan options to suit your needs. «
Rocket, the second largest wholesale lender in America and the largest lender overall, says its main website attracts over 115 million visitors annually and will be a source of free leads for thousands of mortgage brokers, whether they use Rocket products or not. There are roughly 14,000 brokers in the directory, a spokesman said. Earlier this year, the company announced it had issued up to 10,000 new leads to brokers.
How to find property owners ready to sell
In today’s low inventory environment made difficult by external factors such as forbearance and foreclosure moratoriums, it is critical for real estate agents and brokers to be proactive in growing their business.
According to Niemiec, Rocket Pro TPO has found even more new ways to drive business with its broker partners.
“So we looked at all of the options and said, ‘We have RocketMortgage.com and over 10 million Americans visit the site every month. And not everyone likes to do a loan differently, ”said Niemiec in an interview.
“Consumers love optionality. We knew there was something special about giving them the opportunity to connect with their broker in the area and that we could do that as partners and great Americans looking to get a loan locally in their area Experience, ”he said.
Almost every agent in America is on this list, according to Niemiec.
« And that’s because the majority of brokers work with Rocket Pro TPO, » he said. « And if not, we add more than 300 new brokers to our platform every month. So we believe the majority of mortgage brokers in America are partners with Rocket Mortgage, Rocket Pro TPO. So we decided to get everyone involved. «
There is a segment of the mortgage broker world that does not work with Rocket as it competes with brokers through other channels, which is through dealing directly with consumers. Niemiec said all brokers would benefit from the directory.
“The majority of people who go to Rocket Mortgage.com, whether they have a directory or not, go to RocketMortgage.com, which is the busiest mortgage website in the country,” he said. « By putting our partners first and giving people the opportunity to connect with them, it’s all additive business. » It’s not a competition but an additive business that gives our brokers the ability to reach out to these customers when they didn’t have it anyway. «
When asked how it differs from FindAMortgageBroker.com from UWM, which was launched a few years ago, Niemiec pointed to scalability.
“There is simply a lot more pedestrian traffic, a lot more. There are 100 million consumers who go to RocketMortgage.com whether they see a commercial or an advertisement or a radio, ”he said. « I don’t have numbers, but I imagine [RocketMortgage.com] has 50 to 100 times more traffic than other platforms out there. » But that’s great – it’s great that they have a platform, we have a platform. It is only more options for Americans to choose how to get a mortgage. «
What does Quicken Loans Affiliate Pay?
Quicken Loans’ affiliate program pays an average of $ 5 to $ 15 in commissions per qualified lead. The Quicken Loans program uses both CPA and CPO payment methods, real-time statistics, and a low withdrawal threshold of $ 50. Payments are sent monthly.
Are Quicken Loans a Good Lender?
Quicken Loans was rated five out of five in the 2019 US Primary Mortgage Satisfaction Survey. The lender has an A + rating from the Better Business Bureau. In 2019, the Bureau of Consumer Financial Protection received 313 mortgage complaints about Quicken Loans.
Is Quicken Loans the Biggest Mortgage Lender?
Quicken Loans Inc., based in Detroit, is the country’s largest mortgage lender. The company closed nearly half a trillion dollars in mortgage volume in all 50 states from 2013 to 2018.
Is Quicken Loans and Rocket Mortgage the Same Company?
Rocket Mortgage was launched in 2015 as the face of Quicken Loans’ online mortgage application. It’s now largely integrated with Quicken and has the same drawing standards. The main attraction of Rocket Mortgage is that the entire mortgage process can take place online.
How long does it take to get a rocket mortgage approved?
It usually takes about a week to get your mortgage pre-approval after you apply and you will spend about 3 months looking at properties. Depending on your local real estate market, it can take anywhere from 1 to 2 months to negotiate an offer with the seller.
Which is Better Lending Tree or Quicken Loans?
Customer reviews As of October 2020, LendingTree has a rating of 4.5 out of 5 based on almost 8,500 reviews on Trustpilot. … Quicken Loans is accredited by the Better Business Bureau (BBB) and has 3.67 out of 5 stars as of November 2020, based on 1,930 customer reviews.
Are Quicken Loans Better Than A Bank?
Over the past few years, online lender Quicken Loans has become known for its convenience and strong customer service. If face-to-face meeting with lenders is important to you, a local bank with a good reputation is a good choice. Local banks may also have better interest rates or lower fees than online options.
Who is the rocket mortgage associated with?
Rocket Mortgage® is an online mortgage experience developed by Quicken Loans®, America’s largest mortgage lender.
What is the minimum credit rating for rocket mortgage?
If you can pay a 10% down payment, your credit score can be in the 500 to 579 range. Rocket Mortgage® requires a minimum loan value of 580 for FHA loans. A mortgage calculator can help you estimate your monthly payments and you can see how your down payment amount affects them.
Is Rocket Mortgage a Good Lender?
They are also – as Quicken points out on his website – the second largest FHA and VA loan originators. Both Rocket mortgage rates and Quicken rates tend to be slightly above the industry average. However, it is hard to beat the quality and ease of Rocket’s online mortgage process.
Who Has the Best Mortgage Rate?
These lenders topped the list of the best 30-year mortgage rates:
- USAA – Best Mortgage Rates and Fees Combined (Military Only)
- Bank of America – Lowest Average Rate (Bank)
- Guaranteed Interest Rate – Lowest Average Rate (Non-Bank)
Is It Difficult to Get a Rocket Mortgage Approval?
You need a FICO credit score of at least 620 points to be eligible for most types of loans. … All you need is a 580 credit score to qualify for an FHA loan with Rocket Mortgage®.
What FICO Score Do I Need To Buy A Home?
You must have a FICO credit score of at least 500 to qualify for a Federal Housing Administration (FHA) FHA loan. However, other programs may require a score of 620 or higher.
What creditworthiness do you need to get a mortgage?
A credit score of 620 or higher should enable you to qualify for a mortgage, but government-sponsored loans may allow lower scores.
What’s the Easiest Mortgage to Qualify?
Government-sponsored mortgages include: FHA Loans: The Federal Ministry of Housing and Urban Development (HUD) manages a mortgage insurance program operated by the Federal Housing Administration. FHA loans are some of the easiest mortgages to qualify, especially since the down payment requirements are only 3.5%.