Listing the highlights of its performance over the year, Rocket pointed to the mortgage arm being named number one for client satisfaction by JD Power in 2021 and that its net client retention rate was 90% over the 12 months to June 30, 2021.
Notably, the Rocket Partner network saw funded loan volume jump significantly year-on-year – from $19,732 million to $30,120 million. Net revenue, however, has fallen from $783 million to $319 million.
“Our mortgage, real estate, auto and personal finance brands, powered by the tech-driven Rocket platform, delivered a strong second quarter,” said Jay Farner, vice chairman and CEO of Rocket Companies.
“Our record purchase mortgage volume puts us well on the path to our goal of becoming the largest retail home purchase lender in the nation by the end of 2023. That strong momentum will carry us into the second half of the year, as we expect our 2021 mortgage origination closed loan volume to exceed 2020’s record performance of $320 billion. Our newer businesses Rocket Homes, Rocket Auto and solar program leverage our existing platform and represent significant growth opportunities.”