On March 31, 2025, Rocket Companies announced its acquisition of Mr. Cooper in a deal valued at $9.4 billion. This transaction, which includes a $1.75 billion purchase of Redfin, positions Rocket as a significant player in the mortgage servicing industry, with a combined servicing book of $2.1 trillion covering nearly 10 million clients.
- Rocket acquires Mr. Cooper for $1.75 billion
- Combined servicing book totals $2.1 trillion
- Expected $100 million in additional pre-tax revenue
- Projected $400 million in pre-tax cost savings
- Jay Bray becomes president and CEO of Rocket
- Deal closing anticipated in Q4 2025
This acquisition marks a pivotal moment for Rocket Companies, as it seeks to expand its influence in the fintech and mortgage sectors. With Mr. Cooper’s nearly 7 million clients, Rocket aims to leverage its advanced data and AI capabilities to enhance customer service and product offerings. The deal is anticipated to generate an additional $100 million in pre-tax revenue through improved recapture rates and the integration of title, closing, and appraisal services.
Key details of the acquisition include:
- Rocket’s equity value in the deal is $9.4 billion.
- The combined servicing book will total $2.1 trillion.
- Rocket expects $400 million in pre-tax cost savings from operational efficiencies.
Jay Bray, the current CEO of Mr. Cooper, will transition to become president and CEO of Rocket Mortgage, reporting directly to Rocket’s CEO, Varun Krishna. This leadership change is part of Rocket’s strategy to integrate Mr. Cooper’s operations and enhance its market position. The acquisition is financed through a nearly $5 billion bridge loan from JPMorgan Chase and is expected to close in the fourth quarter of 2025.
The acquisition of Mr. Cooper by Rocket Companies not only strengthens its market presence but also sets the stage for future innovations in mortgage servicing. As the deal progresses, the integration of services and client bases will be closely monitored by industry analysts.
