Its tech capabilities also quickly expanded during this time. Over the next few years, the company closed all its brick-and-mortar branches and fully embraced the centralized model of an online-only lender. The next year, Rock Financial launched, a website to connect with its clients directly – making it one of the first mortgage companies to do so. In 1998, Dan Gilbert sent a now famous all-company email challenging team members to embrace the internet as a way to disrupt the mortgage process by putting the entire home loan experience online. After that reimagining of the mortgage application, a true transformation came two years later. An early innovation came in 1996 when the company tried mailing all the mortgage documents directly to clients through the then-cutting edge “Mortgage in a Box,” so clients could complete the application from the comfort of their home.
Dan always had a goal of making mortgages easier for his clients. Rocket Mortgage was founded by Dan Gilbert in 1985 as Rock Financial, a regional branch-based mortgage broker in metro Detroit. The company has a long history of evolving in-step with technological advancements. With this official name change, we will have a consistent brand that is synonymous with innovation and excellence.” “Rocket Mortgage has grown to be the industry leader and the measuring stick for all other lenders. Since then, we developed proprietary technology to improve every piece of the process but we officially revolutionized the mortgage industry when we launched Rocket Mortgage in 2015,” said Jay Farner, Rocket Mortgage CEO. “More than 20 years ago, Dan Gilbert, our founder and chairman, had a vision of putting the entire mortgage process online to simplify the lending experience and add more transparency. This change will bring alignment to the overall “Rocket” brand, while also making it clear to homebuyers that technology, a core tenet of Rocket Companies, is injected throughout the entire homebuying lifecycle – from home search to mortgage closing. The ‘Rocket’ name is synonymous with simplifying traditionally complex transactions to make processes easier for consumersĭETROIT, May 12, 2021 – Quicken Loans, America’s largest mortgage lender and a part of Rocket Companies (NYSE: RKT), today announced it will officially change its name to Rocket Mortgage on July 31.
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