Rocket Companies Launches AI-Powered Homeownership Platform Rocket.com

Rocket Companies debuts integrated homeownership platform By Investing.com

DETROIT - Rocket Companies (NYSE: RKT), a leading fintech platform currently valued at $23.9 billion, has launched Rocket.com, a new website aimed at streamlining the homeownership process. The site combines property search, financing, and management tools to create a one-stop solution for homebuyers and sellers, leveraging artificial intelligence (AI) to enhance the customer experience. According to InvestingPro data, the company has shown strong revenue growth of ~14% over the last twelve months, despite challenging market conditions. Rocket.com is designed to address the challenges faced by consumers in the current housing market, which is marked by limited inventory and affordability concerns. Unlike traditional home search platforms that focus primarily on property listings, Rocket.com provides an integrated experience where users can browse homes, receive personalized financing options, and connect with Rocket bankers with just a few clicks. Jamie Belsky, Chief Product and Design Officer at Rocket, emphasized that Rocket.com is tailored for serious buyers and sellers, offering a more accessible path to homeownership. The platform's AI Agent, a digital homeownership assistant, offers 24/7 support, answers questions, and keeps users informed about market trends. It also facilitates tasks like application completion and connects users with Rocket bankers. Since its inception, the AI Agent has significantly increased the company's conversion rate from website visits to loan closings, a testament to the tool's effectiveness in providing consumer support. Rocket.com also promises to deliver instant offers, AI-powered financing, and Verified Approval Letters to instill confidence in clients and expedite the home buying process. InvestingPro analysis suggests the company is currently undervalued, with analysts setting price targets up to $18 per share. InvestingPro subscribers can access 8 additional key insights about Rocket Companies' financial health and growth prospects. In the near future, homeowners will be able to use Rocket.com to monitor viewing activity for their properties and access sales data to make informed selling decisions. Additionally, those with mortgages serviced by Rocket will be able to manage their loans through the platform, further simplifying the homeownership lifecycle. Rocket Companies, founded in 1985, encompasses a variety of fintech services including Rocket Mortgage, Rocket Homes, and Rocket Loans. The company is recognized for its commitment to customer satisfaction, having been ranked #1 by J.D. Power in client satisfaction for mortgage origination and servicing multiple times. While the company maintains a strong current ratio of 6.35, indicating solid liquidity, InvestingPro's comprehensive analysis reveals both challenges and opportunities ahead. Discover the complete financial story with InvestingPro's exclusive Research Report, available for over 1,400 US stocks including Rocket Companies. Today's announcement marks a significant step for Rocket Companies in its mission to facilitate the homeownership journey. The information for this article is based on a press release statement from Rocket Companies. In other recent news, Rocket Companies reported a 32% year-over-year increase in adjusted revenue in the third quarter, reaching $1.323 billion. The company also unveiled a comprehensive brand refresh, which includes the acquisition of Rocket.com and the introduction of a new logo, wordmark, typeface, and color palette. Furthermore, Rocket Companies made significant amendments to its credit agreements with Morgan Stanley (NYSE:MS) and Citibank, extending their expiration dates and increasing their facility amounts. This strategic move boosts Rocket Companies' total funding capacity to $27.0 billion. On the analyst front, Keefe, Bruyette & Woods downgraded Rocket Companies shares to Underperform, citing concerns about the impact of current mortgage rates on the company's earnings. However, BofA Securities upgraded the company's shares to Neutral, while Piper Sandler maintained a Neutral rating but reduced its price target. In addition to these financial developments, Rocket Mortgage, a subsidiary of Rocket Companies, filed a lawsuit against the US Department of Housing and Urban Development (NSE:HUDC) over an appraiser independence issue. These are recent developments and should be considered by investors.

Rocket Launches Rocket.com Website with Integrated Search, Financing and Management Tools - Rocket Companies (NYSE:RKT)

Rocket Companies unites and streamlines the end-to-end homeownership process with Rocket Mortgage and Rocket Homes DETROIT, Jan. 22, 2025 /PRNewswire/ -- Rocket Companies RKT, the Detroit-based fintech platform company consisting of mortgage, real estate and personal finance businesses, today announced the launch of Rocket.com. Rocket.com empowers consumers to search, purchase and manage their home financing with an intuitive, AI-driven experience, simplifying every step of the homeownership journey. With today's limited housing inventory and affordability concerns, Rocket.com simplifies the path to homeownership and offers consumers a one-stop solution. Traditional home search platforms often focus solely on property browsing, leaving buyers without the necessary guidance or actionable options once they are ready to move forward. Rocket.com improves this by bringing home search, financing and servicing together in one intuitive platform. Clients can easily explore properties and receive personalized financing options from a Rocket banker - all in just a few clicks. "Rocket.com is designed for serious buyers and sellers, offering a streamlined path to homeownership," said Jamie Belsky, Chief Product and Design Officer at Rocket. "The platform combines Rocket Mortgage's award-winning service with Rocket Homes' search and deep property insights. By leveraging AI technology, we are making buying a home more accessible and achievable for everyone." At the heart of the site is Rocket's AI Agent, the ultimate homeownership assistant. It provides 24/7 support, answers real estate and mortgage questions and keeps clients and real estate agents informed about interest rates and market trends. In addition, the AI Agent streamlines tasks such as filling out applications, connecting users with Rocket bankers and offering guidance throughout the process. Since its launch, this tool has tripled Rocket's conversion rate from website visits to loan closings, validating the confidence and support it gives consumers every step of the way. "Rocket.com is a significant milestone for the company and the future of homeownership," Belsky continued. "With this intuitive platform, we will remove traditional barriers for homebuyers through instant offers, AI-powered financing and Verified Approval Letters. We want to create a process that empowers clients with confidence, making it faster and easier for them to achieve their dream of owning a home." Today's launch is the start for Rocket.com. Homeowners will soon be able to track viewing activity for their homes - whether on or off the market - and access comparable sales data to decide the best time to sell, all powered by Rocket AI. Homeowners serviced by Rocket can use Rocket.com as a central hub for managing mortgages and streamlining the entire homeownership process from click to close. Visit Rocket.com to explore homes in your area and see how Rocket is leveraging AI to expand the path to homeownership. Some of the statements contained in this document are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are generally identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this document and are based on our management's current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled "Risk Factors" in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission ("SEC"). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in our SEC filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. About Rocket Companies Founded in 1985, Rocket Companies RKT is a Detroit-based fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Rocket Homes, Rocket Close, Rocket Money and Rocket Loans. With more than 65 million call logs each year, 10 petabytes of data and a mission to Help Everyone Home, Rocket Companies is well positioned to be the destination for AI-fueled homeownership. Known for providing exceptional client experiences, J.D. Power has ranked Rocket Mortgage #1 in client satisfaction for primary mortgage origination and mortgage servicing a total of 22 times - the most of any mortgage lender. For more information, please visit our Corporate Website or Investor Relations Website. View original content to download multimedia:https://www.prnewswire.com/news-releases/rocket-launches-rocketcom-website-with-integrated-search-financing-and-management-tools-302357364.html SOURCE Rocket Companies RKTRocket Companies Inc$11.90-0.55%WatchlistOverviewMarket News and Data brought to you by Benzinga APIs