Officially, it’s known as “Rocket Mortgage by Quicken Loans.” But the fine print says the lending services are provided by Quicken Loans Inc., a subsidiary of Rock Holdings Inc. Instead of faxing/printing/uploading documents slowly.Allows customers to import financial information into the loan application.One of the largest mortgage lenders in the nation.A streamlined home loan approval process offered by Quicken Loans.Of course, all that spending has to be recouped somewhere. So clearly they’re doing plenty to get the word out on the marketing front. It is the first ever PGA Tour event to be held in the city of Detroit. Lastly, the inaugural “Rocket Mortgage Classic” will take place in late June each year at Detroit Golf Club.
This is part of the “2018 Detroit Lions Training Camp presented by Rocket Mortgage” sponsorship deal.Īnd they will continue to be the official mortgage lender of the Detroit Lions during the regular NFL season. So it’s clear who their target market is.Īdditionally, their logo will feature on the Detroit Lions practice jersey during the 2018 preseason.
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Their product recently appeared in the movie Avengers: Infinity War. And will display in-stadium signage at Rams home games. They also became an Official Mortgage Partner of the Los Angeles Rams. Their logo will appear on the team’s shorts. It is a virtual Esports team owned by the Cleveland Cavaliers. Rocket Mortgage also recently became a sponsor for NBA 2K League team Cavs Legion. And got there thanks to their technology. But they are the nation’s largest mortgage lender. Quicken Loans claims it took more than 500 Detroit-based developers and various other employees some three years “to completely redesign the highly complex mortgage process.”
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It basically describes any financial company harnessing the power of the Internet to conduct business more efficiently. Short for financial technology, “FinTech” is the latest buzzword taking Silicon Valley by storm. Quicken seems to have taken notice with their latest move, referring to themselves in the press release as the nation’s “leading FinTech mortgage lender.” Most of the startups above consider themselves online mortgage lenders that cut out the middleman (the loan officer), while promising to make home buying or refinancing a lot easier than it has traditionally been. The nascent space is still in its infancy, but there are already multiple players Quicken needs to keep its eye on, including the likes of Better Mortgage, Lenda, Sindeo, SoFi, LendingHome, and many others, some of which are popular with Millennials thanks to offerings like student loan refinances and the like.
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Do you know how long it takes for the space shuttle to reach orbit? Apparently it takes just eight minutes, the same amount of time it will take borrowers to get a full mortgage approval online via “ Rocket Mortgage.”Īt least, this is the powerful claim the company is touting via a new online mortgage approval engine that promises to shake up the age-old, and very stale home loan process.
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