Rocket Companies, a Detroit-based fintech firm, is acquiring Mr. Cooper Group Inc. in an all-stock transaction valued at approximately $9.4 billion. This acquisition follows Rocket's recent purchase of Redfin for $1.75 billion, marking its ambition to become a comprehensive real estate platform. With the addition of Mr. Cooper, Rocket will acquire seven million clients and aims to enhance its mortgage services by providing an integrated homeownership experience powered by advanced technology. The deal has received unanimous board approval and is slated to close in late 2025, pending shareholder and regulatory approval.
"By combining Mr. Cooper and Rocket, we will form the strongest mortgage company in the industry, offering an end-to-end homeownership experience backed by leading technology and grounded in customer care," said Jay Bray, Mr. Cooper Group Chairman and CEO.
"Servicing is a critical pillar of homeownership - alongside home search and mortgage origination," said Varun Krishna, Rocket CEO. "With the right data and AI infrastructure, we will deliver the right products at the right time."
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