Rocket Mortgage announced it is ceasing its lending operations in Canada, reassuring clients that loans in process will not be affected. The firm thanked its Canadian employees for their contributions over the past five years and mentioned that severance packages would be offered, including health coverage and career support. Amid these changes, Rocket has recently undergone a rebranding of its subsidiaries. Additionally, a lawsuit against Rocket Homes was dismissed, preventing claims about alleged referral incentives from being brought forth again.
We want to assure our clients that all loans in process will proceed without issue, and we remain committed to supporting them through this transition.
While this means stepping away from our lending business in Canada, we thank our team members who have helped us expand over the last five years.
Some employees may have opportunities at Rocket's remaining Canadian businesses, according to a report from CBC News.
The lawsuit accused Rocket Homes of steering clients toward Rocket Mortgage and affiliated settlement services provider Amrock in exchange for referrals and preferential treatment.
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