Followers | 180 |
Posts | 24757 |
Boards Moderated | 16 |
Alias Born | 04/03/2002 |
![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, October 29, 2021 1:34:53 PM
October 29 2021 - 01:00PM
DETROIT, Oct. 29, 2021 /PRNewswire/ -- Rocket Mortgage, America's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), today announced a partnership with Salesforce to make the company's mortgage origination technology available to banks, credit unions and other financial institutions nationwide through Salesforce Financial Services Cloud.
Rocket Mortgage is America's largest mortgage lender. (PRNewsfoto/Rocket Mortgage)
"Today's news displays what is possible with the Rocket platform and the technology that powers it. This will be the first time a home lender will provide an end-to-end 'mortgage-as-a-service' solution through Salesforce Financial Services Cloud – a platform that thousands of financial institutions already heavily rely on," said Jay Farner, Vice Chairman and CEO of Rocket Companies. "We recognize the important and personal role local banks and credit unions play with so many Americans – they have a trusted relationship with their customers. Financial institutions can now combine those relationships they've already established, while leveraging Rocket Mortgage's transformational platform powered by Rocket technology."
The market opportunity is significant, as there are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. While some have highly specialized mortgage operations, most have disparate partners and technology vendors that handle home loans for them. Through this partnership, Rocket Mortgage plans to deploy its technology in Salesforce Financial Services Cloud regardless of how the financial institution chooses to offer mortgages, simplifying a potentially fragmented process.
This partnership builds on Rocket Companies' existing relationship as a Salesforce customer. Currently, the company leverages Salesforce Financial Services Cloud and Marketing Cloud to serve as a single source of truth for their customer data on an engagement platform, tailored to real estate and lending. Rocket Companies knows firsthand the value that integrating with Salesforce technology can provide and how it can improve the client experience.
If financial institutions have licensed mortgage loan officers they will be able to use Rocket Mortgage's technology, directly in Salesforce Financial Services Cloud, as their Point-Of-Sale (POS) and loan origination system (LOS), to provide a simple client experience to home buyers and those refinancing their mortgage. Even more importantly, financial institutions will, in many instances, be able to offer home loans without the need for underwriters, processors, compliance or closing teams since Rocket Mortgage will handle all the processing after the financial institution's loan officer advises the client on their mortgage options and helps them complete the application.
"We're incredibly proud to expand our partnership with Jay Farner and his team at Rocket Mortgage with new innovations for the financial services industry," said Marc Benioff, Chair and CEO of Salesforce. "Together, we are reimagining the mortgage experience for a digital-first and trust-first world, transforming the home buying process for thousands of financial institutions and their customers."
Financial Services Cloud helps financial institutions deliver quality service through automation, integration, intelligence and pre-built processes. This technology helps financial institutions better understand how clients interact with branches, ATMs and digital properties – giving organizations a 360-degree view of their relationships to learn how they can better assist their customers. By integrating Rocket Mortgage with Financial Services Cloud, financial institutions will have the tools to help them curate personalized client experiences without the need to staff up through the entire home loan process, from application to closing.
"The value of Financial Services Cloud aligns with the mission of Rocket Companies – to use innovative technology to build and deepen relationships with customers to help them achieve their goals faster," said Eran Agrios, SVP and GM, Financial Services at Salesforce. "This new offering from Rocket Mortgage shows how Financial Services Cloud will help reimagine mortgage-as-a-service with an application, origination and loan services experience, tailored for our financial services customers."
This new offering will enable Rocket Mortgage to increase market share while giving financial institutions flexibility in the products they offer. Rocket Mortgage plans to help make the home buying experience better for all, throughout every community, by integrating with Salesforce.
Rocket Mortgage has ranked highest in client Satisfaction for Primary Mortgage Origination by J.D. Power for 11 straight years, 2010 through 2020. A driver of that award is the company's mortgage technology, with Rocket Mortgage leading in every category that makes up the total satisfaction score.
Forward Looking Statements
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, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission. 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.
Salesforce, Financial Services Cloud and others are among the trademarks of salesforce.com, inc.
About Rocket Mortgage
Detroit-based Rocket Mortgage, a part of Rocket Companies (NYSE: RKT) and, the nation's largest home mortgage lender, enables the American Dream of homeownership and financial freedom through its obsession with innovating an industry-leading, digital-driven client experience. Rocket Mortgage closed $320 billion dollars of mortgage volume across all 50 states in 2020. In late 2015, it introduced the first fully digital, completely online mortgage experience. Currently, 99% of all home loans originated by the company utilize Rocket Mortgage technology.
Rocket Mortgage moved its headquarters to downtown Detroit in 2010. The company generates loan production from web centers located in Detroit, Cleveland and Phoenix and operates a centralized loan processing facility in Detroit. Rocket Mortgage ranked highest in the country for customer satisfaction for primary mortgage origination by J.D. Power for the past 11 consecutive years, 2010 – 2020, and also ranked highest in the country for customer satisfaction among all mortgage servicers the past eight years, 2014 – 2021.
Rocket Companies, ranked #5 on Fortune's list of the "100 Best Companies to Work For" in 2021 and has placed in the top third of the list for 18 consecutive years. The company employs 26,000 full-time team members nationwide.
For more information and company news visit http://www.RocketMortgage.com/PressRoom
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/rocket-mortgage-unveils-partnership-with-salesforce-providing-transformational-mortgage-services-to-financial-institutions-301412038.html
SOURCE Rocket Mortgage
Recent RKT News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 09:57:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/14/2024 10:02:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 09:07:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 09:41:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 10:36:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/03/2024 08:23:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 10:03:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 09:31:45 PM
- Rocket Companies CEO Varun Krishna to Present at Morgan Stanley U.S. Financials, Payments & CRE Conference • PR Newswire (US) • 05/29/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:08:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 10:05:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:17:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 09:27:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 09:23:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/09/2024 12:41:50 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 09:10:49 PM
- Rocket Companies Hires AI Innovator Shawn Malhotra as Chief Technology Officer • PR Newswire (US) • 05/06/2024 05:23:00 PM
- Rocket Companies Announces First Quarter 2024 Results • PR Newswire (US) • 05/02/2024 08:05:00 PM
- Rocket Companies Introduces Rocket Logic - Synopsis AI Tool to Analyze and Transcribe Calls, Personalizing Client Interactions • PR Newswire (US) • 04/23/2024 05:00:00 PM
- Rocket Companies to Announce First Quarter 2024 Results on May 2 • PR Newswire (US) • 04/18/2024 08:05:00 PM
- Rocket Mortgage Celebrates the Everyday Dreammate: Inspiring Fans and Bringing Dreams to Life During the NFL Draft in Detroit • PR Newswire (US) • 04/16/2024 01:00:00 PM
- Rocket Companies Introduces Rocket Logic AI Platform to Make Homeownership Faster and Easier • PR Newswire (US) • 04/09/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 10:23:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 10:10:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:55:10 PM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM