Quicken Loans Mortgage Services in Detroit, a mortgage lender serving brokers, community banks, and credit unions, today announced a complete rebranding program that will be completed by December. The new name will coincide with new technologies and services.
QLMS will become Rocket Pro TPO (TPO representing “third party origination”) to better align with Rocket Mortgage, which itself was rebranded. Both enterprises are part of Rocket Cos. Inc., which went public over the summer (formerly Quicken Loans Inc.), and is majority owned by Dan Gilbert.
The move to Rocket Pro TPO gives the company’s partners the opportunity to leverage the equity of a trusted name in personal finance while accessing a new suite of new technologies.
“We know brokers want cutting edge technology, marketing support, and more referrals. QLMS is now aligning with the Rocket brand – the most recognizable mortgage brand in the country – and giving partners the ability to use it in their marketing to assist more Americans,” says Austin Niemiec, executive vice president of the future Rocket Pro TPO. “We have spent billions of dollars in the development and marketing of the Rocket platform, which we are now delivering directly to brokers to leverage and grow their business.”
Partners will have exclusive access to Rocket’s technology. The lender is building a new white-labeled, broker-branded origination hub which will provide seamless e-signature technology, visibility into loan status, and the ability for applicants to directly upload loan documents.
Additionally, partners can leverage the Rocket Mortgage name through co-branding, as well as tie into leads generated by national and local advertising programs. With that backdrop, brokers can capitalize on the $5 billion Rocket Mortgage has spent on marketing since its inception – making it clear to their clients they have the power of Rocket with the expertise and local knowledge of a broker. The services will be available to all approved partners free-of-charge.
Rocket Pro TPO also partnered with Google to create and unveil PathFinder, which is the integration and reimagination of many of its most popular tools into one centralized location. It combines popular resources like Guru, a search engine for mortgage origination; and The Answer, an award-winning tech tool powered by Google search which provides solutions to all mortgage guideline questions, into a new technology to put the power of thousands of underwriters into every broker’s office.
Since every second counts for the broker community, Rocket Pro TPO added additional features to PathFinder which are solely focused on decreasing the amount of time partners spend searching for answers to various complexities throughout the mortgage process. This includes a BPMI calculator, Title Gadget – to help partners find all their title needs in mere seconds – and much more.
“Rocket Mortgage has truly set itself apart from the rest of the industry because we have taken an incredibly difficult and labor-intensive process and distilled it into a simple technology platform that allows clients – and now our partners – to have unmatched visibility and communication,” says Bob Walters, president and COO of Rocket Mortgage. “As we continued to grow and evolve our business, we always looked forward to the day when we could extend its reach to our broker partners, who play such an important role in helping clients achieve the American Dream of homeownership.”
Rocket Pro TPO is celebrating this new chapter by doubling down on its commitment to its partners. To start, the company will be sharing 10,000 purchase leads with its network as well as a new ecosystem of lead sharing that will continue to develop over time.
In addition to increased access to marketing materials, a co-branded experience for borrowers, and new technology, the lender has also created its exclusive Rocket Pro Referral network. The platform connects partners to a new network where they can build relationships, look for opportunities, and obtain leads.
The offering encourages consumer-facing influencers to submit a client’s information and send it to their preferred loan originator to complete the mortgage process. Through Rocket Pro Referral, real estate agents will be able to maintain visibility into their clients’ loans, and mortgage brokers will receive more ready-to-transact borrowers referred to them on a platform that streamlines the origination process.
Launched in 2010, QLMS offers a streamlined on-boarding process that allows loan officers to begin originating mortgages in as few as 24 hours after application.
Rocket Pro TPO’s network includes more than 40,000 loan officers. In the second quarter of 2020, Rocket Mortgage’s Partner Channel, which includes Rocket Pro TPO, increased its annual revenue by more than 500 percent, the company states. The lender currently has 1,100 open positions for national account executives, underwriters, and more. To apply, visit www.myrocketcareer.com.