Rocket Cos. Inc. in Detroit has reported third-quarter 2026 revenue of $2.28 billion, up from $1.69 billion during the same period a year ago. That gives Rocket a revenue total of $9 billion for the year, up from $4.2 billion in 2025.
“Rocket gained market share in both purchase and refinance, quarter over quarter and year over year, and delivered our highest profitability margin in nearly five years, even as mortgage rates climbed to a three-year high,” says Varun Krishna, CEO and director of Rocket Cos.
The $3.28 billion in revenue resulted in total adjusted revenue of $2.57 billion and GAAP net income of $709 million and adjusted net income of $419 million. The company delivered adjusted EBITDA of $748 million in the quarter.
Highlights from Rocket’s Q3 report include:
- Excluding correspondent, generated $30.4 billion in net rate lock volume and $33.5 billion in closed mortgage loan origination volume. Direct to Consumer generated $22.1 billion in net rate lock volume and $24.6 billion in closed mortgage loan origination volume. Rocket Pro generated $8.2 billion in net rate lock volume and $9.0 billion in closed mortgage loan origination volume.
- Excluding correspondent, gain on sale margin was 3.33 percent. Direct to Consumer gain on sale margin was 4.31%. Rocket Pro gain on sale margin was 0.70 percent.
- Generated $40.4 billion in total net rate lock volume and $43.6 billion in total closed mortgage loan origination volume. Total gain on sale margin was 2.54 percent. Correspondent generated $10 billion in net rate lock volume and $10.1 billion in closed mortgage loan origination volume. Correspondent gain on sale margin was 0.15 percent.
- Total liquidity was $11.4 billion as of Sept. 30, which includes $2.7 billion of cash and cash equivalents on the balance sheet, $2.5 billion of undrawn lines of credit, and $6.2 billion of undrawn available MSR and advance lines of credit.
- Total servicing portfolio unpaid principal balance was $2 trillion or 9.1 million loans serviced as of Sept. 30, reinforcing the potential to drive significant recapture opportunity from the industry’s largest portfolio. During Q3 2026, Mortgage servicing rights sales totaled $23 billion of UPB, generating $379 million of cash proceeds. We retained subservicing and recapture services on nearly 70 percent of the MSRs sold.
“We didn’t spend the last three years waiting for rates to fall. We acquired distribution, connected real estate and mortgage, and invested heavily in technology,” Krishna says. “We changed the economics of our business. Rates went up. We took share. Profits grew. That’s not a coincidence.”
For Q4 2026, Rocket expects adjusted revenue between $2.1 billion to $2.3 billion.
