Quicken Loans, a part of Rocket Companies, recently announced it will officially change its name to Rocket Mortgage on July 31.
According to the company, this change will “bring alignment to the overall ‘Rocket’ brand, while also making it clear to homebuyers that technology, a core tenet of Rocket Companies, is injected throughout the entire home-buying lifecycle—from home search to mortgage closing.”
“More than 20 years ago, Dan Gilbert, our founder and chairman, had a vision of putting the entire mortgage process online to simplify the lending experience and add more transparency. Since then, we developed proprietary technology to improve every piece of the process, but we officially revolutionized the mortgage industry when we launched Rocket Mortgage in 2015,” said Jay Farner, Rocket Mortgage CEO. “Rocket Mortgage has grown to be the industry leader and the measuring stick for all other lenders. With this official name change, we will have a consistent brand that is synonymous with innovation and excellence.”
The company says clients will not see any difference to the digital experience they normally receive. Those who are in the mortgage process at the time of the change will not be affected. The only difference current clients will experience is documents, letters and other communications that previously were labeled “Quicken Loans” will instead come from “Rocket Mortgage.”
Several of Rocket Mortgage’s sister companies already feature the Rocket name, including Rocket Homes, Rocket Auto and Rocket Loans.
Rocket Mortgage was founded by Dan Gilbert in 1985 as Rock Financial, a regional branch-based mortgage broker in metro Detroit. In 1999, Rock Financial launched Rockloans.com, a website to connect with its clients directly. Over the next few years, the company closed all its brick-and-mortar branches and fully embraced the centralized model of an online-only lender. Quicken Loans then implemented the ability for clients to e-sign mortgage documents in 2002 and launched the first mobile app from a home lender in 2011, according to the company. In late 2015, Quicken Loans launched a fully digital, completely online, mortgage experience—Rocket Mortgage. This was the first time a consumer could go from application to closing on their own, without speaking to a human, according to the company.
For more information, please visit www.quickenloans.com