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Rocket Companies Acquires Mr. Cooper Group in $9.4 Billion All-Stock Deal

The acquisition will expand Rocket’s mortgage servicing portfolio to $2.1 trillion, representing one in six U.S. mortgages, and follows its recent $1.75 billion purchase of Redfin.

FILE - A for sale sign stands outside a single-family home Thursday, June 27, 2024, in Englewood, Colo. (AP Photo/David Zalubowski, File)
Screens display the logos of Rocket Companies (RKT), the parent company of Rocket Mortgage and Quicken Loans, in Times Square during the company's IPO on the New York Stock Exchange (NYSE) in New York City, New York, U.S., August 6, 2020.
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Overview

  • Rocket Companies announced its $9.4 billion all-stock acquisition of Mr. Cooper Group, adding nearly 7 million clients and increasing its servicing portfolio to $2.1 trillion.
  • The deal, expected to close in Q4 2025, will see Mr. Cooper CEO Jay Bray take over as CEO of Rocket Mortgage, reporting to Rocket Companies CEO Varun Krishna.
  • Mr. Cooper shareholders will receive 11 Rocket shares per share owned and a $2 per share dividend before the deal's completion.
  • Rocket expects the acquisition to generate $100 million in additional pre-tax revenue and save $400 million annually through operational efficiencies.
  • This marks Rocket's second major acquisition in March 2025, following its $1.75 billion purchase of real estate platform Redfin to create an AI-powered end-to-end homeownership platform.