Core Viewpoint - A class action lawsuit is pending against Rocket Companies, alleging securities fraud and unlawful business practices by the company and its executives [2][3]. Summary by Relevant Sections Class Action Details - The lawsuit is on behalf of all individuals and entities that purchased Rocket Companies securities between March 29, 2021, and April 1, 2021, seeking damages for violations of federal securities laws [2]. - Investors have until July 8, 2025, to request appointment as Lead Plaintiff if they acquired Rocket securities during the specified Class Period [3]. Allegations Against Rocket Companies - The complaint alleges that Rocket's gain on sale margins were contracting at the highest rate in two years due to increased competition among mortgage lenders and a shift towards lower-margin operations [3]. - It is claimed that Rocket was engaged in a price war in the wholesale market, further compressing margins [3]. - The adverse trends were reportedly accelerating, with expectations that gain on sale margins would plummet by at least 140 basis points in the first half of 2021 [3]. - The favorable market conditions that previously allowed Rocket to achieve high gain on sale margins had disappeared, returning to levels not seen since Q1 2019 [3]. - The company's gain-on-sale margins had fallen materially below recent historical averages, contradicting prior positive statements made by the defendants about the company's operations and prospects [3].

NEW YORK, May 20, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Rocket Companies, Inc. ("Rocket Companies" or the "Company") (NYSE: RKT) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Rocket Companies investors who were adversely affected by alleged securities fraud between March 29, 2021 and April 1, 2021. Follow the link below to get more information and be contacted by a member of our team:https://www.zlk.com/pslra-1/rocket-compa ...

Core Viewpoint - The Gross Law Firm is notifying shareholders of Rocket Companies, Inc. regarding a class action lawsuit due to alleged misleading statements and failure to disclose critical financial information during a specified class period [1][2]. Summary by Sections Allegations - The complaint alleges that during the class period from March 29, 2021, to April 1, 2021, Rocket's gain on sale margins were contracting at the highest rate in two years due to increased competition among mortgage lenders and a shift towards lower margin segments [2]. - Rocket was engaged in a price war with competitors in the wholesale market, further compressing margins in its Partner Network operating segment [2]. - The adverse trends were accelerating, with gain on sale margins expected to plummet by at least 140 basis points in the first half of 2021 [2]. - Favorable market conditions that previously allowed Rocket to achieve high gain on sale margins had vanished, returning to levels not seen since Q1 2019 [2]. - Company-wide gain-on-sale margins had fallen materially below recent historical averages, contradicting prior positive statements about business operations and prospects [2]. Next Steps for Shareholders - Shareholders who purchased shares of RKT during the specified timeframe are encouraged to register for the class action by July 8, 2025, to potentially be appointed as lead plaintiffs [3]. - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [3]. About the Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit, fraud, and illegal business practices [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [4].

Core Viewpoint - A class action securities lawsuit has been filed against Rocket Companies, Inc. for alleged securities fraud affecting investors between March 29, 2021, and April 1, 2021 [1][2] Group 1: Allegations of Fraud - The lawsuit claims that Rocket's gain on sale margins were contracting at the highest rate in two years due to increased competition among mortgage lenders and unfavorable shifts in their operating segments [2] - It is alleged that Rocket was engaged in a price war with competitors, further compressing margins in its Partner Network operating segment [2] - The complaint indicates that Rocket's gain on sale margins were expected to plummet by at least 140 basis points in the first half of 2021 due to adverse trends [2] - The favorable market conditions that previously allowed Rocket to achieve high gain on sale margins had disappeared, returning to levels not seen since Q1 2019 [2] - The company's overall gain-on-sale margins had fallen significantly below recent historical averages, contradicting positive statements made by the defendants about the company's operations and prospects [2] Group 2: Legal Process and Participation - Investors who suffered losses during the specified time frame have until July 8, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require this [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3] Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4]

Core Viewpoint - A class action lawsuit has been filed against Rock Holdings, Inc. for alleged violations of federal securities laws related to the sale of Rocket Companies, Inc. stock during a specific period [1][2]. Class Definition - The lawsuit seeks damages for all individuals and entities that purchased Rocket Class A common stock between February 25, 2021, and May 5, 2021, inclusive [2]. Case Details - The Complaint alleges that on March 29, 2021, Rock Holdings, Inc. sold 20,200,000 shares of Rocket Class A common stock at $24.75 per share, totaling approximately $499.95 million, while possessing material non-public adverse information [3]. Next Steps - Investors who suffered losses in Rock Holdings, Inc. have until July 8, 2025, to request to be appointed as lead plaintiff in the case [4]. Cost Structure - The law firm represents investors on a contingency fee basis, meaning they will only seek reimbursement for expenses and fees if successful in the case [5]. Firm Background - Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm specializing in securities fraud class actions and has recovered hundreds of millions of dollars for investors [6].

NEW YORK, May 16, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Rocket Companies, Inc. ("Rocket Companies" or the "Company") (NYSE: RKT) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Rocket Companies investors who were adversely affected by alleged securities fraud between March 29, 2021 and April 1, 2021. Follow the link below to get more information and be contacted by a member of our team: https://www.zlk.com/pslra-1/rocket ...

NEW YORK, May 16, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Rocket Companies, Inc. ("Rocket Companies" or the "Company") (NYSE: RKT) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Rocket Companies investors who were adversely affected by alleged securities fraud between March 29, 2021 and April 1, 2021. Follow the link below to get more information and be contacted by a member of our team:https://www.zlk.com/pslra-1/rocket-compa ...

Summary of Rocket Companies (RKT) FY Conference Call - May 14, 2025 Company Overview - **Company**: Rocket Companies (RKT) - **Industry**: Fintech and Mortgage Industry Key Points and Arguments Investment and Growth - Rocket Companies has invested nearly **$500 million** in technology and AI over the past two years, including two recent acquisitions and a company rebranding [4][25] - The company aims to leverage technology to enhance the homeownership experience, viewing itself as a **homeownership company** rather than just a mortgage company [24] Leadership and Culture - Varun Krishna, the new leader, emphasizes a balanced leadership approach, combining fresh ideas with existing strong company culture [14][15] - Organizational engagement is reported to be high, with employees feeling a strong connection to the company's mission and future [17][18] Operational Efficiency - Compared to two years ago, Rocket is serving **21% more clients**, with turn times improved by **14%** and production team members serving **50% more clients** on average [19][20] - The company is focused on improving efficiency, personalization, and overall customer experience through innovative technology [20] AI Integration - Rocket has invested significantly in building data infrastructure and AI models, aiming for a service-driven, workflow-centric approach rather than traditional app-based engagement [26][29] - The company is exploring the integration of AI into various aspects of the homeownership process, with a focus on creating a seamless digital experience [29][30] Mergers and Acquisitions - Recent acquisitions, including Redfin and Mr. Cooper, are seen as strategic moves to create a more integrated homeownership platform, enhancing customer experience and operational efficiency [39][44] - The integration of these businesses is expected to strengthen Rocket's business model, allowing for better recapture and servicing capabilities [42][56] Market Outlook - The mortgage market is viewed as cyclical, but there is optimism about innovation and technology transforming the industry, particularly through AI and other advancements [61][62] - Rocket aims to capture **8%** of the purchase market and **20%** of the refinance market, with recent acquisitions expected to accelerate these goals [59][60] Cultural Integration - The company is taking a rigorous approach to ensure cultural alignment during the integration of acquired companies, focusing on open communication and shared values [46][50] Future Vision - Rocket Companies envisions a future where homeownership is simplified and made more accessible through technology, aiming to modernize the homeownership experience [52][64] Additional Important Insights - The mortgage industry is described as adversarial and inefficient, with Rocket aiming to build a better system for consumers [40][41] - The company believes that a strong focus on process optimization and AI will be crucial for future success [38][39] This summary encapsulates the key discussions and insights from the Rocket Companies FY Conference Call, highlighting the company's strategic direction, operational improvements, and vision for the future of homeownership.

Core Viewpoint - Citron Research is bullish on Rocket Companies (RKT), describing it as a misunderstood stock with significant potential due to recent acquisitions and its innovative use of AI in the real estate sector [1][2][3]. Company Overview - Rocket Companies is recognized for its mortgage and personal finance businesses and is seen as a "sleeping juggernaut of real estate" with vertical integration [2]. - The company is leveraging AI and data to create a dominant real estate platform, which Citron believes will thrive even in a high-interest-rate environment [2][3]. AI and Technology - Citron highlights that Rocket's proprietary AI, referred to as "Rocket Logic," is becoming integral to its operations, likening it to a combination of Salesforce, Zillow, and TurboTax for mortgages [3]. - The use of AI is expected to modernize the housing finance sector, which is currently seen as outdated and inefficient [3]. Recent Acquisitions - The acquisition of Mr. Cooper is viewed as a strategic move that enhances Rocket's scale, reach, and margin expansion, creating a synergistic effect [3][4]. - Citron also notes that Rocket's acquisitions of Mr. Cooper and Redfin have contributed to its EBITDA growth and overall scale [4]. Financial Projections - Citron predicts that Rocket Companies could achieve $4 billion in annual EBITDA in the future, with a valuation based on a 15x EBITDA multiple leading to an enterprise value of $60 billion [4]. - This would imply a stock price of approximately $33.33 for Rocket Companies [4]. Market Position - Rocket Mortgage is projected to become the most dominant mortgage company globally within three years, capitalizing on the large and largely inefficient U.S. residential housing market [5]. - As of the latest trading data, Rocket Companies' stock has increased by 4.1% to $12.14, with a year-to-date increase of 12.1% in 2025, despite a decline of over 15% in the past year [5].

Financial Performance - The net loss for the period was $212.4 million, a decrease of $503.2 million compared to a net income of $290.7 million in 2024[198]. - Adjusted EBITDA for the period was $169.0 million, down $5.3 million from $174.3 million in 2024[198]. - Total revenue, net for the three months ended March 31, 2025, was $1,037.3 million, compared to $1,383.7 million in 2024[205]. - Adjusted revenue increased to $1,296.3 million in Q1 2025 from $1,163.2 million in Q1 2024[205]. - Total revenue for the three months ended March 31, 2025, was $1,037,264,000, a decrease from $1,383,716,000 in 2024, representing a decline of approximately 25%[232]. - The adjusted EBITDA for the three months ended March 31, 2025, was $168,966,000, slightly down from $174,278,000 in 2024[212]. - Total expenses for Q1 2025 were $1.26 billion, an increase of $175 million, or 16%, compared to $1.09 billion in Q1 2024, primarily due to higher marketing and salaries expenses[249]. Loan Origination and Servicing - The company originated $21.6 billion in residential mortgage loans for the three months ended March 31, 2025, representing a 7% increase from $20.2 billion in 2024[198]. - Closed loan origination volume increased to $21,584,355,000 in 2025 from $20,205,236,000 in 2024, marking an increase of about 6.8%[215]. - Total mortgage closed loan origination volume for Q1 2025 was $21.58 billion, an increase of $1.38 billion, or 6.8%, compared to $20.21 billion in Q1 2024[234]. - The servicing portfolio's total serviced UPB rose to $600,387,274,000 in 2025 from $510,697,615,000 in 2024, reflecting an increase of approximately 17.5%[215]. - The total loans serviced increased to 2,796.7 thousand in 2025 from 2,474.5 thousand in 2024, an increase of approximately 13%[215]. - The number of MSR loans serviced increased to 2,598,101 in Q1 2025, up from 2,373,612 in Q1 2024, reflecting growth in the servicing portfolio[242]. Gains and Losses - The gain on sale of loans, net, was $771,626,000 for the three months ended March 31, 2025, compared to $699,226,000 in 2024, indicating an increase of about 10.3%[232]. - Gain on sale of loans, net for Q1 2025 was $771.6 million, an increase of $72.4 million, or 10%, compared to $699.2 million in Q1 2024[237]. - Loan servicing loss, net was $48.5 million in Q1 2025, a decrease of $450.7 million compared to $402.3 million in loan servicing income, net in Q1 2024[243]. - Gain on sale of loans, net increased $119.4 million, or 22%, due to an increase in net rate lock volume during the current period[254]. - Gain on sale of loans, net for Partner Network decreased $53.7 million, or 36%, due to lower gain on sale margin[258]. Marketing and Advertising - The marketing and advertising expenses increased to $275,623,000 in 2025 from $206,296,000 in 2024, a rise of about 33.5%[232]. - Directly attributable expenses for Direct to Consumer were $610.1 million, an increase of $80.3 million, or 15%, compared to $529.8 million in 2024[255]. Tax and Interest - The effective income tax rate for adjusted net loss income was 24.32% for Q1 2025, compared to 24.40% in 2024[208]. - Interest income, net decreased to $28.1 million in Q1 2025, down $9.5 million, or 25%, from $37.5 million in Q1 2024 due to higher interest expenses[245]. - The weighted average loan rate for Q1 2025 was 4.32%, compared to 3.80% in Q1 2024, indicating a rise in borrowing costs[242]. Acquisitions and Corporate Strategy - The company entered into agreements to acquire Redfin and Mr. Cooper in all-stock transactions, expected to be completed in 2025[197]. - The company is focused on integrating its acquisitions and simplifying its organizational structure through the Up-C Collapse[197]. Liquidity and Equity - Total liquidity was $8.1 billion as of March 31, 2025, which includes $1.4 billion of cash and cash equivalents[268]. - Cash and cash equivalents increased by $535.2 million, or 60%, to $1.4 billion as of March 31, 2025, compared to $893.4 million as of March 31, 2024[270]. - Equity was $8.6 billion as of March 31, 2025, a decrease of $25.8 million, or 0.3%, compared to $8.6 billion as of March 31, 2024[271]. Other Income - Other income increased to $286.1 million in Q1 2025, up $41.4 million, or 17%, compared to $244.7 million in Q1 2024, driven by a 41% increase in Rocket Money revenue[247].