Escrow administration is effectively managed. The company has highly efficient multi-channel payment processing automation that processes 95% of all monthly payments electronically. The company exhibits loan administration performance metrics that are competitive with, or superior to, peer group and industry averages. A review of the company's internal audit reports as well as the Uniform Single Attestation Program for Mortgage Bankers report for 2021 did not reveal any material findings. The risk management framework is well-defined, clearly delineating responsibilities across different teams and within the lines of business. Rocket has strong risk management controls in place that are built upon a three-lines-of-defense strategy consisting of quality assurance, quality control and internal audit. The ratings also consider the overall financial condition of Rocket Mortgage, LLC's 'BB+' Long-Term Issuer Default Rating published by Fitch on May 5, 2022. As of June 30, 2022, Rocket remains the number one retail mortgage lender based on origination volume and the fifth largest loan servicer. In 2019, the company launched its prime jumbo label securitization program (RCKT). ![]() Rocket has been originating mortgages since 1985 and began securitizing loans in 2007. (NYSE: RKT) that is headquartered in Detroit, MI, with additional locations in Cleveland, OH, Phoenix, AZ, and Charlotte, NC. ![]() ![]() Rocket is a flagship business of Rocket Companies, Inc. In addition, Rocket has strong risk management controls, competitive loan servicing performance metrics and an effective technology environment with an emphasis on a continuous improvement culture across the enterprise. Rocket's affirmed rating and Stable Outlook reflect the company's diligent post-pandemic response to the coronavirus and its impact on servicing operations performance. Fitch Ratings has affirmed the following servicer rating for Rocket Mortgage, LLC (Rocket).
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