Rocket Companies Completes $14.2B All-Stock Acquisition of Mr. Cooper

Rocket Companies, Inc. RKT has completed the acquisition of Mr. Cooper Group Inc. in terms of a $14.2 billion all-stock transaction. This deal marks the largest independent mortgage acquisition in U.S. history.

As a result of the acquisition, the combined company is expected to serve nearly 10 million clients, managing a $2.1 trillion unpaid principal balance, which represents roughly one in every six mortgages across the country.

Strategic Implications Behind Acquisition

The combination unites Mr. Cooper’s servicing operations with Rocket’s scale in mortgage origination and its growing real estate and technology platform. Together, the companies will create a comprehensive homeownership ecosystem spanning mortgage origination, servicing, real estate search, title and closing. As part of the transaction, Mr. Cooper and its servicing operations will transition under the Rocket brand.

The integration strengthens client relationships by offering more opportunities to access lending products across the homeownership journey — from initial purchase to refinancing and home equity solutions.

As announced in March, RKT expects the deal to generate $100 million in additional pre-tax revenues from higher recapture rates and other services, along with $400 million in pre-tax cost savings from streamlined operations and technology investments.

The acquisition enhances RKT’s data capabilities, adding nearly 7 million new clients and 150 million annual customer interactions. This expanded dataset will improve automation, personalization and overall operational efficiency. Moreover, the combined companies will benefit from a more balanced business model, allowing them to generate stable earnings across various interest rate environments.

Mr. Cooper Group & Rocket Companies’ Management Remarks

Jay Bray, then CEO of Mr. Cooper, stated that, “This transaction brings to a close a multi-year journey during which Mr. Cooper grew to become the nation's largest servicer and produced enormous value for our clients, partners, stakeholders and investors.”

Bray further added, “Now, by joining forces with Rocket, we start a new journey, which I believe offers an even bigger opportunity. Through the power of our platform and our people, we will create a more personalized experience that makes owning a home more attainable and easier to navigate. Together, we will deliver the change the housing industry needs.”

Varun Krishna, CEO and director of Rocket Companies, stated, "Homeownership is the bedrock of the American Dream. By combining mortgage servicing and loan origination, along with home search through Redfin, we are paving the path for Americans to own the dream."

Krishna further added, "Jay Bray and his team have built a technology-driven platform that is the backbone of Mr. Cooper, helping it scale to become the largest servicer in the country. By integrating Mr. Cooper's servicing strength with Rocket's origination capabilities and AI technology and established strong national brand, our goal is to lower costs and make the process easier."

RKT’s Price Performance & Zacks Rank

Over the past six months, shares of RKT have gained 32.6% compared with the industry’s 25.2% growth.

Currently, Rocket Companies carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Acquisition by Other Finance Firms

In September 2025, Apollo Global Management, Inc. APO completed its previously announced acquisition of Bridge Investment Group Holdings Inc. The all-stock transaction, valued at $1.5 billion, was announced in February 2025.

The acquisition provides APO with immediate scale in real estate equity and enhances its origination capabilities across secular growth areas. Founded in 2009, Bridge manages approximately $50 billion in assets across residential, industrial and niche real estate verticals.

In the same month, BlackRock, Inc. BLK completed the acquisition of ElmTree Funds, LLC, a St. Louis–based real estate investment firm specializing in net-lease assets. 

The deal is part of BLK’s long-term goal to raise $400 billion for private markets by 2030. The acquisition expands BlackRock’s private markets platform, giving clients broader access to alternative investments beyond traditional stocks and bonds.

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This article originally published on Zacks Investment Research (zacks.com).

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