Rocket Companies plans to acquire home loan service provider Mr Cooper Group for $9.4 billion, its second major deal in two months as the US housing market rebounds. The acquisition is expected to boost mortgages business and increase client base by nearly 7 million.
The deal comes after Rocket’s previous purchase of real estate listing firm Redfin for $1.75 billion earlier this month. Mr Cooper Group’s annual revenue of about $2.23 billion will be added to Rocket’s portfolio, generating an additional $100 million in pre-tax revenue and potentially saving $400 million from streamlined operations.
Mr Cooper CEO Jay Bray will lead Rocket Mortgage after the completion of the deal, expected to close in the fourth quarter. The acquisition is expected to immediately add to Rocket’s adjusted earnings per share.
Source: https://www.reuters.com/markets/deals/rocket-companies-buy-mr-cooper-group-94-billion-2025-03-31