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Rocket Mortgage

All articles tagged with #rocket mortgage

business10 days ago•20 min saved

Rocket Mortgage's Shift to VantageScore Triggers 26% Plunge in FICO Shares

Rocket Mortgage announced it will adopt VantageScore 4.0 as its primary credit scoring model for eligible loans, marking the first major departure from the FICO standard in the mortgage sector. This move, following four months of testing, aims to lower costs and expand access for borrowers with limited credit histories. The announcement triggered a 26.5% drop in Fair Isaac Corporation (FICO) shares on September 30, 2026, as investors reacted to the potential erosion of FICO's market dominance.

via Yahoo Finance|

#business #credit-scoring #fico

business11 days ago•21 min saved

FICO Shares Plunge 26% as Rocket Mortgage Adopts VantageScore, Igniting Credit Scoring War

Fair Isaac Corporation (FICO) shares dropped 26.5% on September 30, 2026, following a major competitive shift in the mortgage industry. Rocket Mortgage announced it will switch to VantageScore 4.0 as its preferred credit model for all eligible loans, marking the first time a major lender has moved away from the FICO standard. This move, driven by cost savings and broader consumer access, has intensified fears that AI-driven alternatives and new competitors are eroding FICO's long-standing monopoly.

via Yahoo Finance|

#business #credit-scoring #fico

business11 days ago•20 min saved

Rocket Mortgage adopts VantageScore 4.0, accelerating FICO's market share decline

Fair Isaac Corporation (FICO) shares dropped 26.85% on September 29, 2026, following a regulatory shift that allows VantageScore 4.0 to replace FICO in mortgage underwriting. Rocket Mortgage announced it will use VantageScore as its primary scoring model for all eligible loans starting in Q4 2026, citing lower costs and broader borrower eligibility. This move follows FHFA Director Bill Pulte's earlier push to diversify credit scoring models, which had already triggered a sell-off in FICO and major credit bureaus in early September.

via Yahoo Finance|

#business #fannie-mae #fico

business7 months ago•3 min saved

Better and OpenAI unveil ChatGPT-powered underwriting to slash mortgage timelines

Better.com teams with OpenAI to launch a ChatGPT-based app that automates underwriting checks, cutting mortgage underwriting from about 21 days to as little as 47 seconds and enabling lenders to move faster and cut costs, positioning Better as a mortgage-as-a-service tech platform for rivals like Rocket Mortgage and United Wholesale Mortgage.

via CNBC|

#bettercom #business #fintech

finance9 months ago•6 min saved

Mortgage Rewards Credit Cards Vanish: Your Next Steps

Mortgage reward credit cards like Mesa and Rocket Mortgage are disappearing due to profitability challenges and transaction fee issues, leaving consumers with fewer options for earning rewards on mortgage payments. Mesa abruptly shut down its card without notice, and Rocket Mortgage also ended its co-branded card, prompting affected customers to continue paying their balances and seek alternative rewards programs like Bilt, which plans to introduce new mortgage reward options in 2026.

via CNBC|

#credit-cards #finance #financial-products

sports3 years ago•3 min saved

NFL Teams Announce 2023 Training Camp and Practice Schedules

The Detroit Lions will hold their 2023 Training Camp presented by Rocket Mortgage at their headquarters and training facility in Allen Park, featuring joint practices with the New York Giants and Jacksonville Jaguars. Fans will need to register for free tickets to attend, with Lions Loyal Members receiving exclusive access to certain practices. The camp will have activities for all ages, including merchandise giveaways and autograph signings. Parking is free, and daily practice updates will be available on the team's website and Twitter.

via detroitlions.com|

#detroit-lions #fans #nfl

real-estate3 years ago•3 min saved

Rocket Mortgage Launches 1% Down Program for Home Buyers

Rocket Mortgage has launched a new program called ONE+ that allows low and moderate-income aspiring homeowners to buy homes in their area with just 1% of a home’s purchase price down, as well as avoid paying mortgage insurance. The program will be available to qualifying homebuyers in all 50 states. Rocket will pay 2% of the borrower’s loans to ensure the mortgages are sold and guaranteed by Fannie Mae and Freddie Mac. Unlike subprime loans, borrowers must meet specific and stringent credit standards to prevent defaults. The program aims to level up some of the folks who are struggling in a competitive housing market where prices have risen.

via MarketWatch|

#homebuyers #housing-market #low-down-payment