Rocket Companies has finalized its $14.2 billion acquisition of Mr. Cooper Group, combining the largest home loan originator with the largest mortgage servicer in the United States. The combined company will now serve nearly 10 million homeowners through its expanded servicing portfolio.
“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,” said Varun Krishna, CEO and Director of Rocket Companies. “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.”
Jay Bray, who has led Mr. Cooper for 25 years as CEO, will transition to become President and CEO of Rocket Mortgage and join Rocket's board of directors, reporting to Varun Krishna. Bray stated: “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. 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.”
As part of this deal, all Mr. Cooper operations will be rebranded under Rocket Companies’ umbrella.
The merger combines Mr. Cooper’s scale in mortgage servicing with Rocket’s record in client satisfaction—recognized by J.D. Power—and broadens opportunities for homeowners seeking lending products such as first-time mortgages or home equity loans.
In July, Rocket Companies also acquired Redfin, further expanding its reach across all stages of homeownership—from property search to financing and servicing.
J.P. Morgan Securities LLC served as financial advisor to Rocket Companies; Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel for Rocket; Citigroup Global Markets Inc., Wachtell Lipton Rosen & Katz and Bradley Arant Boult Cummings LLP advised Mr. Cooper.
Rocket Companies was founded in 1985 in Detroit and includes brands such as Rocket Mortgage, Redfin, Mr. Cooper, Rocket Homes, Rocket Close, Rocket Money and Rocket Loans.
Mr. Cooper Group operates primarily in single-family residential services throughout the U.S., under brands including Xome and Rushmore Servicing.
Forward-looking statements included in this announcement reflect management views as of October 1st 2025 but may be subject to risks detailed in company filings with the SEC.