Rocket buys Mr. Cooper
A mere three weeks after buying Redfin for $1.75 billion, Rocket Companies acquired Mr. Cooper for $9.4 billion.
The deal advances Rocket's goal of creating an all-encompassing home buying, selling, and financing platform.
Find your lowest rate. Start hereDetails of the Rocket-Mr. Cooper deal
Rocket Companies — the parent company of Rocket Mortgage — announced on March 21, 2025 that it will buy Mr. Cooper in an all-stock transaction valued at $9.4 billion.
Mr. Cooper (formerly Nationstar) is the largest mortgage servicer in the country, with about 7 million borrowers in its portfolio. Combined with Rocket, that portfolio grows to nearly 10 million borrowers — about one in every six U.S. mortgages — worth $2.1 trillion, according to the press release.
“Servicing is a critical pillar of homeownership – alongside home search and mortgage origination,” said Varun Krishna, CEO at Rocket Companies. “With the right data and AI infrastructure we will deliver the right products at the right time. That’s how we build lifelong relationships, by proactively unlocking benefits and meeting needs before they arise."
The latest acquisition is another step toward Rocket's goal of building a one-stop-shop in real estate and lending. The deal is expected to finalize in the fourth quarter of 2025, once it receives regulatory and Mr. Cooper shareholder approval. Rocket estimates the acquisition will generate $500 million in annual revenue.
"By combining Mr. Cooper and Rocket, we will form the strongest mortgage company in the industry, offering an end-to-end homeownership experience backed by leading technology and grounded in customer care. I am deeply grateful for the dedication of the Mr. Cooper team and look forward to our continued work as we lead our industry into the future of homeownership," said Jay Bray, Mr. Cooper Group Chairman and CEO.
Rocket laid out its new business model in the post-announcement media kit:
The bottom line for home buyers
The end-to-end, one-stop-shop has long been a dream in the mortgage sector.
Rocket's pair of acquisitions puts the company closer to making that a reality in digital lending. The ripple effects, whether more lenders follow this path or shutter because of it, may soon greatly impact home buyers, sellers, and real estate professionals.
