The incredible growth of Rocket Pro TPO, which had a 125% increase in business in 2020, clearly has uwm very concerned. Today’s move decimates the idea of the free and open market that is so critical to the broker community. We continue to advocate for the right of brokers and consumers to choose how they secure home financing. We do not support restricting consumers’ options – whether it is through economic and social pressure or intimidation tactics.
As we have said repeatedly, a broker’s power is in their ability to choose the best option for their client. By attempting to manipulate the market and have loan officers swear allegiance, sacrificing control as business owners to one company – with financial penalties if they stray –you harm their ability to compete. This move only benefits one company, to the detriment of thousands in the broker community and their clients.
At Rocket Pro TPO, we will continue to invest in our broker partners, like we did with our national broker directory and Super Bowl campaign. In 2021, we have committed more than $100 million to broker technology and will be investing more than $1 billion in marketing campaigns to help raise awareness for Rocket technology and the experience that independent mortgage professionals can leverage.
We value the role of competition in the marketplace. It brings innovation and a better experience to the table. We look forward to expanding our growing portfolio of broker partners in the weeks, months and years to come.
Executive Vice President- Rocket ProSM TPO
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