Rocket Pro Offers Same-Day Approvals, 12-Day Close

Rocket Pro launched its July "Power Play" initiative, enhancing its offerings for mortgage brokers with a focus on speed, pricing, and technology. This initiative includes same-day conditional approvals for eligible conventional purchase loans and a commitment to a 12-business-day clear-to-close period. The program also continues existing pricing incentives and advances the company's broker-driven technology development.

This marks the fourth consecutive month for the "Power Play" initiative, which aims to provide brokers with competitive pricing, operational speed, and technological advancements simultaneously. Austin Niemiec, chief revenue officer of Rocket Mortgage, stated that brokers no longer need to compromise on these three crucial aspects when selecting a lender. Rocket Pro's commitment extends to providing conditional approvals on the same business day that documents are submitted and ensuring eligible conventional purchase loans close within 12 business days.

The accelerated approval and closing timelines are designed to benefit brokers by strengthening their relationships with borrowers and real estate agents. Niemiec highlighted that same-day approvals can impress clients and agents, while also freeing up broker time to pursue new business opportunities. To underscore its commitment, Rocket Pro will offer a $1,000 lender credit to brokers whose qualifying loans do not meet these service guarantees. The company expressed confidence in meeting these new turnaround times, noting that they largely align with Rocket Pro's current performance metrics.