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Sep 30, 2021
Rocket Companies Q3 2021 Earnings Report
Rocket Companies reported strong Q3 2021 results, exceeding closed loan volume and gain-on-sale margin guidance, achieving a second consecutive record purchase quarter.
Key Takeaways
Rocket Companies announced excellent third-quarter results, exceeding the high end of guidance for closed loan volume and gain-on-sale margin. The company generated net revenue of $3.1 billion and net income of $1.4 billion.
Total revenue, net of $3.1 billion and Adjusted Revenue of $3.2 billion in Q3 '21.
Rocket Mortgage generated $88 billion in mortgage origination closed loan volume and gain on sale margin of 3.05%.
Generated net income of $1.4 billion and Adjusted Net Income of $1.1 billion during Q3 ’21.
Grew servicing book unpaid principal balance to $521 billion at September 30, 2021, up 30% from September 30, 2020.
Revenue by Segment
Forward Guidance
We expect the following ranges in Q4 2021: Closed loan volume of between $75 billion and $80 billion. Net rate lock volume of between $71 billion and $78 billion. Gain on sale margins of 2.65% to 2.95%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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