Rocket Mortgage parent Rocket Companies posted net income of $6.1 billion, down from a record $9.4 billion in 2020, as its revenue fell 21% to $12.9 billion.
Rival UWM saw $1.6 billion in profit last year, down from $3.4 billion in 2020.
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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
Estimated reading time: 0 minutes, 23 seconds
Industry Slowdown Hits Rocket’s and UWM’s 2021 Earnings
The country’s two biggest non-bank mortgage lenders have each announced strong 2021 profits, though their earnings were down from the prior year amid a cooling mortgage market. So reports The Detroit Free Press.
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