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Rocket Companies Posts $9B Profit for 2020

Rocket Companies, which includes Quicken Loans, has announced a record profit for its first year as a public company. So reports the Detroit Free Press.

Rocket said its net income soared to $9.4 billion, compared with less than $1 billion in 2019.

CEO Jay Farner said that the company has reached a deal to originate, close and service Morgan Stanley and its subsidiary E-trade’s qualified mortgages.

Read the full article from Detroit Free Press.

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