Poised for IPO, Rocket Mortgage lead growth is slowing down
- Rocket Mortgage is set to go public.
- Growth has been strong but does plateauing lead growth mean tough times ahead for the home lender?
The group of lending-related businesses owned by Cleveland Cavaliers owner Dan Gilbert, including Quicken Loans and Rocket Mortgage, has filed for an initial public offering. The combined tie-up will be called Rocket Companies. Rocket Mortgage is the largest online originator of mortgages in the US, providing $1 trillion-plus in home loans since launching, with its market share jumping from 1.3% in 2009 to 9.2% in the first quarter of 2020. But its lead growth is slowing down.
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