Rocket’s new launch – “This is not our first rodeo”

Niemiec was bullish about his company’s prospects, saying Rocket’s “very strong balance sheet” would allow the wholesale lender “to charge through these rough waters and support the broker community”.

He nonetheless recognized that the wholesale industry was facing tough times, noting that companies were currently having to cut back in a variety of ways.

He said: “If you look around the wholesale industry, people are cutting back. They’re letting a lot of their operation team members go, (and) some companies are cutting back the investment they’re putting in technology – we’re seeing some companies literally shut their door and exit wholesale.

“We’re doing the complete opposite. We’re investing; we’re customizing; we’re increasing the support for brokers.”

Niemiec made the comments in line with the launch of the company’s new platform, ‘Crews’, designed so that each broker partner will have round-the-clock direct access to a small, dedicated team of mortgage experts from Rocket, including underwriters, closing specialists and purchase title coordinators.