Rocket has over the last year entered a new chapter, and on Thursday it shared results showing how it has evolved into an end-to-end real estate company built to withstand an exceedingly volatile housing market.
The results provide more clarity on the platform that Rocket has assembled through acquisitions of Redfin and Mr. Cooper, and how it applied artificial intelligence to its massive network and databases.
“The idea is pretty simple: Inventory drives traffic. Traffic drives leads. Leads drive mortgage. Mortgage leads to servicing, and that creates recapture,” Rocket CEO Varun Krishna said during a call with investors on Thursday while discussing the company’s performance during the first three months of the year.
During the call, Krishna shared exclusive insights into how its coming-soon listings partnership with Compass, announced during the quarter, was working for both Rocket and Compass.
Rocket has generated approximately 10,000 exclusive listings on Redfin, Krishna said, though he didn’t specify if that included Redfin agents’ coming-soon listings on the platform.
Rocket has now contributed close to 30,000 leads to Compass through the partnership, Krishna said. About a quarter of purchase loan applications now come from Compass, he added.
The company also said the quarter showed that it is now built to withstand any housing market and excel during rebounds.
“Q1 was a wild ride,” Rocket CEO Varun Krishna said during a call with investors on Thursday
Despite the rocky real estate market, with rates jumping from just below 6 percent back up to 6.5 percent in the lead-up to the spring buying season, Rocket generated $297 million in profit.
“We delivered strong performance in a volatile market. We are using AI, data and distribution to create opportunity instead of waiting for the market to hand it to us,” CEO Varun Krishna said. “Rocket is no longer the same company that it was 3 years ago. The shape of our business has not only changed, it has fundamentally evolved.”
The machinery of the evolved company, as Krishna described it, includes its “platform, distribution engine and ecosystem.”
Rocket reported that since acquiring Redfin in July 2025, the number of buyer leads fed to Rocket’s mortgage arm has more than tripled.
With advancements in AI integration, Rocket said it has now added $2 billion per month in loan volume in the past two quarters.
The company is utilizing AI for a growing number of pre-approvals, rapidly increasing speeds and freeing up employees to spend time where a human is more necessary, Krishna said.
Rocket now services 9.4 million homeowners, the most in the industry, with unpaid principal totaling $2.1 trillion.
The company is no longer vulnerable to rate cycles, CFO Brian Brown said during the call. At the same time, the company is now poised for “significant upside when rates fall.”
