{"id":2734,"date":"2025-03-31T21:58:54","date_gmt":"2025-04-01T03:58:54","guid":{"rendered":"https:\/\/citystuff.com\/dallas\/?p=2734"},"modified":"2025-03-31T21:58:54","modified_gmt":"2025-04-01T03:58:54","slug":"rocket-acquires-coppell-based-mortgage-company-mr-cooper-in-9-4b-deal","status":"publish","type":"post","link":"https:\/\/citystuff.com\/dallas\/2025\/03\/31\/rocket-acquires-coppell-based-mortgage-company-mr-cooper-in-9-4b-deal\/","title":{"rendered":"Rocket acquires Coppell-based mortgage company Mr. Cooper in $9.4B deal"},"content":{"rendered":"

Rocket Acquires Mr. Cooper in $9.4 Billion Deal<\/h1>\n

Mortgage company Rocket is acquiring Coppell-based Mr. Cooper in an all-stock deal valued at $9.4 billion, the parties announced Monday.<\/p>\n

Rocket Companies said in a news release the deal creates a business representing one in every six mortgages in the United States and adds seven million additional clients.<\/p>\n

The acquisition will also boost loan volumes and recurring revenue while lowering client acquisition costs.<\/p>\n

Benefits of the Acquisition<\/h2>\n

\u201cBy combining Mr. Cooper and Rocket, we will form the strongest mortgage company in the industry, offering an end-to-end homeownership experience backed by leading technology and grounded in customer care,\u201d Jay Bray, Mr. Cooper Group chairman and CEO, said in a statement.<\/p>\n

Bray will become President and CEO of Rocket Mortgage once the deal is closed, reporting to current Rocket CEO Varun Krishna. Dan Gilbert will remain Chairman of Rocket Companies.<\/p>\n

The board of the combined company will consist of 11 members. Two will be from the board of Mr. Cooper, according to the news release.<\/p>\n

Terms of the Deal<\/h3>\n

Mr. Cooper shareholders will receive a fixed rate of 11 shares of Rocket for each share of Mr. Cooper common stock. Rocket shareholders will own 75% of the combined company. The deal is expected to close in the final quarter of 2025.<\/p>\n

That\u2019s a 35% premium on Mr. Cooper shares, based on the price before trading started Monday.<\/p>\n

Recent Developments in the Mortgage Industry<\/h2>\n

The deal comes after Rocket announced earlier this month that it would acquire Redfin, a popular online listings and brokerage platform, for $1.75 billion.<\/p>\n

Mr. Cooper is one of the largest servicers and originators of home loans in the nation.<\/p>\n

The National Association of Realtors announced earlier this month that the sales of previously occupied U.S. homes rose in February by 4.2% over January to a seasonally adjusted annual rate of 4.26 million units.<\/p>\n

The increase was attributed to declining mortgage rates and higher inventory. The average 30-year mortgage rate as of March 27 was 6.65%, according to Freddie Mac.<\/p>\n

Local Real Estate Market Trends<\/h3>\n

In February, the median price of a D-FW home was $395,000, up 1.5% from the previous year. Nearly 6,400 home sales were closed, down 4.4% from February 2024, according to data from the MetroTex Association of Realtors.<\/p>\n

D-FW Real Estate News<\/p>\n

Get the latest real estate news you need to know.<\/p>\n

Other Local Developments<\/h2>\n

Muslim-centric EPIC City draws Collin County meeting ire<\/span>
\n<\/p>\n

Plans haven\u2019t been submitted, but most residents at Monday\u2019s public hearing opposed the project.<\/p>\n

\"Imran
\nEPIC City: A timeline of Muslim-centric neighborhood plans, leaders\u2019 responses<\/span>
\n<\/p>\n

Gov. Greg Abbott announced that the Texas Workforce Commission is investigating the neighborhood\u2019s developers.<\/p>\n

Conclusion<\/h2>\n

The acquisition of Mr. Cooper by Rocket is expected to create a leading mortgage company in the industry, offering a wide range of services to homeowners. The deal is expected to close in the final quarter of 2025 and will result in Rocket shareholders owning 75% of the combined company.<\/p>\n

Frequently Asked Questions<\/h2>\n

Q: What is the value of the acquisition?<\/h3>\n

A: The acquisition is valued at $9.4 billion.<\/p>\n

Q: Who will lead the combined company?<\/h3>\n

A: Jay Bray, Mr. Cooper Group chairman and CEO, will become President and CEO of Rocket Mortgage, reporting to current Rocket CEO Varun Krishna.<\/p>\n

Q: What is the expected closing date of the deal?<\/h3>\n

A: The deal is expected to close in the final quarter of 2025.<\/p>\n

Q: How will the acquisition affect the mortgage industry?<\/h3>\n

A: The acquisition is expected to create a leading mortgage company in the industry, offering a wide range of services to homeowners and increasing competition in the market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rocket Acquires Mr. Cooper in $9.4 Billion Deal Mortgage company Rocket is acquiring Coppell-based Mr. Cooper in an all-stock deal valued at $9.4 billion, the parties announced Monday. Rocket Companies said in a news release the deal creates a business representing one in every six mortgages in the United States and adds seven million additional […]<\/p>\n","protected":false},"author":12,"featured_media":2735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":{"0":"post-2734","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-real-estate"},"jetpack_featured_media_url":"https:\/\/dmn-dallas-news-prod.cdn.arcpublishing.com\/resizer\/v2\/6C3W2HFDQWUUA64GEE4SIL4HTM.jpg?auth=dbbe5cc5b161470894c4d1ecd3b7d0a2ec361af8b3d40c0ee7ee6fb9a35cbb8d&height=630&width=1200&smart=true&quality=80","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/posts\/2734"}],"collection":[{"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/comments?post=2734"}],"version-history":[{"count":1,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/posts\/2734\/revisions"}],"predecessor-version":[{"id":2736,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/posts\/2734\/revisions\/2736"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/media\/2735"}],"wp:attachment":[{"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/media?parent=2734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/categories?post=2734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/tags?post=2734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}