Rocket Mortgage in Canada will deliver a tech-driven
client experience to revolutionize the mortgage process for
Canadians, just as its sister company has done in the U.S.
WINDSOR,
ON, July 12, 2022 /PRNewswire/ -- Edison
Financial, a rapidly expanding digital mortgage broker, today
announced it will officially change its name to Rocket Mortgage
Canada on August 8, 2022, doing
business under the brand Rocket Mortgage throughout the country.
The move is more than a rebrand, the change reflects the company's
mission to revolutionize the Canadian mortgage industry with an
emphasis on harnessing technology to simplify the home loan
process, just as sister company under the Rocket Companies
(NYSE:RKT), Rocket Mortgage, LLC, has done successfully in the
U.S.
"Our mission when we launched over two years ago was to use
technology to improve the mortgage experience in Canada, making life easier for homebuyers and
homeowners," said Hash Aboulhosn, President of Rocket Mortgage in
Canada. "Today's announcement is
the first step in bringing Canadians a vastly-improved mortgage
process through technology, innovation and client service. I'm
excited for what's to come as we continue to positively impact the
way Canadians view getting a home loan."
Windsor-based Edison Financial
began serving clients in March 2020
and has already reached $1 billion
(CAD) in annualized submitted volume – making it the first mortgage
brokerage in Canada to reach that milestone so quickly.
The company demonstrated the strength of its business model as
it expanded from offering home loans in Ontario, at launch, to now providing mortgages
in every province – primarily from its headquarters in downtown
Windsor. The Edison Financial team
has grown along with the company, starting with just four team
members in early 2020 to more than 140 at present.
"In America, Rocket Mortgage is synonymous with
industry-leading, proprietary technology that creates an unmatched
client experience. We've spent the last 37 years defining and
redefining the way mortgages should be done in the U.S. – and now
we have the opportunity through this rebrand to share everything
we've learned with our neighbors to the north," said Bob Walters, CEO of Rocket Mortgage in the U.S.
"Our process removes the complexity of getting a home loan –
replacing it with a fast, enjoyable experience. This is something
that has been lacking in the Canadian market, and we are eager to
help our sister company show Canadians just how simple getting a
mortgage can be."
Today, Edison Financial is a mortgage brokerage with access to
thousands of loan products from more than 50 lenders. The company
works closely with banks and lenders to match clients with the best
product for their financial needs.
In addition to changing its name, Rocket Mortgage also announced
plans to become a direct lender in Canada later this year. The company's agents
regularly speak with clients from all walks of life, putting Rocket
Mortgage in the unique position to utilize the insights gained from
those conversations to develop impactful loan products to meet
client needs.
After becoming a lender in Canada, Rocket Mortgage will continue offering
options from other lender partners alongside its own products –
connecting homebuyers with the best solution for their individual
circumstance.
Edison Financial's appetite for growth, and building strong
solutions for homeowners and buyers, is a direct reflection of the
company's commitment to revolutionizing the Canadian mortgage
market. Clients who are currently in the mortgage process will not
be affected by the name change.
Canadians can visit RocketMortgage.ca for more information or to
apply for a home loan.
About Edison Financial / Rocket
Mortgage
Edison Financial is a digital mortgage broker and a part of
Rocket Companies (NYSE: RKT). Rocket Companies is a Detroit-based holding company consisting of
personal finance and consumer technology brands including Rocket
Mortgage, LLC, the largest mortgage lender in the U.S. Founded in
2020, Edison Financial aims to transform and modernize the mortgage
experience in Canada by providing
a streamlined process for individuals looking to purchase a home or
refinance their mortgage. Edison Financial's mortgage agents aim to
deliver the highest level of client service. For more information,
or to apply for a mortgage, visit EdisonFinancial.ca.
About Rocket Mortgage,
LLC
Detroit-based Rocket Mortgage,
the U.S.'s largest home mortgage lender and part of Rocket
Companies (NYSE: RKT), enables the American Dream of homeownership
and financial freedom through its obsession with an
industry-leading, digital-driven client experience. In late 2015,
it introduced the first fully digital, completely online mortgage
experience. Rocket Mortgage closed $351
billion dollars of mortgage volume across all 50 states in
2021.
Rocket Mortgage moved its headquarters to downtown Detroit in 2010. The company generates loan
production from web centers located in Detroit, Cleveland and Phoenix and operates a centralized loan
processing facility in Detroit.
Rocket Mortgage ranked highest in the country for customer
satisfaction for mortgage servicing by J.D. Power the past eight
straight years, 2014 – 2021.
Rocket Companies, Rocket Mortgage's parent company, ranked #7 on
Fortune's list of the "100 Best Companies to Work For" in 2022 and
has placed in the top third of the list for 19 consecutive
years.
For more information and company news
visit RocketMortgage.com/PressRoom.
About Rocket Companies
Rocket Companies is a Detroit-based FinTech platform company
consisting of personal finance and consumer technology brands
including Rocket Mortgage, Rocket Homes, Amrock, Rocket Auto,
Rocket Loans, Truebill, Lendesk, Edison Financial, Core Digital
Media, Rocket Central and Rock Connections.
Since 1985, Rocket Companies has been obsessed with helping its
clients achieve the American dream of home ownership and financial
freedom. The Company offers industry-leading client experiences
powered by its simple, fast and trusted digital solutions. Rocket
Companies ranked #7 on Fortune's list of the "100 Best Companies to
Work For" in 2022 and has placed in the top third of the list for
19 consecutive years. For more information, please visit our
Corporate Website or Investor Relations Website.
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SOURCE Edison Financial