5 Things the Rocket Companies IPO Tells Us About the Mortgage Market
In an IPO that could be worth tens of billions of dollars, the mortgage giant Quicken Loans recently filed its S-1 prospectus with the Securities and Exchange Commission. The company plans to issue shares on the New York Stock Exchange and do business as Rocket Companies (NYSE: RKT).
Now the largest mortgage lender in the U.S., Rocket Companies has provided more than $1 trillion in home mortgage loans since it launched, and has a current market share of 9.2% in the $2 trillion annual market. As part of the S-1, Rocket Companies unveiled lots of information that was previously not public. Because of the lender's massive presence, it provides lots of insight about the current state of the mortgage market. Here are five things we learned:
Image source: Quicken Loans.
Source Fool.com
