Rocket Companies to acquire mortgage servicer Mr. Cooper Group

Rocket Companies, a mortgage and personal finance business in Detroit, has added Mr. Cooper Group to its portfolio. 

Mr. Cooper is the largest mortgage servicer in the country; Rocket is the largest lender in the country. The combined company will service more than $2.1 trillion in loan volume, according to a company statement. With a combined nearly 10 million clients, the two represent one in every six mortgages. 

This announcement was made in the aftermath of Rocket's recent agreement to acquire digital brokerage platform Redfin. 

"Servicing is a critical pillar of homeownership – alongside home search and mortgage origination," said Varun Krishna, Rocket CEO. "With the right data and AI infrastructure we will deliver the right products at the right time. That's how we build lifelong relationships, by proactively unlocking benefits and meeting needs before they arise. We look forward to welcoming Mr. Cooper's nearly 7 million clients." 

Mr. Cooper is based in Coppell, Texas, a suburb of Dallas.