Rocket Pro August Power Play Expands Credits, Opens Big Pitch Voting

Rocket Pro is moving full steam ahead in its August “Power Play,” a monthly initiative that the company promised to its business partners back in February that’s announced on the first Tuesday of each month.

This month’s Power Play marks the fifth month of the initiative. August’s offerings include an increased refinance credit to 60 basis points that now applies to all refi products. The offering was previously applicable only to cash-out refinances and was 40 bps.

The wholesale lending arm of Rocket Mortgage is also once again extending its 60-bps purchase credit and a 40-bps Compass credit as part of its partnership with the real estate brokerage. It’s also opening its Big Pitch community voting for the top three finalists, which closes on Sept. 1 at Rocket Pro’s annual conference, Rocket Pro Experience (RPX).

In an interview with HousingWire ahead of the announcement, Cory Scholl, Rocket Pro’s executive vice president, said that this month’s strategy aims to support brokers in a tough market by providing additional credits and pricing incentives.

“In a tougher market, the brokers that are winning right now aren’t waiting on rates to drop. They’re stacking every credit available and closing today,” Scholl said. “This Power Play leads with that reality. So when we enhance the credit brokers need most right now and extend the pricing edge, it’s already working. Partners have more reasons to call clients and close deals, regardless of where the rates land.”

Scholl said that brokers who have offered feedback to Rocket have asked for continued extension of the incentives, particularly the Compass partnership credit.

“The Compass credit is definitely worth extending,” he said. “We’re seeing a lot of traction in the market with our partners, bringing on new relationships with Compass agents that they didn’t have previously, as well as fostering relationships they already had.

“We keep enhancing the credit that we’re seeing that our brokers are needing the most right now, and extending price and edges that are already working for them.”

When asked about Rocket Pro’s “Big Pitch” contest, which invited brokers nationwide to submit ideas for new technology tools, Scholl said that the contest was a “massive success” and “exceeded expectations.”

Last month, Rocket Mortgage chief revenue officer Austin Niemiec said the company received more than 350 Big Pitch submissions.

The finalists that brokers will vote on are George Jules of Clearview Lending Solutions, whose “cut time, not corners” proposal reflects Rocket Pro’s focus on combining human expertise with AI-driven speed; Seth Hasan of West Capital Lending, whose “compete when it counts” concept aims to help brokers better serve their clients; and Andrew Haff of Barren Hill Mortgage, whose “save more deals” proposal supports Rocket Pro’s goal of helping more borrowers achieve homeownership.

The finalists will present their concepts live at RPX in September and the winner will receive a $100,000 grand prize. Scholl said that Rocket will be “facilitating” the winning idea.

“Price incentives help today, but the Big Pitch is helping tomorrow. So now brokers will have a say in the technology that helps them succeed,” he said.