Monday Nov 11, 2024
608: The Evolution of Rocket Pro TPO - Mike Fawaz
Today, we're joined by Mike Fawaz, Executive Vice President of Rocket Pro TPO, the wholesale division of Rocket Mortgage.
In this episode we will cover:
- How Fawaz and his team built Rocket Pro TPO into the second-largest wholesale lender in the U.S.
- The growth and evolution of Rocket Pro TPO
- How Rocket Pro TPO focuses on supporting their brokers
- An exciting new AI tool developed specifically for brokers
- And more...
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In this episode, I sit down with Mike Fawaz, the Executive Vice President of Rocket Pro TPO, a powerhouse in the U.S. wholesale mortgage sector. Rocket Pro TPO has grown exponentially under Mike's leadership, going from a $7 billion operation to over $100 billion. Mike and I dive into the unique strategies Rocket uses to build deep partnerships with brokers, focusing on providing them the tools and technology they need to succeed—like their impressive AI-driven tools and free credit services. We also explore the surprising shifts in the broker community, how Rocket Pro TPO stays agile in this rapidly evolving market, and the power of data and relationships in transforming the mortgage experience.
Here are the talking points we covered:
- How Rocket Pro TPO went from $7 billion to $100 billion in loan volume.
- The importance of supporting brokers as partners, not just clients.
- The growing broker market share as clients seek more options beyond retail lenders.
- Rocket’s commitment to efficient processing, with data-driven benchmarks for loan processing times.
- How Rocket Pro TPO leverages data to refine its services and improve broker experiences.
- Impact of AI-driven solutions on the mortgage industry’s efficiency and customer service.