Rocket Companies
36 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.
Customers
Fannie Mae, Freddie Mac and Ginnie Mae servicing agreements
earns fromnamed as a riskThe majority of the mortgage loans we service are serviced on behalf of Fannie Mae, Freddie Mac and Ginnie Mae.Risk factors (Item 1A)
Suppliers
Loan funding facilities
depends on · $28.5 billionnamed as a riskAs of December 31, 2025, we had twenty-one loan funding facilities which provide us with an aggregate maximum principal amount of $28.5 billion in loan origination availability, nineteen of which allow drawings to fund loans at closing and are primarily with large global financial institutions.Risk factors (Item 1A)
Uncommitted loan funding capacity
depends on · $19.5 billionnamed as a riskApproximately $19.5 billion of our loan funding capacity are uncommitted and can be terminated by the applicable lender at any time.Risk factors (Item 1A)
Partners and platforms
Additionally, growing consumer demand for privacy-centric online experiences and growing consolidation of user data from “walled garden” platforms (such as Google and Meta) is likely to further diminish these signals, limiting our ability to refine targeting, measure campaign effectiveness and maintain cost-efficient client acquisition.Risk factors (Item 1A)
Also named by ABNB, AES, APP, BKNG, CSGP, CTSH, DOCU, ETSY and 14 more
Fannie Mae
depends onnamed as a riskOur business is highly dependent on Fannie Mae and Freddie Mac and certain U.S. government agencies and any changes in these entities or their current roles could be detrimental to our business.Risk factors (Item 1A)
Also named by ABR, AGNC, BAC, CBRE, DX, FICO, FSUN, JLL and 7 more
Freddie Mac
depends onnamed as a riskOur business is highly dependent on Fannie Mae and Freddie Mac and certain U.S. government agencies and any changes in these entities or their current roles could be detrimental to our business.Risk factors (Item 1A)
Also named by ABR, AGNC, BAC, CBRE, DX, FICO, FSUN, LEN and 5 more
Ginnie Mae
depends onnamed as a riskWe securitize loans into MBSs through Fannie Mae, Freddie Mac and Ginnie Mae.Risk factors (Item 1A)
Meta
depends onnamed as a riskAdditionally, growing consumer demand for privacy-centric online experiences and growing consolidation of user data from “walled garden” platforms (such as Google and Meta) is likely to further diminish these signals, limiting our ability to refine targeting, measure campaign effectiveness and maintain cost-efficient client acquisition.Risk factors (Item 1A)
Apple IDFA
depends onnamed as a riskThe deprecation of third-party cookies by major browsers and the restriction of mobile advertising identifiers (such as Apple’s IDFA), ongoing changes in the regulatory environment, such as the California Consumer Privacy Act and other enacted U.S. state privacy laws, and evolving policies from mobile operating systems and browser providers have begun to restrict the data signals available for ad targeting and measurement.Risk factors (Item 1A)
Also named by MGNI
MERS System
depends onnamed as a riskChallenges to the MERS® System could materially and adversely affect our business, results of operations and financial condition.Risk factors (Item 1A)
Woodward Capital Management LLC
depends onLoans originated outside of Fannie Mae, Freddie Mac and the guidelines of the FHA, USDA, or the VA (for loans securitized with Ginnie Mae) are sold to private investors and mortgage conduits, including our loan securitization company, Woodward Capital Management LLC, which primarily securitizes such non-GSE loan products.Risk factors (Item 1A)
Other companies
Tax Receivable Agreement with RHI II
$590 millionnamed as a riskFuture payments under the Tax Receivable Agreement could be substantial.Risk factors (Item 1A)
Repurchase and indemnification obligations
$129 millionnamed as a riskAs of December 31, 2025, we had accrued $129 million in connection with our reserve for repurchase and indemnification obligations.Risk factors (Item 1A)
Mr. Cooper
named as a riskFor example, on October 31, 2023, Mr. Cooper experienced a cybersecurity incident in which an unauthorized third party gained access to certain of its technology systems and obtained personal information relating to substantially all of its then-current and former customers/clients.Risk factors (Item 1A)
Redfin
named as a riskWe may not achieve the intended benefits of our acquisition of Redfin and acquisition of Mr. Cooper, and the Redfin Acquisition or the Mr. Cooper Acquisition may disrupt our current plans or operations.Risk factors (Item 1A)
Places
India
operates innamed as a riskWe currently have operations located in India, which may be subject to political and social instability and may lack the infrastructure to withstand political unrest or natural disasters.Risk factors (Item 1A)
Also named by A, AAPL, ACN, AJG, AKAM, AMZN, AOS, AVGO and 54 more
Canada
operates innamed as a riskFurthermore, our expansion of operations into Canada has made us subject to Canadian laws, regulations and rules which have additional and distinct oversight, supervision, and enforcement requirements.Business (Item 1)
Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more
Detroit
concentrated innamed as a riskFor example, a significant natural disaster in Detroit, such as an earthquake, tornado, fire or flood, could have a material adverse impact on our business, operating results and financial condition and our insurance coverage may be insufficient to compensate us for losses that may occur.Risk factors (Item 1A)
Commodities and inputs
Mortgage servicing rights (MSRs)
exposed to its price · $(541)named as a riskFor example, changes in the fair value of MSRs are primarily driven by interest rate changes, which impact the likelihood of loan prepayments and refinancing.Market risk (Item 7A)
Mortgage-backed securities (MBS) market
exposed to its pricenamed as a riskAny significant disruption or period of illiquidity in the general MBS market could directly affect our liquidity because no existing alternative secondary market would likely be able to accommodate on a timely basis the volume of loans that we typically sell in any given period.Risk factors (Item 1A)
TBA securities and Treasury futures
exposed to its priceBecause substantially all of our production is deliverable to Fannie Mae, Freddie Mac, and Ginnie Mae, we utilize forward TBA securities as our primary hedge instrument, along with Treasury futures, and other non-mortgage hedging instruments, to mitigate basis risk.Market risk (Item 7A)
Regulators
Consumer Financial Protection Bureau (CFPB)
subject tonamed as a riskAs such, the CFPB poses a substantial regulatory risk to our operations.Risk factors (Item 1A)
Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more
Texas
subject tonamed as a riskRTIC, a title insurance underwriter, is heavily regulated by its domiciled state of Texas and by the department of insurance in each state where it holds a certificate of authority to transact title insurance.Risk factors (Item 1A)
Also named by ABR, AFRM, ALLY, AN, ASO, ASTS, ATO, AXP and 70 more
U.S. Federal Reserve
exposed to its pricenamed as a riskFor example, we are particularly affected by the policies of the U.S. Federal Reserve, including changes to the federal funds rate and its balance sheet, specifically its MBS portfolio.Risk factors (Item 1A)
Also named by AGNC, AUB, AXP, BAC, CASH, COF, DX, EFSC and 24 more
Federal Housing Finance Agency (FHFA)
subject tonamed as a riskIn 2008, the FHFA placed Fannie Mae and Freddie Mac into conservatorship and, as their conservator, FHFA controls and directs their operations.Risk factors (Item 1A)
Also named by ABR, AGNC, DHI, DX, ELS, FICO, NLY, RITM and 1 more
U.S. Department of Veterans Affairs (VA)
subject tonamed as a riskWith delinquent VA guaranteed loans, the VA guarantee may not make us whole on losses or payment advances we may have made on the loan.Risk factors (Item 1A)
National Association of Realtors (NAR)
subject tonamed as a riskIn October 2023, Redfin began exiting local realtor associations and the NAR in some jurisdictions.Risk factors (Item 1A)
Also named by COMP
Federal Housing Administration (FHA) / HUD
subject tonamed as a riskThis includes, but is not limited to, Fannie Mae, Freddie Mac, Ginnie Mae, FHFA, the VA, and the FHA/HUD.Business (Item 1)
Laws and programs
Telephone Consumer Protection Act (TCPA)
subject to · $500 for each callnamed as a riskLike other companies that rely on telephone and text communications, we are regularly subject to putative, class action suits alleging violations of the TCPA.Risk factors (Item 1A)
Also named by ADP, AFL, BBW, CART, COMP, CRM, CSGP, FCFS and 9 more
Preferred Stock Purchase Agreements (PSPAs)
subject tonamed as a riskChanges to the PSPAs may have significant implications on the GSEs’ market footprint, lender access to the secondary market and GSE capital and conservatorship milestones.Risk factors (Item 1A)
CTIA Messaging Principles and Best Practices
subject tonamed as a riskA failure to comply with CTIA guidelines could result in us being temporarily unable to make communications over carrier networks, which could have a material adverse effect on our business.Risk factors (Item 1A)
Fair Housing Act and Equal Credit Opportunity Act
subject tonamed as a riskBeyond exposure to potential fair lending or servicing claims under disparate impact theory, lenders face increasing regulatory, enforcement and litigation risk under the FHA and ECOA from claims of “redlining,” “reverse redlining,” and “digital redlining.”Risk factors (Item 1A)
State Community Reinvestment Acts
subject tonamed as a riskHowever, certain state CRAs expanded the scope of application to include non-depository mortgage lenders, such as Rocket Mortgage.Risk factors (Item 1A)
Secure and Fair Enforcement for Mortgage Licensing Act of 2008
subject toWe incur significant ongoing costs to comply with licensing and other legal requirements under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 and the Dodd‑Frank Act, among others.Business (Item 1)
Technology
Fannie Mae and Freddie Mac automated underwriting engines
depends onnamed as a riskWe use automated underwriting engines from Fannie Mae and Freddie Mac to assist us in determining if a loan applicant is creditworthy, as well as other proprietary and third-party tools and safeguards to detect and prevent fraud.Risk factors (Item 1A)