Rocket Companies Extends Master Repurchase Agreement with Morgan Stanley Bank

Rocket Companies, Inc. has announced an extension to its existing Master Repurchase Agreement with Morgan Stanley Bank. On December 26, 2024, Rocket Mortgage, LLC, a subsidiary of Rocket Companies, Inc., as the seller, Morgan Stanley Bank as the buyer, and Morgan Stanley Mortgage Capital Holdings LLC as the agent for the buyer, entered into Amendment No. 1 to the Master Repurchase Agreement (MRA Amendment) and the related Amendment No. 1 to the Pricing Side Letter. This amendment extended the expiration date of the current Master Repurchase Agreement from May 6, 2026, to December 23, 2026, and increased the facility amount from $1.0 billion to $1.5 billion. Furthermore, certain technical changes were also made to the agreement as part of the extension.

The details of the MRA Amendment are expected to be fully disclosed in Rocket Companies, Inc.’s annual report on Form 10-K for the period ending December 31, 2024.

After the execution of this agreement, the total funding capacity of Rocket Companies, Inc., which includes all master repurchase agreements, early funding facilities, unsecured lines of credit, MSR lines of credit, and early buyout facilities, amounted to $27.5 billion as of December 26, 2024. This figure demonstrates an increase from $24.5 billion as of September 30, 2024, and $24.3 billion as of December 31, 2023.

The filing also mentioned that the information in Item 1.01 above is incorporated into Item 2.03, which pertains to the creation of a direct financial obligation or an off-balance sheet arrangement for the registrant.

Rocket Companies, Inc. concluded the filing on January 2, 2025, with the signature of Tina V. John, Executive Legal Counsel and Secretary, acting on behalf of the company, as required by the Securities Exchange Act of 1934.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Rocket Companies’s 8K filing here.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.