Mortgage Company Rocket Acquires Mr. Cooper in $9.4B All-Stock Deal

Rocket Cos. announced on March 31, 2025, its plan to acquire Mr. Cooper Group in an all-stock transaction valued at $9.4 billion. This strategic move, following its recent $1.75 billion acquisition of Redfin, is expected to create a powerhouse in the U.S. mortgage market, servicing one out of every six mortgages and adding nearly 7 million clients to its base.

Under the terms of the deal, Mr. Cooper shareholders will exchange their stock for Rocket shares, retaining a 25% stake in the combined entity. Notably, Mr. Cooper Chairman and CEO Jay Bray will step in as CEO of Rocket Mortgage, and the new company will be guided by an 11-member board, primarily composed of Rocket representatives. This merger comes as part of Rocket’s broader strategy to offer an end-to-end homeownership experience by leveraging enhanced data analytics and technology, while also aiming to boost loan volumes and cut client acquisition costs.

The deal is poised to deliver immediate operational benefits, including improved adjusted earnings per share and potential pre-tax revenue boosts, amid a U.S. housing market still grappling with high mortgage rates and other economic challenges.