Latest offering by Rocket Loans highlights the power of the
company's technology that can be used for a wide range of financial
products
DETROIT, Aug. 2, 2022
/PRNewswire/ -- Rocket Loans, a leading tech-driven lending
platform and part of Rocket Companies (NYSE: RKT), today announced
it has partnered with Rocket Solar to provide financing to the
company's clients who want to help the environment and save money
by generating their own electricity with the power of the sun.
Launched earlier this year, Rocket Solar provides consulting,
system design, financing, installation and ongoing service to
homeowners across the United States.
Through the new relationship, clients who elect to have a solar
electricity system installed will have the ability to leverage
Rocket Loans' AI-powered, customer-centric lending platform to
receive an automated and individualized loan offer for a solar loan
in less than 30 seconds.
"We have invested heavily in creating an entire personal finance
experience that leverages artificial intelligence and machine
learning to deliver loan offers tailored to the individual –
automatically verifying client identity and income with speed and
certainty," said Todd Lunsford,
President of Rocket Loans and former Chief Technology Officer for
Rocket Mortgage. "Even more impressive, while making quick and
automated decisions, Rocket Loans technology helps us accurately
determine our clients' ability to repay the loans, with default
rates and loss coverage ratios that are significantly better than
any other personal lending platform on the market today."
Founded in 2016, Detroit-based
Rocket Loans was created to leverage a single, automated technology
platform – using artificial intelligence – to offer clients a
simple, fast and intuitive experience that would fit any loan
product and be tailored to the specific need. Since that time,
the company has grown to meet the lending needs of consumers, has
provided automated data intelligence technology to the federal
government and is now adding Rocket Solar to its list of
clients.
"It was incredibly important to Rocket Solar that we partner
with a lender who shares the same passion for client service we
do," said Joel Gurman, President of
Rocket Solar. "The Rocket Loans platform is able to give our
solar clients quick lending decisions and is also extremely
flexible to meet the needs of our rapidly growing business. This
partnership is the latest example of how Rocket creates
technologies to make once-complicated transactions simple –
something our clients tell us they really appreciate."
Rocket Solar currently operates in 42 metro areas across the
country, which account for nearly 25% of the American
population. Clients utilizing Rocket Solar could achieve an average
savings of $1,300 on their electric
bill during the first year leveraging solar energy. They also
protect themselves against future cost increases from public
utilities by generating their own electricity.
The solar industry is growing rapidly, with a 30 percent annual
increase in solar panel installations in 2021. Additionally, in
September 2021, the U.S. Department
of Energy (DOE) released the Solar Futures Study. In its forecast,
the DOE said that, by 2035, solar energy could power 40 percent of
the nation's electricity – the equivalent of all homes in the U.S.
today. This provides significant opportunity for Rocket Solar and
Rocket Loans in the years and decades ahead by solidifying its
position as the go-to choice for consumers seeking a simple,
reliable and streamlined process.
To learn more about the company, solar installation and
financing, visit www.rocketsolar.com.
About Rocket Loans:
Founded in 2016, Rocket Loans is an AI-enabled lending platform,
designed to provide saleable and flexible loan decisioning to
clients in any industry. Part of Rocket Companies (NYSE:
RKT), the company's platform delivers near-instant loan decisioning
and personalized options for clients, while maintaining industry
leading loan performance. Learn more at RocketLoans.com.
About Rocket Solar
Rocket Solar is a tech-driven, residential solar energy provider
and a part of Rocket Companies (NYSE: RKT). The company's website
gives a personalized quote showing the estimated energy cost
savings and the price of installation in less than 30 seconds.
Founded in 2022, the company currently offers solar panels on homes
in 42 major markets across 16 states, making up a quarter of the
American population. See more information and inquiry about solar
panel installation at RocketSolar.com
About Rocket Companies
Founded in 1985, Rocket Companies is a Detroit-based
FinTech platform company consisting of personal finance and
consumer technology brands including Rocket Mortgage, Rocket Homes,
Amrock, Rocket Auto, Rocket Loans, Rocket Money (formerly known as
Truebill), Rocket Solar, Rocket Mortgage Canada (formerly known as
Edison Financial), Lendesk, Core Digital Media, Rocket Central and
Rock Connections.
Rocket Companies' mission is to be the best at creating
certainty in life's most complex moments so that its clients can
live their dreams. The Company helps clients achieve the dream of
home ownership and financial freedom through industry-leading
client experiences powered by its simple, fast and trusted digital
solutions. Rocket Companies ranked #7 on Fortune's list of the "100
Best Companies to Work For" in 2022 and has placed in the top third
of the list for 19 consecutive years. For more information,
please visit our Corporate Website or Investor Relations
Website.
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SOURCE Rocket Companies, Inc.