D
uring a September 18 panel at AVANCE Global, hosted by NAHREP, Rocket Companies CEO Varun Krishna explained how the firm’s recent acquisitions of Redfin and mortgage lender Mr. Cooper reflect a vision of a more collaborative home‑ownership ecosystem. He said the partnership with Redfin’s CEO Glenn Kelman arose from a shared belief that the industry’s competitive nature hurts consumers. “We can do a lot together,” he told the audience, noting that joint efforts can lower fees, cut costs, and create an end‑to‑end platform for buyers and sellers.
Krishna, who took the helm two years ago, revealed that his interest in the mortgage sector grew from witnessing predatory practices that often trap borrowers. “Home is a generational asset,” he said, “and we need to make sure it’s accessible to everyone.” He added that Rocket’s previous insularity is changing; the company now prioritizes community partnerships and acquisitions to strengthen its market position.
The CEO highlighted the strategic importance of the Latino demographic, noting NAHREP data that predicts Latinos will account for nearly 75 % of new homeowners in the next two decades. “Investing in products, services, and technology that serve this group is the best way to grow homeownership,” Krishna said, underscoring Rocket’s commitment to this community.
AI and data are central to Rocket’s plan. The firm spends roughly $500 million a year on these technologies, and Krishna described AI as “not a fad” but a transformative force for housing. He pointed out that many steps in buying and selling a home are ripe for automation and efficiency gains through AI, which could ultimately lower consumer costs.
Krishna also reflected on the broader industry landscape, noting that brokerage leadership changes and stock volatility have marked the year. Yet he remains optimistic that collaboration—between Rocket, Redfin, and Mr. Cooper—will drive innovation and better outcomes for buyers and sellers alike. “We are greater together than apart,” he concluded, inviting the audience to join in building a more inclusive and efficient home‑ownership experience.
