Rocket Pro launches broker-built Quick Counter tool in November Power Play
Rocket Pro is rolling out Quick Counter, a new tool designed to help mortgage brokers compete for borrowers by building and delivering refinance loan estimates in real time.
The rollout is part of Rocket’s monthly Power Play, an initiative that Rocket Pro promised to its business partners back in February and has announced on the first Tuesday of each month. The November initiative features the winning idea from The Big Pitch competition at Rocket Pro’s RPX event in September.
Available within Rocket Pro Navigate, Quick Counter allows brokers to generate a competitive loan estimate while a client is still on the phone, rather than risk losing business by promising a callback.
The tool supports both cash-out and rate-and-term refinances, allowing brokers to adjust interest rates, points and loan terms in real time. Brokers can also evaluate different pricing scenarios, including options for lowering closing costs, to tailor an offer to a borrower’s needs.
“Every loan matters, and conversion matters in a really big way,” said Austin Niemiec, chief revenue officer of Rocket Mortgage. “There’s so many times out there, a borrower will call a broker with a competing loan estimate and ask, ‘Hey, can you beat it?’ And Quick Counter helps that broker work through the offer, compare pricing and then build a counteroffer right through this tool while on the phone with the client.”
The tool is the first of three broker-developed ideas Rocket committed to building after its Big Pitch competition, a broker tech innovation contest announced in June. The company received hundreds of submissions from Rocket Pro partners and brokers who do not currently work with the lender.
Rocket Pro narrowed the submissions to three finalists and paired each broker with its technology and product teams to turn the concepts into working prototypes. The finalists presented their ideas at RPX, where the broker community voted on the products.
Three projects greenlighted
Seth Hasan of West Capital Lending submitted Quick Counter and received the $100,000 first-place prize. The other finalists were Andrew Haff of Barren Hill Mortgage, whose Rocket Pro Right Track concept provides alternatives when a loan encounters an obstacle, and George Chevalier of Clearview Lending Solutions, whose Rocket Pro Signal concept identifies potential risks before they threaten a closing.
Rocket initially planned to select one winner and build the winning concept. Instead, it was announced at RPX that the company would develop all three ideas, awarding $60,000 to Haff and $40,000 to Chevalier.
Niemiec said Rocket moved from prototype to Quick Counter’s launch in less than 60 days, with Hasan and his team involved in reviewing the final product.
“We didn’t come up with this in a boardroom or us trying to guess what brokers want,” Niemiec said. “Not only did Seth and his team come up with the idea, we worked side by side with them to make sure that every single detail was how they envisioned, and then the broker community is the one that voted on it.”
Rocket plans to build the second- and third-place ideas as well, although Niemiec did not provide a specific rollout timeline. He said development is already underway and that the company does not intend to delay the releases for an extended period.
The latest announcement follows October’s Power Play, which introduced Orbit, a platform feature intended to help brokers access and track new benefits. Niemiec said the launch generated significant activity among Rocket’s account executives, who have been fielding calls and helping brokers understand how to use the feature.
Rocket also reported more than $3 billion in locks through its Compass credit since its introduction. The credit, which runs through the end of 2026, gives broker partners a pricing incentive to build relationships with Compass real estate agents and strengthen existing partnerships.
Niemiec said Rocket plans to reevaluate the Compass credit at the end of the year but pointed to continued momentum behind the program.
Source: www.housingwire.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.