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- Rocket Companies to buy Mr. Cooper Group for $9.4 billion
Rocket Companies to buy Mr. Cooper Group for $9.4 billion
Plus: NAR cuts 61 jobs, highlights strategic shift
🌸 Happy New Month! No pranks here —just the latest on Rocket Companies big acquisition, NAR layoffs, and Zillow’s home trends.
Today's newsletter is 722 words — a 2.5-minute read.
1. Rocket Companies to buy Mr. Cooper Group for $9.4 billion
Rocket Companies is set to acquire Mr. Cooper Group Inc. in an all-stock deal for $9.4 billion in equity, the companies announced yesterday.
The combined company will service more than $2.1 trillion in loan volume across about 10 million clients, which is equal to about one in every six mortgages across the nation.
Mr. Cooper shareholders will receive a fixed exchange ratio of 11.0 Rocket shares for each share of Mr. Cooper common stock, representing $143.33 per share value based on the closing price as of March 28, 2025.
Mr. Cooper Group Chairman and CEO Jay Bray will lead Rocket Mortgage, the company's flagship business, as President and CEO.
“By combining Mr. Cooper and Rocket, we will form the strongest mortgage company in the industry, offering an end-to-end homeownership experience backed by leading technology and grounded in customer care. I am deeply grateful for the dedication of the Mr. Cooper team and look forward to our continued work as we lead our industry into the future of homeownership.”
2. NAR cuts 61 jobs, highlights strategic shift
NAR announced staffing changes on Friday that are reportedly aimed at reducing costs, streamlining operations, and refocusing on member services.
The restructuring efforts includes the elimination of 41 positions and 20 unfilled roles across several departments, including digital strategy, public relations, member engagement, and finance. NAR said the move aims to reallocate resources to advocacy, research, data, and education functions.
“The industry is changing, and it is our responsibility to lead and change with it. As we continue managing our finances to meet the challenges of today and tomorrow, we need to invest in the best people, adopt the right processes, and apply the most advanced, cost-effective technology while remaining prudent financial stewards of the enterprise.”
A MESSAGE FROM DAVE YOUR MORTGAGE GUY
Your client got denied for a VA loan? Now what…
Did you know there is such a thing as a Manual VA Loan Approval?
Yep sure is and in this video I break it down!
3. Catch up quick
☕ Can I afford a house if I stop buying lattes? (Hubspot)
💰 14,000-acre Texas ranch in the same family for 70 years lists for $22M. (Chron)
🤦♂️ Most Gen Z sellers have regrets over pandemic home purchases. (Opendoor)
🏡 Federal judge reinstates fair housing grants canceled by HUD. (NFHA)
🤝 RentSpree and Docusign announce partnership to help streamline rental process. (Yahoo)
🎥 Fun read: Ransom Canyon trailer takes you to Texas for romance-fueled drama. (Netflix)
4. Lawmakers introduce bill to boost housing vouchers for growing cities
Yesterday, Democratic lawmakers in the Senate and House of Representatives introduced the Housing Vouchers Fairness Act to update HUD’s outdated Housing Choice Voucher formula.
The Housing Choice Voucher Program, or Section 8, is the federal government's main program for assisting low-income families, the elderly, and the disabled in affording safe housing in the private market. However, voucher allocations are still based on outdated population data from the 2000 census.
The Housing Vouchers Fairness Act addresses this disparity by authorizing an additional $2 billion for the Housing Choice Voucher program, ensuring public housing authorities in the 25 fastest-growing cities with populations over 100,000 can secure enough vouchers to meet local needs.
5. Homes with nature-inspired design features sell for as much as 3.5% more
New research from Zillow shows which features inside and outside homes have a direct impact on sale prices. On average, homes with these features sell for an average of $12,500 more, as many buyers are willing to pay a premium for bold, nature-inspired design.
Here’s a breakdown of what Zillow found raises the sale price:
Indoor features:
| Outdoor features:
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