Rocket Companies is owned by billionaire Dan Gilbert who owns a huge part of downtown Detroit. It's a big story in Michigan and people are wondering why a mortgage lender would want to own Redfin.
The fact that Redfin CEO, Glen Kelman, has agreed to stay on is a big plus to me. I always thought he was the founder but he is not. Rocket gains another top executive.
Vertical integration. Redfin will funnel purchase mortgage deal flow from their real estate transactions to Rocket, and Rocket financial professionals will pair potential real estate clients with Redfin agents.
The fact that Redfin CEO, Glen Kelman, has agreed to stay on is a big plus to me. I always thought he was the founder but he is not. Rocket gains another top executive.