State Farm® and Rocket Mortgage by Quicken Loans® announced an alliance which will allow State Farm agents to help more clients in more ways by originating Rocket Mortgage products for their customers.
“Our goal is to help people live life confidently. An important component of that is helping people achieve their dream of homeownership,” says Joe Monk, senior vice president, Financial Services for State Farm. “As the nation’s largest mortgage lender, Rocket Mortgage brings a proven track record of strong product offerings, consistent financial strength and award-winning service. We are excited about this opportunity to help even more people through the power of this alliance.”
Rocket Mortgage is creating new technology that will allow the State Farm agents to offer a Rocket Mortgage loan as a licensed loan originator. State Farm agents can provide its customers conventional Fannie Mae or Freddie Mac, FHA, VA, USDA and Jumbo mortgages. Clients will get the technology and mortgage process Quicken Loans is known for, with the personal touch from the State Farm agent with whom they have a relationship.
The rollout will take place over the next several months, and all new mortgage loans will be originated by State Farm agents through Rocket Mortgage. Current State Farm Bank mortgage customers will not be impacted.
“We aim to provide the best mortgage experience possible, no matter where the client is or how they connect with us,” says Jay Farner, CEO of Quicken Loans. “Through this alliance, we will be able to combine Rocket Mortgage’s powerful mortgage processing and underwriting technology with the advice and strong relationships built from the power of the State Farm agent network.”
J.D. Power has ranked Quicken Loans the highest in customer satisfaction for primary mortgage origination nine straight years, 2010 through 2018, receiving more accolades than any other lender.
State Farm and its affiliates are the largest providers of auto and home insurance in the United States with nearly 19,000 agents serving approximately 83 million policies and accounts.
Barclays advised State Farm in connection with the mortgage alliance.
For more information, please visit www.rocketmortgage.com.
