Yes, Rocket Mortgage and Rocket Money are connected, but Rocket Mortgage does not “own” Rocket Money in the traditional sense. Instead, both companies are part of Rocket Companies, Inc. (NYSE: RKT), a publicly traded financial services company.
How They Are Connected:
Parent Company:
- Rocket Companies, Inc. is the parent organization that owns both Rocket Mortgage and Rocket Money (formerly known as Truebill).
Rocket Mortgage:
- Rocket Mortgage is one of the largest online mortgage lenders in the U.S., providing home loans and refinancing services.
Rocket Money:
- Rocket Money is a personal finance management app that helps users track subscriptions, lower bills, and improve financial health.
Acquisition of Rocket Money:
- Rocket Companies acquired Truebill in December 2021 for $1.275 billion and later rebranded it to Rocket Money to align with its family of brands.
Why the Connection Matters:
- Rocket Money complements Rocket Mortgage by helping customers manage finances, potentially improving their financial position to qualify for a mortgage.
- The branding synergy under Rocket Companies creates a seamless financial ecosystem, offering services from budgeting to home loans.
So while Rocket Mortgage does not own Rocket Money, they are both under the Rocket Companies umbrella and share branding and strategic financial services.