Fairway, for its part, told National Mortgage News that UWM's agreement with brokers limits their opportunity to find lower interest rates. Meanwhile, Rocket tells the Wall Street Journal that its lending platform has grown market share since UWM announced the move. 'They understand that Mat and UWM is here to protect the broker channel and consumers because consumers get lower rates when they go through a broker.

Rocket Mortgage features and that you will love. YOURgage helps customers to save by adjusting their loan to their needs. Quicken Loans uses YOURgage, which will give customers greater flexibility.

Rocket Mortgage also allows you to apply for a loan from anywhere using a. Rocket Mortgage offers fixed rates from 8 to 30 years. It’s certainly quick: Rocket Mortgage says it can approve a mortgage loan in just eight minutes. The company says it saves users both time and money. 'The reality is, brokers are all in,' Ishbia said. The Rocket Mortgage platform (and the online process it offers) is one of Quicken Loans’ biggest selling points. Ishbia claims Quicken Loans is stunting growth in the mortgage sector, though he said he does not accuse the company of illegal practices.

Quicken, the Detroit-based lending giant owned by Rocket Companies, is the nation's top mortgage lender, followed by UWM. Ishbia told the show's host Jim Cramer that the Pontiac, Michigan-based company gained an upper hand in the ultimatum: Out of 12,000 brokers, not even 500, chose to continue partnering with Quicken, he said. 'I know how different people want to portray it, but the decision was not about doing things exclusively,' CEO Mat Ishbia said in an appearance on CNBC's ' Mad Money.'

Quicken loans vs rocket mortgage