Saying the public has embraced the brand at a “lightning pace,” Quicken Loans will officially rename the company Rocket Mortgage on July 31.
When Rocket Mortgage was launched in 2015, it described Quicken Loans’ digital, online application process. After it was popularized in a 2016 Super Bowl ad, the Rocket Mortgage process helped Quicken Loans become the nation’s biggest mortgage lender.
Now, thanks to ongoing brand marketing including ubiquitous sports sponsorships, it seems to just make more sense to call the company itself Rocket Mortgage — a brand with “extremely high affinity metrics that eclipse those of Quicken Loans,” the company said in announcing the move.
Brand affinity — which can be gauged using metrics like social media mentions and prevalence in keyword searches — is highly sought after, and the Rocket Mortgage brand does pop up often in the world of sports.
Quicken Loans Arena, the home of the Cleveland Cavaliers, was renamed Rocket Mortgage FieldHouse in 2019 (Quicken Loans founder and Chairman Dan Gilbert is an owner of the team). When Michigan State University athletic teams take to the field (or the ice, or the court), they’re introduced as the “MSU Spartans Presented by Rocket Mortgage.”
The PGA TOUR’s Rocket Mortgage Classic not only helps the brand show up on TV, but in virtual billboards displayed on the screens of video games like Nintendo Switch, as one of the company’s fans recently pointed out on Twitter.
Quicken Loans is part of Rocket Companies, which trades on the New York Stock Exchange as “RKT.” Other “digital first” companies under the Rocket Companies umbrella — including Rocket Homes, Rocket Auto and Rocket Loans — have already adopted the branding.
Jay Farner | Photo credit: Rocket Companies
“With this official name change, we will have a consistent brand that is synonymous with innovation and excellence,” said Rocket Companies CEO Jay Farner, in a statement.
Quicken said clients, including those who are in the process of taking out a mortgage, “will not see any difference to the digital experience.” Documents, letters and other communications that previously were labeled “Quicken Loans” will instead come from “Rocket Mortgage.”
The QuickenLoans.com website, which the company says is “one of the most visited in personal finance,” will at first redirect visitors to apply for a home loan with Rocket Mortgage, and eventually “transition to accomplish other important objectives for Rocket Companies.”
