Rocket Mortgage Company, LLC, is making another big move, this time acquiring North Texas-based Mr. Cooper in a $9.4 billion all-stock deal.
The news comes just weeks after Rocket purchased real estate listing company Redfin.
According to Rocket, with the acquisition of Mr. Cooper, which is headquartered in Coppell, the company will now represent one in every six mortgages in the United States. The deal also means that Detroit-based Rocket will absorb nearly seven million new clients.
“Rocket will bring together the homeownership experience at scale with the acquisitions of Mr. Cooper and Redfin. This allows Rocket to accelerate its AI-powered platform and remove the friction and complexities plaguing today’s homebuying process,” read Rocket’s March 31 press release.
Mr. Cooper Group Chairman and CEO Jay Bray said he looks forward to the future under the new arrangement.
“Mr. Cooper has been on a journey to transform the homeownership experience, and we have built the most advanced servicing platform in the mortgage industry,” he said.
“By combining Mr. Cooper and Rocket, we will form the strongest mortgage company in the industry, offering an end-to-end homeownership experience backed by leading technology and grounded in customer care.”
Last month, The Dallas Express reported that the housing market in the metroplex was showing signs of slowing, according to the most recent data published by HomesUSA.com. Despite year-over-year home sales being up 8% in February 2025, sales were down month-over-month. In January 2025, 1,847 homes sold in North Texas, but just 1,788 did in February.
Home prices in Dallas-Fort Worth have also softened. In February, the average home in North Texas was $494,145, down from $496,498 one month earlier.
Once the acquisition is finalized, Bray will report to Rocket CEO Varun Krishna. Mr. Cooper’s shareholders will obtain a fixed exchange ratio of 11 Rocket shares for each share of Mr. Cooper’s common stock they own.