State Farm Partners with Rocket Mortgage
State Farm and Rocket Mortgage by Quicken Loans have 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. 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.” – Joe Monk, Senior Vice President, Financial Services for State Farm.
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 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. 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.” – Jay Farner, CEO of Quicken Loans.
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.