$RKT

The FHFA announced that Fannie Mae and Freddie Mac will use a single loan-level price adjustment (LLPA) grid for both FICO and VantageScore 4.0. This removes a 20-point downward adjustment previously applied to VantageScore. Classic FICO remains an option but is required for manually underwritten loans. VantageScore 4.0 may help more borrowers qualify for mortgages, with Rocket Mortgage reporting average savings of $1,600 at closing for some borrowers.

Rocket Mortgage will switch to VantageScore 4.0 from FICO for eligible loans, including those backed by Fannie Mae, Freddie Mac, and VA loans, starting Q4 2026. The change aims to qualify more borrowers and reduce costs, according to the company. Fannie Mae and Freddie Mac have removed a 20-point haircut on VantageScore-backed loans, equalizing pricing with FICO.

Rocket Mortgage, part of Rocket Companies (RKT), will switch to VantageScore 4.0 for eligible direct-to-consumer loans by Q4 2026. Testing showed more clients qualified, costs fell, and average savings were $1,600 at closing. FICO will still be used for certain loan types. Rocket Pro will offer both scores to brokers.

FASB proposed changes to MSR recapture accounting, aiming for consistency. BTIG notes lenders like loanDepot, Rithm, and Rocket already include recapture in valuations, while others like Onity, PennyMac, and UWM do not. KBW sees this as a transparency initiative but expects no financial statement impact. FASB seeks feedback on broadening the scope beyond residential MSRs by Nov. 9.

Rocket Companies Inc. (RKT) stock rose 3.07% on September 22, 2026, driven by positive mortgage demand signals. The company reported $2.41B in quarterly revenue and $230M in net income, but negative free cash flow of -$1.41B. RKT's debt-to-equity ratio is 1.16, and it has a P/E ratio of 55.9. Recent developments include a settlement with the FTC and Zillow, a new CEO for Redfin, and the launch of an AI assistant called Rowan.

Rocket Companies (RKT) reported market-share gains in mortgage lending, with purchase market share at 6.2% and refinance share at 14.3%. CEO Jay Brown highlighted synergies from Redfin and Mr. Cooper integrations, including $400M in expense savings. About 70% of RKT's revenue now comes from less rate-sensitive products, and the company has a strong balance sheet with $3B in cash and $11B in liquidity.

Rocket Companies (RKT) CEO Krishna Varun sold 185,258 shares ($2.6M) to meet tax obligations, retaining 1,958,664 shares. RKT's stock has a -33% 1Y return, $38.7B market cap, $9.7B TTM revenue, and $471.1M TTM net income. The company's fundamentals show mixed recovery, with revenue and operating margin rebounding but free cash flow and net debt worsening.

The Federal Reserve raised interest rates to 3.75%-4%, the first hike in three years, with unanimous FOMC support. Most members expect one more hike this year, with no cuts until 2028. Higher rates may negatively impact housing and home improvement stocks, as mortgage applications fell 19% year-over-year. Fed Chair Kevin Warsh emphasized inflation concerns, noting it remains elevated. Some stocks, like Rocket Companies and Home Depot, may benefit if rates drop and housing activity increases.

Pennymac and UWM raised their conforming loan limits to $850,000 and $847,440, respectively, ahead of the FHFA's annual announcement. Rocket, CrossCountry, and Rate also increased their limits. Pennymac reported $16.6B in funded volume for Q3. UWM expanded non-warrantable condo guidelines. The MBA survey showed a 46% drop in mortgage applications YoY.

Bray Jesse K (Pres & CEO, Rocket Mortgage) sold 225,000 indirectly-held shares of Rocket Companies, Inc. (RKT) at $13.11 ($2.95M total) on 2026-09-15 under a Rule 10b5-1 trading plan.