Rocket Mortgage forms alliance with State Farm Insurance

by Candyd Mendoza19 Jul 2019

Rocket Mortgage, a subsidiary of Quicken Loans, has partnered with insurer State Farm to offer Rocket Mortgage loan products to State Farm customers.

Under the terms of the partnership, Rocket will provide State Farm with technology that will enable its agents to offer mortgages as licensed loan originators. The loans include conventional Fannie Mae or Freddie Mac, FHA, VA, USDA, and jumbo mortgages.

“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,” Quicken Loans Chief Executive Officer Jay Farner said.

The two companies will roll out their combined services over the coming months, with State Farm agents originating the new mortgage loans through Rocket Mortgage.

“Our goal is to help people live life confidently,” said Joe Monk, senior vice president of financial services at State Farm. “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.”