Rocket Mortgage enters exclusive partnership with Santander Bank

"This is just the beginning of what we believe will be a long relationship"

Rocket Mortgage enters exclusive partnership with Santander Bank

Santander Bank has tapped Rocket Mortgage to be its exclusive preferred mortgage provider.

The bank announced partnering with Rocket to provide its clients with dedicated resources and access to Rocket Mortgage’s experts via phone, email or online chat. Santander Private Clients and employees who close loans with Rocket will also receive exclusive discounts on loan and closing costs.

Rocket Mortgage CEO Bob Walters described the partnership between Rocket Mortgage and Santander as a perfect fit.

“Both companies are passionate about delivering exceptional client experiences,” he said. “Rocket has spent decades building industry-leading technology to make every step in the mortgage process easier. We’re excited to offer a world-class experience to Santander clients. This is just the beginning of what we believe will be a long relationship between our companies as we innovate together to develop more ways to delight our clients.”

Read more: Rocket Companies hit by fall in net income

Rocket Companies revealed its second-quarter financial results last week. The Detroit-based company’s net income plunged from about $1 billion in Q2 2021 to just $60 million in Q2 2022. Jay Farner, vice chairman and CEO of Rocket Companies, blamed the decline on challenging market conditions, volatility in interest rates, and falling consumer sentiment.

“At Santander, we place the customer at the center of our business, and I’m pleased to be working with Rocket to deliver a convenient and simplified digital mortgage experience for our customers,” said Patrick Smith, head of consumer and business banking at Santander Bank. “Our relationship with Rocket Mortgage is another example of how Santander Bank is evolving our business and continuing to pursue opportunities for our customers to save, invest and manage their money at Santander.”