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America's Largest Mortgage Brand Brings Innovation to Canada as Edison Financial Changes Name to Rocket Mortgage

Rocket Mortgage in Canada will deliver a tech-driven client experience to revolutionize the mortgage process for Canadians, just as its sister company has done in the U.S.

WINDSOR, ON, July 12, 2022 /CNW/ -- Edison Financial, a rapidly expanding digital mortgage broker, today announced it will officially change its name to Rocket Mortgage Canada on August 8, 2022, doing business under the brand Rocket Mortgage throughout the country. The move is more than a rebrand, the change reflects the company's mission to revolutionize the Canadian mortgage industry with an emphasis on harnessing technology to simplify the home loan process, just as sister company under the Rocket Companies (NYSE:RKT), Rocket Mortgage, LLC, has done successfully in the U.S.

"Our mission when we launched over two years ago was to use technology to improve the mortgage experience in Canada, making life easier for homebuyers and homeowners," said Hash Aboulhosn, President of Rocket Mortgage in Canada. "Today's announcement is the first step in bringing Canadians a vastly-improved mortgage process through technology, innovation and client service. I'm excited for what's to come as we continue to positively impact the way Canadians view getting a home loan."

Windsor-based Edison Financial began serving clients in March 2020 and has already reached $1 billion (CAD) in annualized submitted volume – making it the first mortgage brokerage in Canada to reach that milestone so quickly.

The company demonstrated the strength of its business model as it expanded from offering home loans in Ontario, at launch, to now providing mortgages in every province – primarily from its headquarters in downtown Windsor. The Edison Financial team has grown along with the company, starting with just four team members in early 2020 to more than 140 at present.

"In America, Rocket Mortgage is synonymous with industry-leading, proprietary technology that creates an unmatched client experience. We've spent the last 37 years defining and redefining the way mortgages should be done in the U.S. – and now we have the opportunity through this rebrand to share everything we've learned with our neighbors to the north," said Bob Walters, CEO of Rocket Mortgage in the U.S. "Our process removes the complexity of getting a home loan – replacing it with a fast, enjoyable experience. This is something that has been lacking in the Canadian market, and we are eager to help our sister company show Canadians just how simple getting a mortgage can be."

Today, Edison Financial is a mortgage brokerage with access to thousands of loan products from more than 50 lenders. The company works closely with banks and lenders to match clients with the best product for their financial needs.

In addition to changing its name, Rocket Mortgage also announced plans to become a direct lender in Canada later this year. The company's agents regularly speak with clients from all walks of life, putting Rocket Mortgage in the unique position to utilize the insights gained from those conversations to develop impactful loan products to meet client needs.

After becoming a lender in Canada, Rocket Mortgage will continue offering options from other lender partners alongside its own products – connecting homebuyers with the best solution for their individual circumstance.

Edison Financial's appetite for growth, and building strong solutions for homeowners and buyers, is a direct reflection of the company's commitment to revolutionizing the Canadian mortgage market. Clients who are currently in the mortgage process will not be affected by the name change.

Canadians can visit RocketMortgage.ca for more information or to apply for a home loan.

About Edison Financial / Rocket Mortgage

Edison Financial is a digital mortgage broker and a part of Rocket Companies (NYSE: RKT). Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, LLC, the largest mortgage lender in the U.S. Founded in 2020, Edison Financial aims to transform and modernize the mortgage experience in Canada by providing a streamlined process for individuals looking to purchase a home or refinance their mortgage. Edison Financial's mortgage agents aim to deliver the highest level of client service. For more information, or to apply for a mortgage, visit EdisonFinancial.ca.

About Rocket Mortgage, LLC

Detroit-based Rocket Mortgage, the U.S.'s largest home mortgage lender and part of Rocket Companies (NYSE: RKT), enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Rocket Mortgage closed $351 billion dollars of mortgage volume across all 50 states in 2021.

Rocket Mortgage moved its headquarters to downtown Detroit in 2010. The company generates loan production from web centers located in Detroit, Cleveland and Phoenix and operates a centralized loan processing facility in Detroit. Rocket Mortgage ranked highest in the country for customer satisfaction for mortgage servicing by J.D. Power the past eight straight years, 2014 – 2021.

Rocket Companies, Rocket Mortgage's parent company, ranked #7 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 19 consecutive years.

For more information and company news visit RocketMortgage.com/PressRoom.

About Rocket Companies

Rocket Companies is a Detroit-based FinTech platform company consisting of personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Amrock, Rocket Auto, Rocket Loans, Truebill, Lendesk, Edison Financial, Core Digital Media, Rocket Central and Rock Connections.

Since 1985, Rocket Companies has been obsessed with helping its clients achieve the American dream of home ownership and financial freedom. The Company offers industry-leading client experiences powered by its simple, fast and trusted digital solutions. Rocket Companies ranked #7 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 19 consecutive years. For more information, please visit our Corporate Website or Investor Relations Website.

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View original content:https://www.prnewswire.com/news-releases/americas-largest-mortgage-brand-brings-innovation-to-canada-as-edison-financial-changes-name-to-rocket-mortgage-301584480.html

SOURCE Edison Financial

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View original content: http://www.newswire.ca/en/releases/archive/July2022/12/c2761.html