Rocket Companies Enters New Agreement, Incurs Financial Obligation

TL;DR

Rocket Companies just signed a new deal and owes money, details TBD.

AI Summary

On May 31, 2024, Rocket Companies, Inc. entered into a material definitive agreement and created a direct financial obligation. The filing does not specify the other party involved in the agreement or the exact nature and amount of the financial obligation.

Why It Matters

This filing indicates Rocket Companies has taken on new financial commitments, which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — The creation of a direct financial obligation without immediate disclosure of specifics suggests potential financial commitments that warrant closer monitoring.

Key Players & Entities

• Rocket Companies, Inc. (company) — Registrant
• May 31, 2024 (date) — Date of earliest event reported
• 1050 Woodward Avenue (address) — Principal executive offices
• Detroit, MI (location) — City and State of principal executive offices

FAQ

Key Financial Figures

• $0.00001 — stered Class A common stock, par value $0.00001 per share RKT New York Stock Exchange
• $1.5 billion — 026, decreased the facility amount from $1.5 billion to $1.0 billion and effectuated certain
• $1.0 billion — he facility amount from $1.5 billion to $1.0 billion and effectuated certain other technical
• $24.8 billion — redit and early buy out facilities, was $24.8 billion. This figure compares with $24.3 billio
• $24.3 billion — 24.8 billion. This figure compares with $24.3 billion as of March 31, 2024 and December 31, 2

Filing Documents

• rkt-20240531.htm (8-K) — 29KB
• 0001805284-24-000085.txt ( ) — 150KB
• rkt-20240531.xsd (EX-101.SCH) — 2KB
• rkt-20240531_lab.xml (EX-101.LAB) — 21KB
• rkt-20240531_pre.xml (EX-101.PRE) — 12KB
• rkt-20240531_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On May 31, 2024, certain consolidated subsidiaries of Rocket Companies, Inc., including QL Ginnie EBO, LLC, a Delaware limited liability company, as seller (" Seller "), QL Ginnie REO, LLC, a Delaware limited liability company, as REO subsidiary (" REO Subsidiary " and together with Seller, the " Seller Parties "), and Rocket Mortgage, LLC, a Michigan limited liability company, as guarantor (the " Company "), and JPMorgan Chase Bank, National Association, as buyer (" Buyer "), entered into (1) the Amended and Restated Master Repurchase Agreement dated as of May 31, 2024 (the " Amended and Restated MRA "), which amended and restated the terms of the existing Master Repurchase Agreement dated as of December 14, 2017, as amended, by and between the Seller Parties, the Company and the Buyer (the " Master Repurchase Agreement "), (2) the Pricing Side Letter relating to the Transaction Pool (EBO) dated as of May 31, 2024, incorporated by reference into the Amended and Restated MRA (the " EBO PSL ") and (3) the Pricing Side Letter relating to the Transaction Pool (New Orig) dated as of May 31, 2024, incorporated by reference into the Amended and Restated MRA (the " New Orig PSL ", together with the EBO PSL, the " Pricing Side Letters" ). The Amended and Restated MRA and Pricing Side Letters extended the termination date of the Master Repurchase Agreement from May 31, 2024 to May 29, 2026, decreased the facility amount from $1.5 billion to $1.0 billion and effectuated certain other technical changes to the Master Repurchase Agreement. The foregoing description of the Amended and Restated MRA does not purport to be complete and is subject to, and qualified in its entirety by reference to the full text of the Amended and Restated MRA, a copy of which will be filed with the quarterly report on Form 10-Q of Rocket Companies, Inc. for the period ending June 30, 2024. Following the execution of the Amended and Restated M

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 3, 2024 ROCKET COMPANIES, INC. By: /s/ Tina V. John Name: Tina V. John Title: Executive Legal Counsel and Secretary