Rocket Companies Enters Material Definitive Agreement

TL;DR

Rocket Companies just signed a big deal, expect financial moves.

AI Summary

On December 26, 2024, Rocket Companies, Inc. entered into a material definitive agreement. This agreement also created a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The filing was made on January 2, 2025.

Why It Matters

This filing indicates a significant new agreement for Rocket Companies, potentially impacting its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• Rocket Companies, Inc. (company) — Registrant
• December 26, 2024 (date) — Date of earliest event reported
• January 2, 2025 (date) — Filing date
• 1050 Woodward Avenue Detroit, MI 48226 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.00001 — tered Class A common stock, par value $0.00001 per share RKT New York Stock Exchan
• $1.0 billion — 026, increased the facility amount from $1.0 billion to $1.5 billion and effectuated certain
• $1.5 billion — he facility amount from $1.0 billion to $1.5 billion and effectuated certain other technical
• $27.5 billion — redit and early buy out facilities, was $27.5 billion. This figure compares with $24.5 billio
• $24.5 billion — 27.5 billion. This figure compares with $24.5 billion as of September 30, 2024 and $24.3 bill
• $24.3 billion — .5 billion as of September 30, 2024 and $24.3 billion as of December 31, 2023. Item 2.03 Cre

Filing Documents

• eh250574001_8k.htm (8-K) — 26KB
• 0000950142-25-000011.txt ( ) — 194KB
• rkt-20241226.xsd (EX-101.SCH) — 3KB
• rkt-20241226_lab.xml (EX-101.LAB) — 33KB
• rkt-20241226_pre.xml (EX-101.PRE) — 22KB
• eh250574001_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 26, 2024, Rocket Mortgage, LLC (the "Company"), a Michigan limited liability company and indirect subsidiary of Rocket Companies, Inc., as seller, Morgan Stanley Bank, N.A. ("Morgan Stanley Bank"), as buyer, and Morgan Stanley Mortgage Capital Holdings LLC ("Morgan Stanley Mortgage"), as agent for the buyer, entered into Amendment No. 1 to the Master Repurchase Agreement (the "MRA Amendment") and the related Amendment No. 1 to the Pricing Side Letter, which extended the expiration date of the existing Master Repurchase Agreement, dated as of May 7, 2024 by and between Morgan Stanley Bank, as buyer, Morgan Stanley Mortgage, as agent for the buyer, and the Company, as seller (as amended, the "Morgan Stanley Master Repurchase Agreement"), from May 6, 2026 to December 23, 2026, increased the facility amount from $1.0 billion to $1.5 billion and effectuated certain other technical changes to the Morgan Stanley Master Repurchase Agreement. The foregoing description of the MRA Amendment does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the MRA Amendment, a copy of which will be filed with the annual report on Form 10-K of Rocket Companies, Inc. for the period ending December 31, 2024. Following the execution of the MRA Amendment and the related Amendment No. 1 to the Pricing Side Letter for the Morgan Stanley Master Repurchase Agreement, as of December 26, 2024, the total funding capacity of the Company, including pursuant to all master repurchase agreements, early funding facilities, unsecured lines of credit, MSR lines of credit and early buy out facilities, was $27.5 billion. This figure compares with $24.5 billion as of September 30, 2024 and $24.3 billion as of December 31, 2023.

03 Creation of a Direct Financial

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information contained in Item 1.01 above is hereby incorporated in this Item 2.03 by reference.

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: January 2, 2025 ROCKET COMPANIES, INC. By: /s/ Tina V. John Name: Tina V. John Title: Executive Legal Counsel and Secretary