Rocket Pro becomes sponsor of Broker Action Coalition

In a move that underscores Rocket's growing influence in the broker space, Rocket Pro has become the first major lender to sponsor the Broker Action Coalition, the trade group announced Wednesday at its advocacy summit in Washington, D.C.

The move comes just months after former BAC CEO Katie Sweeney took the reins of advocacy at Rocket— as the Detroit-based lending giant doubles down on its bid to become the go-to partner for mortgage brokers.

BAC was founded in 2022 by Sweeney and Brendan McKay, the trade group's chief advocacy officer, with the goal of "representing as many people that are part of the channel as possible." Both mortgage stakeholders were previously at the Association of Independent Mortgage Experts, 

"I think there was a little bit of a stigma on which lender we were going to choose sides with, between the two behemoths that like to battle with one another and it was really important to us that we didn't represent that or reflect it," said Sweeney while reflecting on the creation of BAC on Wednesday.

"We worked really hard to put people who came from all backgrounds, all channel experiences, lenders, brokers, everyone combined on our board," she added.

Regarding Rocket Pro's sponsorship, Sweeney said that Rocket is "going through a fantastic evolution of really expanding its commitment to the broker channel."

"Partnerships with the BAC and some others that we're excited to announce soon shows that we want to put the resources we have in the hands of people who are doing the work," she said.

McKay himself, who is at the helm of BAC, said the relationship will benefit the whole broker community, commenting that "Rocket is a company that has more legislative resources than most companies."

"The resources and advocacy that they do for our industry is powerful and the idea of them aligning with the BAC to advocate for the wholesale channel is a plus for every broker in the country including those who do not work with Rocket," he added.

McKay acknowledged the Rocket sponsorship could deter some brokers from joining the trade group, but said he hopes that won't be the case.

"There is divisiveness in the broker community that I think is ridiculous and it belongs on social media not in Washington D.C.," he said. "The BAC doesn't care what lender you work with, it's irrelevant. Not only does BAC not care, Congress doesn't care either and it could actually hurt us the moment politicians figure out there's a divide. We welcome everyone."