Rocket Companies (RKT) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 03, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-39432
Entity Registrant Name	Rocket Companies, Inc.
Entity Central Index Key	0001805284
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4946470
Entity Address, Address Line One	1050 Woodward Avenue
Entity Address, City or Town	Detroit
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48226
City Area Code	313
Local Phone Number	373-7990
Title of 12(b) Security	Class A common stock, par value $0.00001 per share
Trading Symbol	RKT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Class A common stock
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		135,133,288
Class D common stock
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		1,848,879,483

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 2,233,667	$ 1,971,085
Restricted cash	145,978	83,018
Mortgage loans held for sale, at fair value	23,251,936	22,865,106
Mortgage servicing rights (“MSRs”), at fair value	4,701,045	2,862,685
MSRs collateral for financing liability, at fair value	0	205,033
Notes receivable and due from affiliates	9,671	22,172
Property and equipment, net of accumulated depreciation and amortization of $549,657 and $497,812, respectively	253,886	211,161
Deferred tax asset, net	588,507	519,933
Lease right of use assets	328,361	238,546
Loans subject to repurchase right from Ginnie Mae	2,306,673	5,696,608
Other assets	941,843	941,477
Total assets	35,809,025	37,534,602
Liabilities
Funding facilities	16,623,031	17,742,573
Lines of credit	75,000	375,000
Senior Notes, net	2,976,439	2,973,046
Early buy out facility	2,219,319	330,266
MSRs financing liability, at fair value	0	187,794
Accounts payable	347,288	251,960
Lease liabilities	381,104	272,274
Forward commitments, at fair value	35,795	506,071
Investor reserves	80,321	87,191
Notes payable and due to affiliates	29,892	73,896
Tax receivable agreement liability	669,738	550,282
Loans subject to repurchase right from Ginnie Mae	2,306,673	5,696,608
Other liabilities	878,613	605,485
Total liabilities	26,623,213	29,652,446
Equity
Additional paid-in capital	367,860	282,743
Retained earnings	336,594	207,422
Accumulated other comprehensive income	124	317
Non-controlling interest	8,481,214	7,391,654
Total equity	9,185,812	7,882,156
Total liabilities and equity	35,809,025	37,534,602
Class A common stock
Equity
Common stock	1	1
Class B common stock
Equity
Common stock	0	0
Class C common stock
Equity
Common stock	0	0
Class D common stock
Equity
Common stock	19	19
IRLCs
Assets
Derivatives, at fair value	794,258	1,897,194
Forward commitments
Assets
Derivatives, at fair value	$ 253,200	$ 20,584

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property and equipment, accumulated depreciation and amortization	$ 549,657	$ 497,812
Class A common stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock authorized (shares)	10,000,000,000	10,000,000,000
Common stock issued (shares)	137,367,428	115,372,565
Common stock outstanding (shares)	137,367,428	115,372,565
Class B common stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock authorized (shares)	6,000,000,000	6,000,000,000
Common stock issued (shares)	0	0
Common stock outstanding (shares)	0	0
Class C common stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock authorized (shares)	6,000,000,000	6,000,000,000
Common stock issued (shares)	0	0
Common stock outstanding (shares)	0	0
Class D common stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock authorized (shares)	6,000,000,000	6,000,000,000
Common stock issued (shares)	1,848,879,483	1,869,079,483
Common stock outstanding (shares)	1,848,879,483	1,869,079,483

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Gain on sale of loans
Gain on sale of loans excluding fair value of MSRs, net	$ 1,746,971	$ 3,443,885	$ 5,610,627	$ 8,814,236
Fair value of originated MSRs	907,242	836,557	2,937,517	2,041,899
Gain on sale of loans, net	2,654,213	4,280,442	8,548,144	10,856,135
Loan servicing (loss) income
Servicing fee income	334,348	272,158	970,058	779,093
Change in fair value of MSRs	(341,361)	(392,688)	(556,201)	(1,985,545)
Loan servicing (loss) income, net	(7,013)	(120,530)	413,857	(1,206,452)
Interest income
Interest income	129,963	79,890	311,853	231,971
Interest expense on funding facilities	(72,778)	(69,364)	(205,000)	(162,580)
Interest income, net	57,185	10,526	106,853	69,391
Other income	410,345	445,757	1,252,845	1,250,481
Total revenue, net	3,114,730	4,616,195	10,321,699	10,969,555
Expenses
Salaries, commissions and team member benefits	870,010	816,408	2,552,679	2,354,021
General and administrative expenses	313,405	280,705	867,639	763,962
Marketing and advertising expenses	316,471	250,558	943,999	670,749
Depreciation and amortization	19,577	15,329	55,470	47,633
Interest and amortization expense on non-funding debt	34,163	38,016	104,772	104,291
Other expenses	135,415	158,113	467,584	386,024
Total expenses	1,689,041	1,559,129	4,992,143	4,326,680
Income before income taxes	1,425,689	3,057,066	5,329,556	6,642,875
Provision for income taxes	(32,830)	(61,683)	(122,709)	(84,363)
Net income	1,392,859	2,995,383	5,206,847	6,558,512
Net income attributable to non-controlling interest	(1,317,522)	(2,937,480)	(4,946,688)	(6,500,609)
Net income attributable to Rocket Companies	$ 75,337	$ 57,903	$ 260,159	$ 57,903
Earnings per share of Class A common stock
Basic (in dollars per share)	$ 0.55	$ 0.54	$ 2	$ 0.54
Diluted (in dollars per share)	$ 0.54	$ 0.54	$ 2	$ 0.54
Weighted average shares outstanding
Basic (shares)	137,664,471	106,265,422	129,902,253	106,265,422
Diluted (shares)	1,990,828,351	106,265,422	135,392,670	106,265,422
Comprehensive income
Net income	$ 1,392,859	$ 2,995,383	$ 5,206,847	$ 6,558,512
Cumulative translation adjustment	(995)	410	(194)	(630)
Unrealized (loss) gain on investment securities	(3,639)	(66)	(3,475)	7,021
Comprehensive income	1,388,225	2,995,727	5,203,178	6,564,903
Comprehensive income attributable to non-controlling interest	(1,313,201)	(2,937,826)	(4,943,273)	(6,507,002)
Comprehensive income attributable to Rocket Companies	$ 75,024	$ 57,901	$ 259,905	$ 57,901

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	IPO	Underwriters option	Prior to reorganization transactions	Subsequent to reorganization transactions	Common StockClass A common stock	Common StockClass A common stockIPO	Common StockClass A common stockUnderwriters option	Common StockClass D common stock	Common StockClass D common stockIPO	Common StockClass D common stockUnderwriters option	Additional Paid-in Capital	Additional Paid-in CapitalIPO	Additional Paid-in CapitalUnderwriters option	Additional Paid-in CapitalSubsequent to reorganization transactions	Retained Earnings	Retained EarningsSubsequent to reorganization transactions	Net Parent Investment	Net Parent InvestmentPrior to reorganization transactions	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Prior to reorganization transactions	Accumulated Other Comprehensive Income (Loss)Subsequent to reorganization transactions	Total Non-controlling Interest	Total Non-controlling InterestIPO	Total Non-controlling InterestPrior to reorganization transactions	Total Non-controlling InterestSubsequent to reorganization transactions
Beginning Balance at Dec. 31, 2019	$ 3,515,555					$ 0			$ 0			$ 0				$ 0		$ 3,510,698		$ (151)			$ 5,008
Beginning Balance (shares) at Dec. 31, 2019						0			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	99,047																	99,487					(440)
Other comprehensive income (loss)	(1,760)																			(1,439)			(321)
Net transfers to Parent	21,919																	21,919
Share-based compensation, net	29,058																	29,049					9
Ending Balance at Mar. 31, 2020	3,663,819					$ 0			$ 0			0				0		3,661,153		(1,590)			4,256
Ending Balance (shares) at Mar. 31, 2020						0			0
Beginning Balance at Dec. 31, 2019	3,515,555					$ 0			$ 0			0				0		3,510,698		(151)			5,008
Beginning Balance (shares) at Dec. 31, 2019						0			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	6,558,512
Other comprehensive income (loss)	(630)
Unrealized gain (loss) on investment securities	7,021
Ending Balance at Sep. 30, 2020	6,360,736					$ 1			$ 19			272,806				57,568		0		288			6,030,054
Ending Balance (shares) at Sep. 30, 2020						115,372,565			1,869,079,483
Beginning Balance at Mar. 31, 2020	3,663,819					$ 0			$ 0			0				0		3,661,153		(1,590)			4,256
Beginning Balance (shares) at Mar. 31, 2020						0			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	3,464,082																	3,464,518					(436)
Other comprehensive income (loss)	719																			588			131
Net transfers to Parent	(1,612,629)																	(1,612,629)
Share-based compensation, net	31,253																	31,244					9
Other equity adjustment	0																	156		(156)
Unrealized gain (loss) on investment securities	7,087																			7,087
Non-controlling interest attributed to dissolution	(884)																						(884)
Ending Balance at Jun. 30, 2020	5,553,447					$ 0			$ 0			0				0		5,544,442		5,929			3,076
Ending Balance (shares) at Jun. 30, 2020						0			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,995,383			$ 1,080,106	$ 1,915,278												$ 53,056		$ 1,080,284						$ (178)	$ 1,862,222
Other comprehensive income (loss)	410			377	34																$ 309	$ 2			68	32
Net transfers to Parent	(2,236,995)																	(2,236,995)
Share-based compensation, net				$ 888	$ 32,365										$ 25,619				$ 885						$ 3	$ 6,746
Unrealized gain (loss) on investment securities	(66)																			(3)			(63)
Effect of reorganization transactions	36,732								$ 20			245,920				0		(4,388,616)		(5,923)			4,185,331
Effect of reorganization transactions (shares)						372,565			1,984,079,483
Distributions for state taxes on behalf of unit holders (members), net	(6,005)															(335)							(5,670)
Proceeds received from stock issuance		$ 1,744,075	$ 263,925				$ 1						$ 1,758,719	$ 263,925										$ (14,645)
Proceeds received from stock issuance (shares)							100,000,000	15,000,000		(100,000,000)	(15,000,000)
Repurchase of Class A Common Shares	(2,023,425)								$ (1)			(2,023,424)
Increase in controlling interest resulting from Greenshoe	0											2,047				4,847				(26)			(6,868)
Ending Balance at Sep. 30, 2020	6,360,736					$ 1			$ 19			272,806				57,568		$ 0		288			6,030,054
Ending Balance (shares) at Sep. 30, 2020						115,372,565			1,869,079,483
Beginning Balance at Dec. 31, 2020	7,882,156					$ 1			$ 19			282,743				207,422				317			7,391,654
Beginning Balance (shares) at Dec. 31, 2020						115,372,565			1,869,079,483
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,777,338															123,702							2,653,636
Other comprehensive income (loss)	307																			14			293
Share-based compensation, net	39,149											2,116											37,033
Share-based compensation, net (shares)						2,300
Unrealized gain (loss) on investment securities	(364)																			(21)			(343)
Distributions for state taxes on behalf of unit holders (members), net	(4,840)															(281)							(4,559)
Distributions to unit holders (members) from subsidiary investment	(2,242,999)																						(2,242,999)
Special Dividend to Class A Shareholders	(145,903)															(145,903)
Change in controlling interest of investment, net	985											85,351				(1)				55			(84,420)
Change in controlling interest of investment, net (shares)						20,200,000			(20,200,000)
Ending Balance at Mar. 31, 2021	8,305,829					$ 1			$ 19			370,210				184,939				365			7,750,295
Ending Balance (shares) at Mar. 31, 2021						135,574,865			1,848,879,483
Beginning Balance at Dec. 31, 2020	7,882,156					$ 1			$ 19			282,743				207,422				317			7,391,654
Beginning Balance (shares) at Dec. 31, 2020						115,372,565			1,869,079,483
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,206,847
Other comprehensive income (loss)	(194)
Unrealized gain (loss) on investment securities	(3,475)
Ending Balance at Sep. 30, 2021	9,185,812					$ 1			$ 19			367,860				336,594				124			8,481,214
Ending Balance (shares) at Sep. 30, 2021						137,367,428			1,848,879,483
Beginning Balance at Mar. 31, 2021	8,305,829					$ 1			$ 19			370,210				184,939				365			7,750,295
Beginning Balance (shares) at Mar. 31, 2021						135,574,865			1,848,879,483
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,036,650															61,120							975,530
Other comprehensive income (loss)	494																			29			465
Share-based compensation, net	38,243											2,621											35,622
Share-based compensation, net (shares)						4,177
Unrealized gain (loss) on investment securities	527																			36			491
Distributions for state taxes on behalf of unit holders (members), net	(19,601)															(1,346)							(18,255)
Distributions to unit holders (members) from subsidiary investment	(1,188,294)																						(1,188,294)
Dividend adjustments from forfeited restricted stock units	322															211							111
Pushdown of dividend equivalent	0															16,427							(16,427)
Issuance of Class A Common Shares under stock compensation and benefit plans	19,951											1,369											18,582
Issuance of Class A Common Shares under stock compensation and benefit plans (shares)						896,701
Repurchase of Class A Common Shares	(8,313)											(8,313)
Repurchase of Class A Common Shares (shares)						(496,829)
Change in controlling interest of investment, net	0											(1,971)								1			1,970
Ending Balance at Jun. 30, 2021	8,185,808					$ 1			$ 19			363,916				261,351				431			7,560,090
Ending Balance (shares) at Jun. 30, 2021						135,978,914			1,848,879,483
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,392,859															75,337							1,317,522
Other comprehensive income (loss)	(995)																			(59)			(936)
Share-based compensation, net	38,310											2,654											35,656
Share-based compensation, net (shares)						2,508,497
Unrealized gain (loss) on investment securities	(3,639)																			(253)			(3,386)
Distributions for state taxes on behalf of unit holders (members), net	(1,712)															(118)							(1,594)
Distributions to unit holders (members) from subsidiary investment	(393,463)																						(393,463)
Dividend adjustments from forfeited restricted stock units	336															24							312
Taxes withheld on employees' restricted share award vesting	(12,583)											(877)											(11,706)
Issuance of Class A Common Shares under stock compensation and benefit plans	16,463											1,135											15,328
Issuance of Class A Common Shares under stock compensation and benefit plans (shares)						947,358
Repurchase of Class A Common Shares	(35,572)											(35,572)
Repurchase of Class A Common Shares (shares)						(2,067,341)
Change in controlling interest of investment, net	0											36,604								5			(36,609)
Ending Balance at Sep. 30, 2021	$ 9,185,812					$ 1			$ 19			$ 367,860				$ 336,594				$ 124			$ 8,481,214
Ending Balance (shares) at Sep. 30, 2021						137,367,428			1,848,879,483

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net income	$ 5,206,847	$ 6,558,512
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	55,470	47,633
Provision for deferred income taxes	54,817	32,021
Origination of mortgage servicing rights	(2,937,517)	(2,041,899)
Change in fair value of MSRs, net	513,344	1,929,515
Gain on sale of loans excluding fair value of MSRs, net	(5,610,627)	(8,814,236)
Disbursements of mortgage loans held for sale	(275,516,411)	(209,540,623)
Proceeds from sale of loans held for sale	281,117,441	208,127,818
Share-based compensation expense	123,873	93,565
Change in assets and liabilities
Due from affiliates	12,501	16,350
Other assets	(72,025)	(232,635)
Accounts payable	95,328	95,154
Due to affiliates	(44,541)	20,130
Premium recapture and indemnification losses paid	772	(3,067)
Other liabilities	337,907	50,142
Total adjustments	(1,869,668)	(10,220,132)
Net cash provided by (used in) operating activities	3,337,179	(3,661,620)
Investing activities
Proceeds from sale of MSRs	665,901	320,028
Net purchase of MSRs	(34,817)	0
Net decrease in notes receivable from affiliates	0	60,516
(Increase) decrease in mortgage loans held for investment	(25,380)
(Increase) decrease in mortgage loans held for investment		6,203
Net increase in investment securities	0	(2,500)
Purchase and other additions of property and equipment, net of disposals	(98,549)	(73,195)
Net cash provided by investing activities	507,155	311,052
Financing activities
Net (payments) borrowings on funding facilities	(1,119,542)
Net (payments) borrowings on funding facilities		7,047,521
Net (payments) borrowings on lines of credit	(300,000)
Net (payments) borrowings on lines of credit		209,971
Borrowings on Senior Notes	0	2,000,000
Net borrowings on early buy out facility	1,889,053	17,092
Net borrowings (payments) notes payable from unconsolidated affiliates	537
Net borrowings (payments) notes payable from unconsolidated affiliates		(9,459)
Proceeds from MSRs financing liability	21,635	14,121
Issuance of Class D Shares to RHI	0	20
Proceeds from Class A Shares Issued prior to Offering	0	6,706
Proceeds received from IPO, net of cost	0	1,744,075
Proceeds received from Greenshoe option	0	263,925
Use of Proceeds to Purchase Class D Shares and Holding Units from RHI	0	(2,023,424)
Stock issuance	28,778	0
Share repurchase	(43,885)	0
Taxes withheld on employees' restricted share award vesting	(12,583)	0
Distributions to other unit holders (members) of Holdings	(3,982,591)	(6,005)
Net transfer to parent	0	(3,798,582)
Net cash (used in) provided by financing activities	(3,518,598)	5,465,961
Effects of exchange rate changes on cash and cash equivalents	(194)	(630)
Net increase in cash and cash equivalents and restricted cash	325,542	2,114,763
Cash and cash equivalents and restricted cash, beginning of period	2,054,103	1,455,725
Cash and cash equivalents and restricted cash, end of period	2,379,645	3,570,488
Non-cash activities
Loans transferred to other real estate owned	1,023	960
Supplemental disclosures
Cash paid for interest on related party borrowings	$ 3,330	$ 2,126

Business, Basis of Presentation

Business, Basis of Presentation and Accounting Policies	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business, Basis of Presentation and Accounting Policies	Business, Basis of Presentation and Accounting Policies Rocket Companies, Inc. (the "Company", and together with its consolidated subsidiaries, "Rocket Companies", "we", "us", "our") was incorporated in Delaware on February 26, 2020 as a wholly owned subsidiary of Rock Holdings Inc. ("RHI") for the purpose of facilitating an initial public offering ("IPO") of its Class A common stock, $0.00001 par value (the “Class A common stock”) and other related transactions in order to carry on the business of RKT Holdings, LLC ("Holdings") and its wholly owned subsidiaries. We are a Detroit-based holding company consisting of tech-driven real estate, mortgage and eCommerce businesses. We are committed to providing an industry-leading client experience powered by our platform. In addition to Rocket Mortgage, the nation’s largest mortgage lender, we have expanded into complementary industries, such as real estate services, personal lending, and auto sales where we seek to deliver innovative client solutions leveraging our Rocket platform. Our business operations are organized into the following two segments: (1) Direct to Consumer and (2) Partner Network, refer to Note 12, Segments. Rocket Companies, Inc. is a holding company. Its primary material asset is the equity interest in Holdings which, through its direct and indirect subsidiaries, conducts all of the Company's operations. Holdings is a Michigan limited liability company and wholly owns the following entities, with each entity's subsidiaries identified in parentheses: Rocket Mortgage, LLC (formerly known as Quicken Loans, LLC), Amrock Holdings, LLC (“Amrock”, "Amrock Title Insurance Company" and "Nexsys Technologies LLC"), LMB HoldCo LLC (“Core Digital Media”), RCRA Holdings LLC (“Rock Connections” and “Rocket Auto”), Rocket Homes Real Estate LLC (“Rocket Homes”), RockLoans Holdings LLC (“Rocket Loans”), Rock Central LLC, EFB Holdings Inc. (“Edison Financial”), Lendesk Canada Holdings Inc., RockTech Canada Inc., and Woodward Capital Management LLC. As used herein, “Rocket Mortgage” refers to either the Rocket Mortgage brand or platform, or the Rocket Mortgage business, as the context allows. Quicken Loans, LLC, changed its name to “Rocket Mortgage, LLC”, effective as of July 31, 2021, pursuant to the filing of a Certificate of Amendment to the Articles of Organization with the Michigan Department of Licensing and Regulatory Affairs, Corporations, Securities & Commercial Licen sing Bureau. Initial Public Offering On August 10, 2020 we completed the IPO of our common stock pursuant to a Registration Statement on Form S-1 (File No. 333-239726), which closed on August 10, 2020. In the IPO, we sold an aggregate of 115,000,000 shares of Class A common stock, including 15,000,000 shares purchased by the underwriters on September 9, 2020. Rocket Companies, Inc. received net proceeds from the IPO of approximately $2,023,000 after deducting underwriting discounts and commissions, all of which was used to purchase 115,000,000 non-voting membership units of Holdings (the “Holdings Units”) and shares of Class D common stock from RHI. Holdings is treated as a partnership for U.S. federal income tax purposes and, as such, is itself generally not subject to U.S. federal income tax under current U.S. tax laws. Each member of Holdings will be required to take into account for U.S. federal income tax purposes its distributive share of the items of income, gain, loss and deduction of Holdings. As indicated in Note 8, Income Taxes, the Company is party to a Tax Receivable Agreement. Basis of Presentation and Consolidation Prior to the completion of the initial public offering, RHI, Holdings and its subsidiaries consummated an internal reorganization in which Rocket Companies, Inc. became the sole managing member of Holdings. Prior to the reorganization, Rocket Companies, Inc. had no operations. As the sole managing member of Holdings, the Company operates and controls all of the business affairs of Holdings, and through Holdings and its subsidiaries, conducts its business. Holdings is considered a variable interest entity (“VIE”) and we consolidate the financial results of Holdings under the guidance of ASC 810, Consolidation. A portion of our Net income is allocated to Net income attributable to non-controlling interest. For further details, refer to Note 13 , Variable Interest Entities and Note 14 , Non-controlling Interests. Income from Holdings and its subsidiaries prior to the reorganization and IPO has been accounted for as a non-controlling interest in our Condensed Consolidated Statements of Income and Comprehensive Income. Accumulated net income prior to the reorganization and IPO is presented in Net Parent Investment in our Condensed Consolidated Statements of Changes in Equity as the financial statements prior to the reorganization and IPO reflect combined subsidiaries operating as part of RHI. We have accounted for the reorganization as one of entities under common control and the Net Parent Investment was allocated between Total Non-controlling Interest and Additional Paid-in Capital based on the ownership of Holdings. Our condensed consolidated financial statements for periods prior to the reorganization and IPO reflect the combined subsidiaries that historically operated as part of RHI. We have further adjusted the prior period results for the three and nine months ended September 30, 2020, to retrospectively reflect the acquisition of Amrock Title Insurance Company (“ATI”) which qualified as a common control transaction as discussed further below in t he Acquisition Agreement secti on. All significant intercompany transactions and accounts between the businesses comprising the Company have been eliminated in the accompanying condensed consolidated financial statements. All transactions and accounts between RHI and other related parties with the Company have a history of settlement or will be settled for cash and are reflected as related party transactions. For further details of the Company’s related party transactions refer to Note 6, Transactions with Related Parties . Our condensed consolidated financial statements are unaudited and presented in U.S. dollars. They have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC. In our opinion, these condensed consolidated financial statements include all normal and recurring adjustments considered necessary for a fair statement of our results of operations, financial position and cash flows for the periods presented. Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. However, our results of operations for any interim period are not necessarily indicative of the results that may be expected for a full fiscal year or for any other future period. Acquisition Agreement On August 5, 2020, Rocket Companies, Inc. entered into an acquisition agreement with RHI and its direct subsidiary Amrock Holdings Inc. pursuant to which we acquired ATI, a title insurance underwriting business, for total aggregate consideration of $14,400 that consisted of 800,000 Holdings Units and shares of Rocket Companies, Inc. Class D common stock valued at the initial public offering price of $18.00 per share (the number of shares issued equals the purchase price divided by the price to the public in our initial public offering), the acquisition closed on August 14, 2020 subsequent to the IPO date on August 10, 2020. ATI's net income for the year ended December 31, 2019 was $4,700. Because the Acquisition was a transaction between commonly controlled entities, U.S. GAAP requires the retrospective combination of the entities for all periods presented as if the combination had been in effect since the inception of common control. Accordingly, the Company’s condensed consolidated financial statements included in this Form 10-Q, including for the three and nine months ended September 30, 2020, reflect the retrospective combination of the entities as if the combination had been in effect since inception of common control. Management Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Although management is not currently aware of any factors that would significantly change its estimates and assumptions, actual results may differ from these estimates. Subsequent Events In preparing these condensed consolidated financial statements, the Company evaluated events and transactions for potential recognition or disclosure through the date these condensed consolidated financial statements were issued. Refer to Note 5, Borrowings for disclosures on changes to the Company’s debt agreements that occurred subsequent to September 30, 2021, which includes additional details on the October 2021, issuance of $1,150,000 of 2.875% Senior Notes and $850,000 of 4.000% Senior Notes, along with details on how a portion of these proceeds were used to repurchase $948,015 of the 5.250% Senior Notes with an outstanding principal amount of $1,010,000 as of September 30, 2021. In November 2021, the Company purchased MSRs relating to certain single-family mortgage loans with an aggregate unpaid principal balance of approximately $9.0 billion and a fair market value of approximately $82.1 million. Special Dividend On February 25, 2021, our board of directors authorized and declared a cash dividend (the "Special Dividend") of $1.11 per share to the holders of our Class A common stock. The Special Dividend was paid on March 23, 2021 to holders of the Class A common stock of record as of the close of business on March 9, 2021. The Company funded the Special Dividend from cash distributions of approximately $2.2 billion by RKT Holdings, LLC to all of its members, including the Company. Revenue Recognition Gain on sale of loans, net —includes all components related to the origination and sale of mortgage loans, including (1) net gain on sale of loans, which represents the premium we receive in excess of the loan principal amount and certain fees charged by investors upon sale of loans into the secondary market, (2) loan origination fees (credits), points and certain costs, (3) provision for or benefit from investor reserves, (4) the change in fair value of interest rate locks and loans held for sale, (5) the gain or loss on forward commitments hedging loans held for sale and interest rate lock commitments (IRLCs), and (6) the fair value of originated MSRs. An estimate of the Gain on sale of loans, net is recognized at the time an IRLC is issued, net of a pull-through factor. Subsequent changes in the fair value of IRLCs and mortgage loans held for sale are recognized in current period earnings. When the mortgage loan is sold into the secondary market, any difference between the proceeds received and the current fair value of the loan is recognized in current period earnings in Gain on sale of loans, net. Included in Gain on sale of loans, net is the Fair value of originated MSRs, which represents the estimated fair value of MSRs related to loans which we have sold and retained the right to service. Refer to Note 3, Mortgage Servicing Rights for information related to the Total changes in fair value of MSRs. Loan servicing (loss) income, net —includes income from servicing, sub-servicing and ancillary fees, and is recorded to income as earned, which is upon collection of payments from borrowers. This amount also includes the Change in fair value of MSRs, which is the adjustment for the fair value measurement of the MSRs asset as of the respective balance sheet date. Interest income, net —includes interest earned on mortgage loans held for sale and mortgage loans held for investment net of the interest expense paid on our loan funding facilities. Interest income is recorded as earned and interest expense is recorded as incurred. Other income —is derived primarily from lead generation revenue, professional service fees, real estate network referral fees, contact center revenue, personal loans business, closing fees, net appraisal revenue, and net title insurance fees. The following revenue streams fall within the scope of ASC Topic 606—Revenue from Contracts with Customers and are disaggregated hereunder: Core Digital Media lead generation revenue —The Company recognizes online consumer acquisition revenue based on successful delivery of marketing leads to a client at a fixed fee per lead. This service is satisfied at the time the lead is delivered, at which time revenue for the service is recognized. Online consumer acquisition revenue, net of intercompany eliminations, were $7,784 and $5,755 for the three months ended September 30, 2021 and 2020, respectively and $22,549 and $18,819 for the nine months ended September 30, 2021 and 2020, respectively. Professional service fees —The Company recognizes professional service fee revenue based on the delivery of services (e.g., human resources, technology, training) over the term of a contract. Consideration for the promised services is received through a combination of a fixed fee for the period and incremental fees paid for optional services that are available at an incremental rate determined at the time such services are requested. The Company recognizes the annual fee ratably over the life of the contract, as the performance obligation is satisfied equally over the term of the contract. For the optional services, revenue is only recognized at the time the services are requested and delivered and pricing is agreed upon. Professional service fee revenues were $3,434 and $3,528 for the three months ended September 30, 2021 and 2020, respectively and $10,181 and $7,155 for the nine months ended September 30, 2021 and 2020, respectively, and were rendered entirely to related parties. Rocket Homes real estate network referral fees —The Company recognizes real estate network referral fee revenue based on arrangements with partner agencies contingent on the closing of a transaction. As this revenue stream is variable, and is contingent on the successful transaction close, the revenue is constrained until the occurrence of the transaction. At this point, the constraint on recognizing revenue is deemed to have been lifted and revenue is recognized for the consideration expected to be received. Real estate network referral fees, net of intercompany eliminations, were $16,068 and $13,633 for the three months ended September 30, 2021 and 2020, respectively and $39,778 and $33,459 for the nine months ended September 30, 2021 and 2020, respectively. Rock Connections and Rocket Auto contact center revenue —The Company recognizes contact center revenue for communication services including client support and sales. Consideration received mainly includes a fixed base fee and/or a variable contingent fee. The fixed base fee is recognized ratably over the period of performance, as the performance obligation is considered to be satisfied equally throughout the service period. The variable contingent fee related to car sales is constrained until the sale of the car is completed. Contact center revenues, net of intercompany eliminations, were $10,847 and $6,246 for the three months ended September 30, 2021 and 2020, respectively and $34,769 and $19,403 for the nine months ended September 30, 2021 and 2020, respectively. Amrock closing fees —The Company recognizes closing fees for non-recurring services provided in connection with the origination of the loan. These fees are recognized at the time of loan closing for purchase transactions or at the end of a client's three-day rescission period for refinance transactions, which represents the point in time the loan closing services performance obligation is satisfied. The consideration received for closing services is a fixed fee per loan that varies by state and loan type. Closing fees were $120,381 and $122,735 for the three months ended September 30, 2021 and 2020, respectively and $395,509 and $302,260 for the nine months ended September 30, 2021 and 2020, respectively. Amrock appraisal revenue, net —The Company recognizes appraisal revenue when the appraisal service is completed. The Company may choose to deliver appraisal services directly to its client or subcontract such services to a third-party licensed and/or certified appraiser. In instances where the Company performs the appraisal, revenue is recognized as the gross amount of consideration received at a fixed price per appraisal. The Company is an agent in instances where a third-party appraiser is involved in the delivery of appraisal services and revenue is recognized net of third-party appraisal expenses. Appraisal revenue, net was $23,222 and $20,655 for the three months ended September 30, 2021 and 2020, respectively and $68,792 and $59,054 for the nine months ended September 30, 2021 and 2020, respectively. Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. We maintain our bank accounts with a relatively small number of high-quality financial institutions. Restricted cash as of September 30, 2021 and 2020 consisted of cash on deposit for a repurchase facility, client application deposits, title premiums collected from the insured that are due to the underwriters, principal and interest received in collection accounts for purchased assets, and a $25,000 bond. September 30, 2021 2020 Cash and cash equivalents $ 2,233,667 $ 3,485,137 Restricted cash 145,978 85,351 Total cash, cash equivalents, and restricted cash in the statement of cash flows $ 2,379,645 $ 3,570,488 Loans subject to repurchase right from Ginnie Mae For certain loans sold to Ginnie Mae, the Company as the servicer has the unilateral right to repurchase any individual loan in a Ginnie Mae securitization pool if that loan meets defined criteria, including being delinquent more than 90 days. Once the Company has the unilateral right to repurchase the delinquent loan, the Company has effectively regained control over the loan and must re-recognize the loan on the Condensed Consolidated Balance Sheets and establish a corresponding finance liability regardless of the Company's intention to repurchase the loan. The asset and corresponding liability are recorded at the unpaid principal balance of the loan, which approximates its fair value. Recently Adopted Accounting Standards In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope to clarify that Topic 848 is applicable to many derivative instruments and hedging relationships.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received if an asset were sold or the price that would be paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. Required disclosures include classification of fair value measurements within a three-level hierarchy (Level 1, Level 2, and Level 3). Classification of a fair value measurement within the hierarchy is dependent on the classification and significance of the inputs used to determine the fair value measurement. Observable inputs are those that are observed, implied from, or corroborated with externally available market information. Unobservable inputs represent the Company’s estimates of market participants’ assumptions. Fair value measurements are classified in the following manner: Level 1 —Valuation is based on quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 —Valuation is based on either observable prices for identical assets or liabilities in inactive markets, observable prices for similar assets or liabilities, or other inputs that are derived directly from, or through correlation to, observable market data at the measurement date. Level 3 —Valuation is based on the Company’s internal models using assumptions at the measurement date that a market participant would use. In determining fair value measurement, the Company uses observable inputs whenever possible. The level of a fair value measurement within the hierarchy is dependent on the lowest level of input that has a significant impact on the measurement as a whole. If quoted market prices are available at the measurement date or are available for similar instruments, such prices are used in the measurements. If observable market data is not available at the measurement date, judgment is required to measure fair value. The following is a description of measurement techniques for items recorded at fair value on a recurring basis. There were no material items recorded at fair value on a nonrecurring basis as of September 30, 2021 or December 31, 2020. Mortgage loans held for sale: Loans held for sale that trade in active secondary markets are valued using Level 2 measurements derived from observable market data, including market prices of securities backed by similar mortgage loans adjusted for certain factors to approximate the fair value of a whole mortgage loan, including the value attributable to mortgage servicing and credit risk. Loans held for sale for which there is little to no observable trading activity of similar instruments are valued using Level 3 measurements based upon dealer price quotes. IRLCs: The fair value of IRLCs is based on current market prices of securities backed by similar mortgage loans (as determined above under mortgage loans held for sale), net of costs to close the loans, subject to the estimated loan funding probability, or “pull-through factor”. Given the significant and unobservable nature of the pull-through factor, IRLCs are classified as Level 3. MSRs: The fair value of MSRs (including MSRs collateral for financing liability and MSRs financing liability) is determined using a valuation model that calculates the present value of estimated net future cash flows. The model includes estimates of prepayment speeds, discount rate, cost to service, float earnings, contractual servicing fee income, and ancillary income among others. These fair value measurements are classified as Level 3. Forward commitments: The Company’s forward commitments are valued based on quoted prices for similar assets in an active market with inputs that are observable and are classified within Level 2 of the valuation hierarchy. Assets and Liabilities Measured at Fair Value on a Recurring Basis The table below shows a summary of financial statement items that are measured at estimated fair value on a recurring basis, including assets measured under the fair value option. There were no material transfers of assets or liabilities recorded at fair value on a recurring basis between Levels 1, 2 or 3 during the nine months ended September 30, 2021 or the year ended December 31, 2020. Level 1 Level 2 Level 3 Total Balance at September 30, 2021 Assets: Mortgage loans held for sale $ — $ 20,587,535 $ 2,664,401 $ 23,251,936 IRLCs — — 794,258 794,258 MSRs — — 4,701,045 4,701,045 Forward commitments — 253,200 — 253,200 Total assets $ — $ 20,840,735 $ 8,159,704 $ 29,000,439 Liabilities: Forward commitments $ — $ 35,795 $ — $ 35,795 Total liabilities $ — $ 35,795 $ — $ 35,795 Balance at December 31, 2020 Assets: Mortgage loans held for sale $ — $ 22,285,440 $ 579,666 $ 22,865,106 IRLCs — — 1,897,194 1,897,194 MSRs — — 2,862,685 2,862,685 MSRs collateral for financing liability (1) — — 205,033 205,033 Forward commitments — 20,584 — 20,584 Total assets $ — $ 22,306,024 $ 5,544,578 $ 27,850,602 Liabilities: Forward commitments $ — $ 506,071 $ — $ 506,071 MSRs financing liability (1) — — 187,794 187,794 Total liabilities $ — $ 506,071 $ 187,794 $ 693,865 (1) Refer to Note 3, Mortgage Servicing Rights for further information regarding both the MSRs collateral for financing liability and MSRs financing liability. The following tables present the quantitative information about recurring Level 3 fair value financial instruments and the fair value measurements as of: September 30, 2021 December 31, 2020 Unobservable Input Range Weighted Average Range Weighted Average Mortgage loans held for sale Dealer pricing 92% - 107% 100 % 89% - 105% 99 % IRLCs Loan funding probability 0% - 100% 78 % 0% - 100% 74 % MSRs, MSRs collateral for financing liability, and MSRs financing liability Discount rate 9.0% - 12.0% 9.5 % 9.5% - 12.0% 9.9 % Conditional prepayment rate 6.9% - 42.0% 9.8 % 6.6% - 52.1% 15.8 % The table below presents a reconciliation of Level 3 assets measured at fair value on a recurring basis for the three and nine months ended September 30, 2021 and 2020. Mortgage servicing rights (including MSRs collateral for financing liability and MSRs financing liability) are also classified as a Level 3 asset measured at fair value on a recurring basis and its reconciliation is found in Note 3, Mortgage Servicing Rights. Loans Held for Sale IRLCs Balance at June 30, 2021 $ 2,579,313 $ 907,978 Transfers in (1) 461,014 — Transfers out/principal reductions (1) (378,302) — Net transfers and revaluation losses — (113,720) Total gains included in net income 2,376 — Balance at September 30, 2021 $ 2,664,401 $ 794,258 Balance at June 30, 2020 $ 416,100 $ 2,393,764 Transfers in (1) 122,763 — Transfers out/principal reductions (1) (164,211) — Net transfers and revaluation gains — 196,555 Total gains included in net income 1,380 — Balance at September 30, 2020 $ 376,032 $ 2,590,319 Balance at December 31, 2020 $ 579,666 $ 1,897,194 Transfers in (1) 3,244,577 — Transfers out/principal reductions (1) (1,159,712) — Net transfers and revaluation losses — (1,102,936) Total losses included in net income (130) — Balance at September 30, 2021 $ 2,664,401 $ 794,258 Balance at December 31, 2019 $ 308,793 $ 508,135 Transfers in (1) 906,527 — Transfers out/principal reductions (1) (825,197) — Net transfers and revaluation gains — 2,082,184 Total losses included in net income (14,091) — Balance at September 30, 2020 $ 376,032 $ 2,590,319 (1) Transfers in represent loans repurchased from investors or loans originated for which an active market currently does not exist. Transfers out primarily represent loans sold to third parties and loans paid in full. Fair Value Option The following is the estimated fair value and unpaid principal balance (“UPB”) of mortgage loans held for sale that have contractual principal amounts and for which the Company has elected the fair value option. The fair value option was elected for mortgage loans held for sale as the Company believes fair value best reflects their expected future economic performance: Fair Value Unpaid Principal Balance Difference (1) Balance at September 30, 2021 $ 23,251,936 $ 22,825,105 $ 426,831 Balance at December 31, 2020 $ 22,865,106 $ 21,834,817 $ 1,030,289 (1) Represents the amount of gains included in Gain on sale of loans, net due to changes in fair value of items accounted for using the fair value option. Disclosures of the fair value of certain financial instruments are required when it is practical to estimate the value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. The following table presents the carrying amounts and estimated fair value of financial liabilities that are not recorded at fair value on a recurring or nonrecurring basis. This table excludes cash and cash equivalents, restricted cash, warehouse borrowings, and line of credit borrowing facilities as these financial instruments are highly liquid or short-term in nature and as a result, their carrying amounts approximate fair value: September 30, 2021 December 31, 2020 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Senior Notes, due 1/15/2028 $ 996,612 $ 1,089,527 $ 994,986 $ 1,079,629 Senior Notes, due 3/1/2029 $ 742,699 $ 761,370 $ 741,946 $ 766,365 Senior Notes, due 3/1/2031 $ 1,237,128 $ 1,264,263 $ 1,236,114 $ 1,298,175 The fair value of Senior Notes was calculated using the observable bond price at September 30, 2021 and December 31, 2020, respectively. The Senior Notes are classified as Level 2 in the fair value hierarchy.

Mortgage Servicing Rights

Mortgage Servicing Rights	9 Months Ended
	Sep. 30, 2021
Transfers and Servicing [Abstract]
Mortgage Servicing Rights	Mortgage Servicing Rights Mortgage servicing rights are recognized as assets on the Condensed Consolidated Balance Sheets when loans are sold, and the associated servicing rights are retained. The Company maintains one class of MSRs asset and has elected the fair value option. These MSRs are recorded at fair value, which is determined using a valuation model that calculates the present value of estimated future net servicing fee income. The model includes estimates of prepayment speeds, discount rate, cost to service, float earnings, contractual servicing fee income, and ancillary income and late fees, among others. The following table summarizes changes to the MSRs assets for the three and nine months ended: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Fair value, beginning of period $ 4,644,172 $ 2,289,209 $ 2,862,685 $ 2,874,972 MSRs originated 907,242 836,557 2,937,517 2,041,899 MSRs sales (572,218) (140,359) (671,278) (326,652) MSRs purchases 38,281 — 38,281 — Changes in fair value: Due to changes in valuation model inputs or assumptions (1) (16,123) (113,547) 426,111 (1,191,967) Due to collection/realization of cash flows (300,309) (265,711) (892,271) (792,103) Total changes in fair value (316,432) (379,258) (466,160) (1,984,070) Fair value, end of period $ 4,701,045 $ 2,606,149 $ 4,701,045 $ 2,606,149 (1) Reflects changes in assumptions including discount rates and prepayment speed assumptions, mostly due to changes in market interest rates. Does not include the change in fair value of derivatives that economically hedge MSRs identified for sale or the effects of contractual prepayment protection resulting from sales of MSRs. The total UPB of mortgage loans serviced, excluding subserviced loans, at September 30, 2021 and December 31, 2020 was $454,666,840 and $371,494,905, respectively. The portfolio primarily consists of high-quality performing agency and government (FHA and VA) loans. As of September 30, 2021, delinquent loans (defined as 60-plus days past-due) were 2.15% of our total portfolio. Excluding clients in COVID-19 related forbearance plans, our delinquent loans (defined as 60-plus days past-due) were 0.83% as of September 30, 2021. During the first quarter of 2021 and fourth quarter of 2020, the Company sold MSRs with a fair value of $4,885 and $193,739, respectively, relating to certain single-family mortgage loans. Based on the contract terms, the sale of those MSRs did not immediately qualify for sale accounting treatment under U.S. GAAP. The Company reported an MSRs asset (i.e., MSRs collateral for financing liability, at fair value) and MSRs liability (i.e., MSRs financing liability, at fair value) on the Condensed Consolidated Balance Sheets using a methodology consistent with the Company's method for valuing MSRs until certain contractual provisions lapsed, which occurred during the second quarter of 2021. In the nine months ended September 30, 2021 and 2020, the Company also sold MSRs relating to certain mortgage loans, with a fair value of $666,374 and $326,653, respectively, which qualified for sale accounting treatment under U.S. GAAP. The following is a summary of the weighted average discount rate and prepayment speed assumptions used to determine the fair value of MSRs as well as the expected life of the loans in the servicing portfolio: September 30, 2021 December 31, 2020 Discount rate 9.5 % 9.9 % Prepayment speeds 9.8 % 15.8 % Life (in years) 6.80 5.05 The key assumptions used to estimate the fair value of MSRs are prepayment speeds and the discount rate. Increases in prepayment speeds generally have an adverse effect on the value of MSRs as the underlying loans prepay faster. In a declining interest rate environment, the fair value of MSRs generally decreases as prepayments increase and therefore, the estimated life of the MSRs and related cash flows decrease. Decreases in prepayment speeds generally have a positive effect on the value of MSRs as the underlying loans prepay less frequently. In a rising interest rate environment, the fair value of MSRs generally increases as prepayments decrease and therefore, the estimated life of the MSRs and related cash flows increase. Increases in the discount rate result in a lower MSRs value and decreases in the discount rate result in a higher MSRs value. MSRs uncertainties are hypothetical and do not always have a direct correlation with each assumption. Changes in one assumption may result in changes to another assumption, which might magnify or counteract the uncertainties. The following table stresses the discount rate and prepayment speeds at two different data points: Discount Rate Prepayment Speeds 100 BPS Adverse Change 200 BPS Adverse Change 10% Adverse Change 20% Adverse Change September 30, 2021 Mortgage servicing rights $ (201,591) $ (375,589) $ (187,901) $ (358,121) December 31, 2020 Mortgage servicing rights $ (115,130) $ (212,119) $ (147,420) $ (279,691)

Mortgage Loans Held for Sale

Mortgage Loans Held for Sale	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Mortgage Loans Held for Sale	Mortgage Loans Held for Sale The Company sells substantially all of its originated mortgage loans into the secondary market. The Company may retain the right to service some of these loans upon sale through ownership of servicing rights. A reconciliation of the changes in mortgage loans held for sale to the amounts presented on the Condensed Consolidated Statements of Cash Flows is below: Nine Months Ended September 30, 2021 2020 Balance at the beginning of period $ 22,865,106 $ 13,275,735 Disbursements of mortgage loans held for sale 275,516,411 209,540,623 Proceeds from sales of mortgage loans held for sale (1) (281,117,441) (208,122,820) Gain on sale of mortgage loans excluding fair value of other financial instruments, net (2) 5,987,860 6,983,862 Balance at the end of period $ 23,251,936 $ 21,677,400 (1) The proceeds from sales of loans held for sale on the Condensed Consolidated Statements of Cash Flows includes amounts related to the sale of consumer loans. (2) The Gain on sale of loans excluding fair value of MSRs, net on the Condensed Consolidated Statements of Cash Flows includes amounts related to the sale of consumer loans, interest rate lock commitments, forward commitments, and provisions for investor reserves. Credit Risk The Company is subject to credit risk associated with mortgage loans that it purchases and originates during the period of time prior to the sale of these loans. The Company considers credit risk and losses associated with these loans to be insignificant as it holds the loans for a short period of time, which for the nine months ended September 30, 2021 is, on average, approximately 18 days from the date of borrowing, and the market for these loans continues to be highly liquid. The Company is also subject to credit risk associated with mortgage loans it has repurchased as a result of breaches of representations and warranties during the period of time between repurchase and resale.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Borrowings	Borrowings The Company maintains various funding facilities and other non-funding debt as shown in the tables below. Interest rates typically have two main components – a base rate most commonly LIBOR or SOFR, which is sometimes subject to a minimum floor plus a spread. Some facilities have a commitment fee, which can range from 0.0% to 0.5% per year. The commitment fee charged by lenders is calculated based on the committed line amount multiplied by a negotiated rate. The Company is required to maintain certain covenants, including minimum tangible net worth, minimum liquidity, maximum total debt or liabilities to net worth ratio, pretax net income requirements, and other customary debt covenants, as defined in the agreements. The Company was in compliance with all covenants as of September 30, 2021. The amount owed and outstanding on the Company’s loan funding facilities fluctuates greatly based on its origination volume, the amount of time it takes the Company to sell the loans it originates, and the Company’s ability to use its cash to self-fund loans. In addition to self-funding, the Company may from time to time use surplus cash to “buy-down” the effective interest rate of certain loan funding facilities or to self-fund a portion of our loan originations. As of September 30, 2021, $3,399,503 of the Company’s cash was used to buy-down our funding facilities and self-fund, $500,732 of which are buy-down funds that are included in Cash and cash equivalents on the Condensed Consolidated Balance Sheets and an estimated $2,898,771 of which is discretionary self-funding that reduces Cash and cash equivalents on the Condensed Consolidated Balance Sheets. The Company has the right to withdraw the $500,732 at any time, unless a margin call has been made or a default has occurred under the relevant facilities. The Company has an estimated $2,898,771 of discretionary self-funded loans, of which a portion can be transferred to a warehouse line or the early buy out line, provided that such loans meet the eligibility criteria to be placed on such lines. The remaining portion will be funded in normal course over a short period of time, generally less than one month. A large unanticipated margin call could also have a material adverse effect on the Company’s liquidity. The terms of the Senior Notes restrict our ability and the ability of our subsidiary guarantors among other things to: (1) incur additional debt or issue preferred stock; (2) pay dividends or make distributions in respect of capital stock; (3) purchase or redeem capital stock; (4) make investments or other restricted payments; (5) sell assets; (6) enter into transactions with affiliates; (7) effect a consolidation or merger, taken as a whole; (8) designate our subsidiaries as unrestricted subsidiaries, unless certain conditions are met, as defined in the agreements; (9) merge, consolidate or sell, transfer or lease assets, and; (10) create liens on assets. Items (1) through (9) apply to the 2028 Senior Notes. Items (9) and (10) apply to the 2029 and 2031 Senior Notes, which have investment grade covenants. Subsequent to September 30, 2021, the Company amended certain provisions of the 2028 Senior Notes Indenture with the consent of the holders of the 2028 Senior Notes following a previously announced Tender Offer and Consent Solicitation. The Company eliminated substantially all of the restrictive covenants related to the 2028 Senior Notes Indenture. Funding Facilities Facility Type Collateral Maturity Line Amount Committed Line Amount Outstanding Balance September 30, 2021 Outstanding Balance December 31, 2020 MRA funding: 1) Master Repurchase Agreement (1)(7) Mortgage loans held for sale (6) 10/22/2021 $ 2,000,000 $ 100,000 $ 1,499,791 $ 999,752 2) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 12/2/2021 1,500,000 500,000 1,456,449 1,320,484 3) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 4/21/2023 2,750,000 1,000,000 1,331,022 2,407,156 4) Master Repurchase Agreement (2)(7) Mortgage loans held for sale (6) 7/26/2022 1,700,000 1,400,000 1,647,400 1,953,949 5) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 4/20/2023 3,000,000 500,000 2,413,175 2,004,707 6) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 9/22/2023 2,000,000 500,000 496,864 1,780,902 7) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 9/15/2023 1,200,000 500,000 477,108 1,343,130 8) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 6/10/2022 500,000 — 348,655 219,786 9) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 9/22/2023 1,500,000 500,000 506,022 983,126 10) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 8/16/2023 750,000 100,000 690,565 480,544 11) Master Repurchase Agreement (3)(7) Mortgage loans held for sale (6) 12/17/2021 1,000,000 500,000 501,660 765,432 $ 17,900,000 $ 5,600,000 $ 11,368,711 $ 14,258,968 Early Funding: 12) Early Funding Facility (4)(7) Mortgage loans held for sale (6) (4) $ 4,000,000 $ — $ 3,891,608 $ 2,514,193 13) Early Funding Facility (5)(7) Mortgage loans held for sale (6) (5) 3,000,000 — 1,362,712 969,412 7,000,000 — 5,254,320 3,483,605 Total $ 24,900,000 $ 5,600,000 $ 16,623,031 $ 17,742,573 (1) Subsequent to September 30, 2021, this facility was renewed and the maturity date was extended to October 20, 2023. (2) This facility has a 12-month initial term, which can be extended for 3-months at each subsequent 3-month anniversary from the initial start date. (3) Subsequent to September 30, 2021, this facility was amended to decrease the committed amount to $250,000. (4) This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party upon written notice. (5) This facility has an overall line size of $3,000,000, which is reviewed every 90 days. This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party upon written notice. (6) The Company has multiple borrowing facilities in the form of asset sales under agreements to repurchase. These borrowing facilities are secured by mortgage loans held for sale at fair value as the first priority security interest. (7) The interest rates charged by lenders on the funding facilities included the applicable base rate plus a spread ranging from 1.00% to 2.25% for the nine months ended September 30, 2021, and the applicable base rate plus a spread ranging from 0.40% to 2.30% for the year ended December 31, 2020. Other Financing Facilities Facility Type Collateral Maturity Line Amount Committed Line Amount Outstanding Balance September 30, 2021 Outstanding Balance December 31, 2020 Line of Credit Financing Facilities 1) Unsecured line of credit (1) — 7/27/2025 $ 2,000,000 $ — $ — $ — 2) Unsecured line of credit (1) — 7/31/2025 100,000 — — — 3) Revolving credit facility (4) — 8/10/2024 1,000,000 1,000,000 — 300,000 4) MSRs line of credit (2)(4) MSRs 10/22/2021 200,000 — — — 5) MSRs line of credit (3)(4) MSRs (3) 200,000 200,000 75,000 75,000 $ 3,500,000 $ 1,200,000 $ 75,000 $ 375,000 Early Buy out Financing Facility 6) Early buy out facility (4) Loans/ Advances 3/13/2023 $ 2,600,000 $ — $ 2,219,319 $ 330,266 (1) Refer to Note 6, Transactions with Related Parties for additional details regarding this unsecured line of credit. (2) Subsequent to September 30, 2021 this facility was renewed and the maturity date was extended to October 20, 2023. (3) This MSRs facility can be drawn upon for corporate purposes and is collateralized by GSE MSRs within our servicing portfolio. This facility has a 5-year total commitment comprised of a 3-year revolving period that expires on April 30, 2022 followed by a 2-year amortization period that expires on April 30, 2024. (4) The interest rates charged by lenders on the other funding facilities included the applicable base rate, plus a spread ranging from 1.45% to 4.00% for the nine months ended September 30, 2021, and the applicable base rate plus a spread ranging from 1.75% to 4.00% for the year ended December 31, 2020. Unsecured Senior Notes Facility Type Maturity Interest Rate Outstanding Balance September 30, 2021 Outstanding Balance December 31, 2020 Unsecured Senior Notes (1) 1/15/2028 5.250 % $ 1,010,000 $ 1,010,000 Unsecured Senior Notes (2) 3/1/2029 3.625 % 750,000 750,000 Unsecured Senior Notes (3) 3/1/2031 3.875 % 1,250,000 1,250,000 Total Senior Notes $ 3,010,000 $ 3,010,000 Weighted Average Interest Rate 4.27 % 4.27 % (1) The 2028 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs and discounts are presented net against the Senior Notes reducing the $1,010,000 carrying amount on the Condensed Consolidated Balance Sheets by $7,308 and $6,080 as of September 30, 2021, respectively, and $8,197 and $6,817, as of December 31, 2020, respectively. Subsequent to September 30, 2021, $948,015 of the outstanding principal of the 2028 Senior Notes was redeemed at a price above par plus accrued and unpaid interest for a total cash payment of $1,032,364. (2) The 2029 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs and discounts are presented net against the Senior Notes reducing the $750,000 carrying amount on the Condensed Consolidated Balance Sheets by $7,301 and $8,053 as of September 30, 2021 and December 31, 2020, respectively. (3) The 2031 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs and discounts are presented net against the Senior Notes reducing the $1,250,000 carrying amount on the Condensed Consolidated Balance Sheets by $12,872 and $13,887 as of September 30, 2021 and December 31, 2020, respectively. Subsequent to September 30, 2021, Rocket Mortgage closed a private offering of $1,150,000 aggregate principal amount of 2.875% Senior Notes due 2026 and $850,000 aggregate principal amount of 4.000% Senior Notes due 2033. The 2026 and 2033 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Refer to Note 2, Fair Value Measurements for information pertaining to the fair value of the Company’s debt as of September 30, 2021 and December 31, 2020.

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Transactions with Related Parties	Transactions with Related Parties The Company has entered into various transactions and agreements with RHI, its subsidiaries, certain other affiliates and related parties (collectively, “Related Parties”). These transactions include providing financing and services as well as obtaining financing and services from these Related Parties. Financing Arrangements On June 9, 2017, Rocket Mortgage and RHI entered into an unsecured line of credit, as further amended and restated on September 16, 2021 (“RHI Line of Credit”), pursuant to which Rocket Mortgage has a borrowing capacity of $2,000,000. The RHI Line of Credit matures on July 27, 2025. Borrowings under the line of credit bear interest at a rate per annum of one month LIBOR plus 1.25%. The line of credit is uncommitted and RHI has sole discretion over advances. The RHI Line of Credit also contains negative covenants which restrict the ability of the Company to incur debt and create liens on certain assets. It also requires Rocket Mortgage to maintain a quarterly consolidated net income before taxes if adjusted tangible net worth meets certain requirements. As of September 30, 2021 and December 31, 2020, there were no outstanding principal amounts due to RHI pursuant to the RHI Line of Credit. As of September 30, 2021 and December 31, 2020, there was outstanding interest due to RHI pursuant to the RHI Line of Credit of $250 and zero, respectively. RHI and ATI are parties to a surplus debenture, effective as of December 28, 2015, and as further amended and restated on December 31, 2019 (the “RHI/ATI Debenture”), pursuant to which ATI is indebted to RHI for an aggregate principal amount of $21,500. The RHI/ATI Debenture matures on December 31, 2030. Interest under the RHI/ATI Debenture accrues at an annual rate of 8%. Principal and interest under the RHI/ATI Debenture are due and payable quarterly, in each case subject to ATI achieving a certain amount of surplus and payments of all interest before principal payments begin. Any unpaid amounts of principal and interest shall be due and payable upon the maturity of the RHI/ATI Debenture. On July 31, 2020, Holdings and RHI entered into an agreement for an uncommitted, unsecured revolving line of credit ("RHI 2nd Line of Credit’’), which will provide for financing from RHI to the Company of up to $100,000. The RHI 2nd Line of Credit matures on July 31, 2025. Borrowings under the line of credit will bear interest at a rate per annum of one month LIBOR plus 1.25%. The negative covenants of the line of credit restrict the ability of the Company to incur debt and create liens on certain assets. The line of credit also contains customary events of default. As of September 30, 2021 and December 31, 2020 there were no amounts outstanding pursuant to the RHI 2nd line of credit. The amounts receivable from and payable to Related Parties consisted of the following as of: September 30, 2021 December 31, 2020 Principal Interest Rate Principal Interest Rate Included in Notes receivable and due from affiliates on the Condensed Consolidated Balance Sheets Affiliated receivables and other notes $ 9,671 — % $ 22,172 — % Notes receivable and due from affiliates $ 9,671 $ 22,172 Included in Notes payable and due to affiliates on the Condensed Consolidated Balance Sheets RHI/ATI Debenture $ 21,500 8.00 % $ 21,500 8.00 % Affiliated payables 8,392 — % 52,396 — % Notes payable and due to affiliates $ 29,892 $ 73,896 Services, Products and Other Transactions We have entered into transactions and agreements to provide certain services to RHI, its subsidiaries and certain other affiliates of our majority shareholder. We recognized revenue of $3,494 and $4,067 for the three months ended September 30, 2021 and 2020, respectively and $10,592 and $9,761 for the nine months ended September 30, 2021 and 2020 respectively, for the performance of these services, which was included in Other income. We have also entered into transactions and agreements to purchase certain services, products and other transactions from certain subsidiaries of RHI and affiliates of our majority shareholder. We incurred expenses of $48,861 and $64,330 for the three months ended September 30, 2021 and 2020, respectively and $121,599 and $164,260 for the nine months ended September 30, 2021 and 2020 respectively, for these products, services and other transactions, which are included in General and administrative expenses. The Company has also entered into a Tax Receivable Agreement with RHI and Dan Gilbert, our founder and Chairman (our "Chairman") as described further in Note 8, Income Taxes. The Company has also guaranteed the debt of a related party as described further in Note 10, Commitments, Contingencies, and Guarantees. Promotional Sponsorships The Company incurred marketing and advertising costs related to the Rocket Mortgage Field House Naming Rights Contract and other promotional sponsorships, which are related parties. The company incurred expenses of $2,180 and $2,373 for the three months ended September 30, 2021 and 2020, respectively and $6,850 and $7,018 for the nine months ended September 30, 2021 and 2020, respectively, related to these arrangements. Lease Transactions with Related Parties The Company is a party to lease agreements for certain offices, including our headquarters in Detroit, with various affiliates of Bedrock Management Services LLC (“Bedrock”), a related party, and other related parties of the Company. The Company incurred expenses of $16,189 and $18,069 for the three months ended September 30, 2021 and 2020, respectively and $51,001 and $52,221 for the nine months ended September 30, 2021 and 2020, respectively, related to these arrangements.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: September 30, 2021 December 31, 2020 Mortgage production related receivables $ 353,722 $ 307,282 Disbursement funds advanced 209,014 80,877 Prepaid expenses 129,895 98,529 Non-production-related receivables 101,617 76,595 Goodwill and other intangible assets 44,151 47,230 Ginnie Mae buyouts 25,490 40,681 Other real estate owned 564 1,131 Margin call receivable from counterparty — 247,604 Other 77,390 41,548 Total other assets $ 941,843 $ 941,477

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company has income tax expense of $32,830 and $61,683 on Income before income taxes of $1,425,689 and $3,057,066 for the three months ended September 30, 2021 and 2020, respectively. The Company has income tax expense of $122,709 and $84,363 on Income before income taxes of $5,329,556 and $6,642,875 for the nine months ended September 30, 2021 and 2020, respectively. The Company’s income tax expense varies from the expense that would be expected based on statutory rates due principally to its organizational structure. Prior to the IPO in 2020, the Company was owned by RHI which has elected S corporation status. When owned by RHI, Rocket Mortgage, Amrock and several other wholly owned corporations had elected to be treated as qualified subchapter S subsidiaries. The shareholders of RHI, as shareholders of an S corporation, are responsible for the federal income tax liabilities. A provision for state income taxes is required for certain jurisdictions that tax S corporations and their qualified Subchapter S subsidiaries and for states where the Company is taxed as a C Corporation. During 2020, in a series of transactions occurring along with the IPO, subsidiaries of the Company were contributed to Holdings by RHI. Several of these subsidiaries, such as Rocket Mortgage, Amrock and other subsidiaries, are no longer qualified Subchapter S corporations and are single member LLC entities owned by Holdings. As single member LLCs of Holdings, all taxable income or loss generated by these subsidiaries will pass through and be included in the income or loss of Holdings. Other contributed subsidiaries of Holdings, such as Amrock Title Insurance Co., LMB Mortgage Services and others, are treated as C Corporations and will separately file and pay taxes apart from Holdings in various jurisdictions including U.S. federal, state, local and Canada. As part of the IPO, Rocket Companies acquired a portion of the units of Holdings, which is treated as a partnership for U.S. federal tax purposes and in most applicable jurisdictions for state and local income tax purposes. The remaining portion of Holdings is owned by RHI and our Chairman ("LLC Members"). As a partnership, Holdings is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Holdings after Rocket Companies acquisition of its portion of Holdings is passed through and included in the taxable income or loss of its members, including Rocket Companies, in accordance with the terms of the operating agreement of Holdings (the "Holdings Operating Agreement"). Rocket Companies is a C Corporation and is subject to U.S. federal, state, and local income taxes with respect to its allocable share of any taxable income of Holdings. Tax Receivable Agreement The Company expects to obtain an increase in its share of the tax basis in the net assets of Holdings when Holdings Units are redeemed from or exchanged by the LLC Members. The Company intends to treat any redemptions and exchanges of Holdings Units as direct purchases of Holdings Units for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that the Company would otherwise pay in the future to various tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. In connection with the IPO, the Company entered into the Tax Receivable Agreement with the LLC Members. The Tax Receivable Agreement provides for the payment by Rocket Companies of 90% of the amount of any cash tax benefits that Rocket Companies actually realizes, or in some cases is deemed to realize, as a result of (i) certain increases in Rocket Companies allocable share of the tax basis in Holdings’ assets resulting from (a) the purchases of Holdings Units (along with the corresponding shares of our Class D common stock or Class C common stock) from the LLC Members (or their transferees of Holdings Units or other assignees) using the net proceeds from our initial public offering or in any future offering, (b) exchanges by the LLC Members (or their transferees of Holdings Units or other assignees) of Holdings Units (along with the corresponding shares of our Class D common stock or Class C common stock) for cash or shares of our Class B common stock or Class A common stock, as applicable, or (c) payments under the Tax Receivable Agreement; (ii) tax benefits related to imputed interest deemed arising as a result of payments made under the Tax Receivable Agreement and (iii) disproportionate allocations (if any) of tax benefits to Holdings as a result of section 704(c) of the Code that relate to the reorganization transactions. The Company expects to benefit from the remaining 10% of any cash savings, if any, that it realizes. Effective on March 31, 2021, the Company and RHI exchanged 20,200,000 shares of Class A common stock for the equivalent number of Paired Interests (in this instance, Holdings Units together with a corresponding number of shares of Class D common stock) which resulted in an increase in the tax basis of assets of Holdings and would be subject to the provisions of the Tax Receivable Agreement. The Company recorded an increase in its deferred tax asset on investment in partnership of $123,587, an increase in the valuation allowance of $3,146, and an increase in the Tax receivable agreement liability of $119,456 with the net offsetting amount of $985 recorded to Additional Paid-in Capital in the Change in controlling interest of investment, net in the Condensed Consolidated Statements of Changes in Equity. During the year ended December 31, 2020, the Company acquired an aggregate of 115,000,000 Holdings Units valued at $2,070,000 in connection with the exchange of those Holdings Units by the LLC Members, which resulted in an increase in the tax basis of the assets of Holdings and would be subject to the provisions of the Tax Receivable Agreement. The amounts payable under the Tax Receivable Agreement will vary depending upon a number of factors, including the amount, character, and timing of the taxable income of Rocket Companies in the future. Any such changes in these factors or changes in the Company’s determination of the need for a valuation allowance related to the tax benefits acquired under the Tax Receivable Agreement could adjust the Tax receivable agreement liability recognized and recorded within earnings in future periods. Tax Distributions The holders of Holdings’ Units, including Rocket Companies Inc., incur U.S. federal, state and local income taxes on their share of any taxable income of Holdings. The Holdings Operating Agreement provides for pro rata cash distributions (“tax distributions”) to the holders of the Holdings Units in an amount generally calculated to provide each holder of Holdings Units with sufficient cash to cover its tax liability in respect of the Holdings Units. In general, these tax distributions are computed based on Holdings’ estimated taxable income, multiplied by an assumed tax rate as set forth in the Holdings Operating Agreement. For the three and nine months ended September 30, 2021, Holdings paid tax distributions totaling $395,057 and $1,801,756, respectively, to holders of Holdings Units other than Rocket Companies. For the three and nine months ended September 30, 2020, Holdings paid tax distributions totaling $5,670, to holders of Holdings Units other than Rocket Companies.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company enters into interest rate lock commitments ("IRLCs"), forward commitments to sell mortgage loans and forward commitments to purchase loans, which are considered derivative financial instruments. These items are accounted for as free-standing derivatives and are included in the Condensed Consolidated Balance Sheets at fair value. The Company treats all of its derivative instruments as economic hedges; therefore, none of its derivative instruments qualify for designation as accounting hedges. Changes in the fair value of the IRLCs and forward commitments to sell mortgage loans are recorded in current period earnings and are included in Gain on sale of loans, net in the Condensed Consolidated Statements of Income and Comprehensive Income. Forward commitments to purchase mortgage loans are recognized in current period earnings and are included in Gain on sale of loans, net in the Condensed Consolidated Statements of Income and Comprehensive Income. The Company enters into IRLCs to fund residential mortgage loans with its potential borrowers. These commitments are binding agreements to lend funds to these potential borrowers at specified interest rates within specified periods of time. The fair value of IRLCs is derived from the fair value of similar mortgage loans or bonds, which is based on observable market data. Changes to the fair value of IRLCs are recognized based on changes in interest rates, changes in the probability that the commitment will be exercised, and the passage of time. The expected net future cash flows related to the associated servicing of the loan are included in the fair value measurement of rate locks. IRLCs and uncommitted mortgage loans held for sale expose the Company to the risk that the value of the mortgage loans held and mortgage loans underlying the commitments may decline due to increases in mortgage interest rates during the life of the commitments. To protect against this risk, the Company uses forward loan sale commitments to economically hedge the risk of potential changes in the value of the loans. These derivative instruments are recorded at fair value. The Company expects that the changes in fair value of these derivative financial instruments will either fully or partially offset the changes in fair value of the IRLCs and uncommitted mortgage loans held for sale. The changes in the fair value of these derivatives are recorded in Gain on sale of loans, net. MSRs assets (including the MSRs value associated with outstanding IRLCs) that the Company plans to sell expose the Company to the risk that the value of the MSRs asset may decline due to decreases in mortgage interest rates prior to the sale of these assets. To protect against this risk, the Company uses forward loan purchase commitments to economically hedge the risk of potential changes in the value of MSRs assets that have been identified for sale. These derivative instruments are recorded at fair value. The Company expects that the changes in fair value of these derivative financial instruments will either fully or partially offset the changes in fair value of the MSRs assets the Company intends to sell. The changes in fair value of these derivatives are recorded in the Change in fair value of MSRs. Forward commitments include To-Be-Announced ("TBA") mortgage-backed securities that have been aggregated at the counterparty level for presentation and disclosure purposes. Counterparty agreements contain a legal right to offset amounts due to and from the same counterparty under legally enforceable master netting agreements to settle with the same counterparty, on a net basis, as well as the right to obtain cash collateral. Forward commitments also include commitments to sell loans to counterparties and to purchase loans from counterparties at determined prices. The Company uses forward commitments in hedging the interest rate risk exposure on its fixed and adjustable rate commitments. Utilization of forward commitments involves some degree of basis risk. Basis risk is defined as the risk that the hedged instrument’s price does not move in parallel with the increase or decrease in the market price of the hedged financial instrument. The Company calculates an expected hedge ratio to mitigate a portion of this risk. The Company’s derivative instruments are not designated as accounting hedging instruments, and therefore, changes in fair value are recorded in current period earnings. Hedging gains and losses are included in Gain on sale of loans, net in the Condensed Consolidated Statements of Income and Comprehensive Income. Net hedging gains and losses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Hedging gains (losses) (1) $ 652,337 $ (776,086) $ 2,020,328 $ (2,283,874) (1) Includes the change in fair value related to derivatives economically hedging MSRs identified for sale. Refer to Note 2, Fair Value Measurements, for additional information on the fair value of derivative financial instruments. Notional and Fair Value The notional and fair values of derivative financial instruments not designated as hedging instruments were as follows: Notional Value Derivative Asset Derivative Liability Balance at September 30, 2021: IRLCs, net of loan funding probability (1) $ 30,537,502 $ 794,258 $ — Forward commitments (2) $ 45,033,900 $ 253,200 $ 35,795 Balance at December 31, 2020: IRLCs, net of loan funding probability (1) $ 40,560,544 $ 1,897,194 $ — Forward commitments (2) $ 59,041,900 $ 20,584 $ 506,071 (1) IRLCs are also discussed in Note 10, Commitments, Contingencies, and Guarantees. (2) Includes the fair value and net notional value related to derivatives economically hedging MSRs identified for sale. Counterparty agreements for forward commitments contain master netting agreements. The table below presents the gross amounts of recognized assets and liabilities subject to master netting agreements. The Company had zero and $247,604 of cash pledged to counterparties related to these forward commitments at September 30, 2021 and December 31, 2020, respectively, classified in Other assets in the Condensed Consolidated Balance Sheets. As of September 30, 2021 and December 31, 2020, the Company had $266,603 and zero, respectively, of cash pledged from counterparties related to these forward commitments. Margins received by the Company are classified in Other liabilities in the Condensed Consolidated Balance Sheets. Gross Amount of Recognized Assets or Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts Presented in the Condensed Consolidated Balance Sheets Offsetting of Derivative Assets Balance at September 30, 2021: Forward commitments $ 404,896 $ (151,696) $ 253,200 Balance at December 31, 2020: Forward commitments $ 35,746 $ (15,162) $ 20,584 Offsetting of Derivative Liabilities Balance at September 30, 2021: Forward commitments $ (64,225) $ 28,430 $ (35,795) Balance at December 31, 2020: Forward commitments $ (715,671) $ 209,600 $ (506,071) Counterparty Credit Risk Credit risk is defined as the possibility that a loss may occur from the failure of another party to perform in accordance with the terms of the contract, which exceeds the value of existing collateral, if any. The Company attempts to limit its credit risk by dealing with creditworthy counterparties and obtaining collateral where appropriate. The Company is exposed to credit loss in the event of contractual nonperformance by its trading counterparties and counterparties to its various over-the-counter derivative financial instruments noted in the above Notional and Fair Value discussion. The Company manages this credit risk by selecting only counterparties that it believes to be financially strong, spreading the credit risk among many such counterparties, placing contractual limits on the amount of unsecured credit extended to any single counterparty, and entering into netting agreements with the counterparties as appropriate. Certain counterparties have master netting agreements. The master netting agreements contain a legal right to offset amounts due to and from the same counterparty. Derivative assets in the Condensed Consolidated Balance Sheets represent derivative contracts in a gain position, net of loss positions with the same counterparty and, therefore, also represent the Company’s maximum counterparty credit risk. The Company incurred no credit losses due to nonperformance of any of its counterparties during the three and nine months ended September 30, 2021 and 2020.

Commitments, Contingencies, and

Commitments, Contingencies, and Guarantees	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies, and Guarantees	Commitments, Contingencies, and Guarantees Interest Rate Lock Commitments IRLCs are agreements to lend to a client as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The Company evaluates each client’s creditworthiness on a case-by-case basis. The number of days from the date of the IRLC to expiration of fixed and variable rate lock commitments outstanding at September 30, 2021 and December 31, 2020 was approximately 43 days on average. The UPB of IRLCs was as follows: September 30, 2021 December 31, 2020 Fixed Rate Variable Rate Fixed Rate Variable Rate IRLCs $ 37,296,375 $ 1,919,846 $ 53,736,717 $ 1,065,936 Commitments to Sell Mortgage Loans In the ordinary course of business, the Company enters into contracts to sell existing mortgage loans held for sale into the secondary market at specified future dates. The amount of commitments to sell existing loans at September 30, 2021 and December 31, 2020 was $5,717,997 and $3,139,816, respectively. Commitments to Sell Loans with Servicing Released In the ordinary course of business, the Company enters into contracts to sell the MSRs of certain newly originated loans on a servicing released basis. In the event that a forward commitment is not filled and there has been an unfavorable market shift from the date of commitment to the date of settlement, the Company is contractually obligated to pay a pair-off fee on the undelivered balance. There were $734,370 and $280,502 in UPB of loans committed to be sold servicing released at September 30, 2021 and December 31, 2020, respectively. Investor Reserves The following presents the activity in the investor reserves: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 74,202 $ 63,012 $ 87,191 $ 54,387 Provision for (benefit from) investor reserves 6,327 (3,665) (7,642) 5,698 Premium recapture and indemnification losses paid (208) (2,329) 772 (3,067) Balance at end of period $ 80,321 $ 57,018 $ 80,321 $ 57,018 The maximum exposure under the Company’s representations and warranties would be the outstanding principal balance and any premium received on all loans ever sold by the Company, less (i) loans that have already been paid in full by the mortgagee, (ii) loans that have defaulted without a breach of representations and warranties, (iii) loans that have been indemnified via settlement or make-whole, or (iv) loans that have been repurchased. Additionally, the Company may receive relief of certain representation and warranty obligations on loans sold to Fannie Mae or Freddie Mac on or after January 1, 2013 if Fannie Mae or Freddie Mac satisfactorily concludes a quality control loan file review or if the borrower meets certain acceptable payment history requirements within 12 or 36 months after the loan is sold to Fannie Mae or Freddie Mac. Property Taxes, Insurance, and Principal and Interest Payable As a service to its clients, the Company administers escrow deposits representing undisbursed amounts received for payment of property taxes, insurance and principal, and interest on mortgage loans held for sale. Cash held by the Company for property taxes and insurance was $5,247,722 and $3,551,400, and for principal and interest was $9,915,371 and $13,065,549 at September 30, 2021 and December 31, 2020, respectively. These amounts are not considered assets of the Company and, therefore, are excluded from the Condensed Consolidated Balance Sheets. The Company remains contingently liable for the disposition of these deposits. Guarantees As of September 30, 2021 and December 31, 2020, the Company guaranteed the debt of a related party consisting of three separate guarantees totaling $5,356 and $15,000, respectively. As of September 30, 2021 and December 31, 2020, the Company did not record a liability on the Condensed Consolidated Balance Sheets for these guarantees because it was not probable that the Company would be required to make payments under these guarantees. Trademark License The Company has a perpetual trademark license agreement with a third-party entity. This agreement requires annual payments by the Company based upon the income from the sale of loans generated under the Quicken Loans brand. Total licensing fees incurred and paid were zero and $1,875 for the three months ended September 30, 2021 and 2020 respectively, and $625 and $3,750 for the nine months ended September 30, 2021 and 2020, respectively, which is classified in Other expenses in the Condensed Consolidated Statements of Income and Comprehensive Income. The Company has entered into an agreement with Intuit that, among other things, gives the Company full ownership of the “Quicken Loans” brand in 2022 in exchange for certain agreements, subject to the satisfaction of certain conditions. We have fulfilled our payment obligations pertaining to the licensing agreement with Intuit in 2021 and no further expenses are expected. Tax Receivable Agreement As indicated in Note 8, Income Taxes, the Company is party to a Tax Receivable Agreement. Legal Rocket Companies' subsidiaries, among other things, engage in mortgage lending, title and settlement services, and other financial technology services. Rocket Companies and its subsidiaries operate in highly regulated industries and are routinely subject to various legal and administrative proceedings concerning matters that arise in the normal and ordinary course of business, including inquiries, complaints, subpoenas, audits, examinations, investigations and potential enforcement actions from regulatory agencies and state attorney generals; state and federal lawsuits and putative class actions; and other litigation. Periodically, we assess our potential liabilities and contingencies in connection with outstanding legal and administrative proceedings utilizing the latest information available. While it is not possible to predict the outcome of any of these matters, based on our assessment of the facts and circumstances, we do not believe any of these matters, individually or in the aggregate, will have a material adverse effect on our financial position, results of operations or cash flows. However, actual outcomes may differ from those expected and could have a material effect on our financial position, results of operations, or cash flows in a future period. Rocket Companies accrues for losses when they are probable to occur and such losses are reasonably estimable. Legal costs are expensed as they are incurred.

Minimum Net Worth Requirements

Minimum Net Worth Requirements	9 Months Ended
	Sep. 30, 2021
Mortgage Banking [Abstract]
Minimum Net Worth Requirements	Minimum Net Worth Requirements Certain secondary market investors and state regulators require the Company to maintain minimum net worth and capital requirements. To the extent that these requirements are not met, secondary market investors and/or the state regulators may utilize a range of remedies including sanctions, and/or suspension or termination of selling and servicing agreements, which may prohibit the Company from originating, securitizing or servicing these specific types of mortgage loans. Rocket Mortgage is subject to the following minimum net worth, minimum capital ratio and minimum liquidity requirements established by the Federal Housing Finance Agency (“FHFA”) for Fannie Mae and Freddie Mac Seller/Servicers, and Ginnie Mae for single family issuers. Furthermore, refer to Note 5, Borrowings for additional information regarding compliance with all covenant requirements. Minimum Net Worth The minimum net worth requirement for Fannie Mae and Freddie Mac is defined as follows: • Base of $2,500 plus 25 basis points of outstanding UPB for total loans serviced. • Adjusted/Tangible Net Worth is defined as total equity less goodwill, intangible assets, affiliate receivables and certain pledged assets. The minimum net worth requirement for Ginnie Mae is defined as follows: • Base of $2,500 plus 35 basis points of the Ginnie Mae total single-family effective outstanding obligations. • Adjusted/Tangible Net Worth is defined as total equity less goodwill, intangible assets, affiliate receivables and certain pledged assets. Effective for fiscal year 2020, under the Ginnie Mae MBS Guide, the issuers will no longer be permitted to include deferred tax assets when computing the minimum net worth requirements. Minimum Capital Ratio • For Fannie Mae, Freddie Mac and Ginnie Mae, the Company is also required to hold a ratio of Adjusted/Tangible Net Worth to Total Assets greater than 6%. Minimum Liquidity The minimum liquidity requirement for Fannie Mae and Freddie Mac is defined as follows: • 3.5 basis points of total Agency servicing. • Incremental 200 basis points of total nonperforming Agency, measured as 90+ delinquencies, servicing in excess of 6% of the total Agency servicing UPB. • Allowable assets for liquidity may include cash and cash equivalents (unrestricted) and available for sale or held for trading investment grade securities (e.g., Agency MBS, Obligations of GSEs, US Treasury Obligations). The minimum liquidity requirement for Ginnie Mae is defined as follows: • Maintain liquid assets equal to the greater of $1,000 or 10 basis points of our outstanding single-family MBS. The most restrictive of the minimum net worth and capital requirements require the Company to maintain a minimum adjusted net worth balance of $2,063,446 and $2,175,968 as of September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021 and December 31, 2020, the Company was in compliance with this requirement.

Segments

Segments	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segments	Segments The Company’s Chief Executive Officer, who has been identified as its Chief Operating Decision Maker (“CODM”), has evaluated how the Company views and measures its performance. ASC 280, Segment Reporting establishes the standards for reporting information about segments in financial statements. In applying the criteria set forth in that guidance, the Company has determined that it has two reportable segments — Direct to Consumer and Partner Network. The key factors used to identify these reportable segments are the organization and alignment of the Company’s internal operations and the nature of its marketing channels, which drive client acquisition into the mortgage platform. This determination reflects how its CODM monitors performance, allocates capital and makes strategic and operational decisions. The Company’s segments are described as follows: Direct to Consumer In the Direct to Consumer segment, clients have the ability to interact with Rocket Mortgage online and/or with the Company’s mortgage bankers. The Company markets to potential clients in this segment through various brand campaigns and performance marketing channels. The Direct to Consumer segment derives revenue from originating, closing, selling and servicing predominantly agency-conforming loans, which are pooled and sold to the secondary market. The segment also includes title insurance, appraisals and settlement services complementing the Company’s end-to-end mortgage origination experience. Servicing activities are fully allocated to the Direct to Consumer segment and are viewed as an extension of the client experience. Servicing enables Rocket Mortgage to establish and maintain long term relationships with our clients, through multiple touchpoints at regular engagement intervals. Revenues in the Direct to Consumer segment are generated primarily from the gain on sale of loans, which includes loan origination fees, revenues from sales of loans into the secondary market, as well as the fair value of originated MSRs and hedging gains and losses. Loan servicing (loss) income, net consists of the contractual fees earned for servicing loans and other ancillary servicing fees, as well as changes in the fair value of MSRs due to changes in valuation assumptions and realization of cash flows. Partner Network The Rocket Professional platform supports our Partner Network segment, where we leverage our superior client service and widely recognized brand to grow marketing and influencer relationships, and our mortgage broker partnerships through Rocket Pro TPO. Our marketing partnerships consist of well-known consumer-focused companies that find value in our award-winning client experience and want to offer their clients mortgage solutions with our trusted, widely recognized brand. These organizations connect their clients directly to us through marketing channels and a referral process. Our influencer partnerships are typically with companies that employ licensed mortgage professionals that find value in our client experience, technology and efficient mortgage process, where mortgages may not be their primary offering. We also enable clients to start the mortgage process through the Rocket platform in the way that works best for them, including through a local mortgage broker. Revenues in the Partner Network segment are generated primarily from the gain on sale of loans, which includes loan origination fees, revenues from sales of loans into the secondary market, as well as the fair value of originated MSRs and hedging gains and losses. Other Information About Our Segments The Company measures the performance of the segments primarily on a contribution margin basis. The accounting policies applied by our segments are the same as those described in Note 1, Business, Basis of Presentation and Accounting Policies and the decrease in MSRs due to valuation assumptions is consistent with the changes described in Note 3, Mortgage Servicing Rights . Directly attributable expenses include Salaries, commissions and team member benefits, General and administrative expenses and Other expenses, such as servicing costs and origination costs. The Company does not allocate assets to its reportable segments as they are not included in the review performed by the CODM for purposes of assessing segment performance and allocating resources. The balance sheet is managed on a consolidated basis and is not used in the context of segment reporting. The Company also reports an “All Other” category that includes operations from Rocket Homes, Rock Connections, Rocket Auto, Core Digital Media, Rocket Loans, and includes professional service fee revenues from related parties. These operations are neither significant individually nor in aggregate and therefore do not constitute a reportable segment. Key operating data for our business segments for the three and nine months ended: Three Months Ended September 30, 2021 Direct to Partner Segments All Other Total Revenues Gain on sale $ 2,241,633 $ 402,649 $ 2,644,282 $ 9,931 $ 2,654,213 Interest income 77,112 51,815 128,927 1,036 129,963 Interest expense on funding facilities (43,528) (29,248) (72,776) (2) (72,778) Servicing fee income 333,653 — 333,653 695 334,348 Changes in fair value of MSRs (341,361) — (341,361) — (341,361) Other income 234,381 31,301 265,682 144,663 410,345 Total U.S. GAAP Revenue, net 2,501,890 456,517 2,958,407 156,323 3,114,730 Plus: Decrease in MSRs due to valuation assumptions (net of hedges) 47,514 — 47,514 — 47,514 Adjusted revenue 2,549,404 456,517 3,005,921 156,323 3,162,244 Directly attributable expenses 927,897 176,246 1,104,143 67,892 1,172,035 Contribution margin $ 1,621,507 $ 280,271 $ 1,901,778 $ 88,431 $ 1,990,209 Nine Months Ended September 30, 2021 Direct to Consumer Partner Network Segments Total All Other Total Revenues Gain on sale $ 7,155,872 $ 1,374,729 $ 8,530,601 $ 17,543 $ 8,548,144 Interest income 188,269 121,097 309,366 2,487 311,853 Interest expense on funding facilities (124,942) (80,010) (204,952) (48) (205,000) Servicing fee income 967,993 — 967,993 2,065 970,058 Changes in fair value of MSRs (556,201) — (556,201) — (556,201) Other income 769,152 82,306 851,458 401,387 1,252,845 Total U.S. GAAP Revenue, net 8,400,143 1,498,122 9,898,265 423,434 10,321,699 Less: Increase in MSRs due to valuation assumptions (net of hedges) (329,608) — (329,608) — (329,608) Adjusted revenue 8,070,535 1,498,122 9,568,657 423,434 9,992,091 Directly attributable expenses 2,808,340 532,087 3,340,427 196,805 3,537,232 Contribution margin $ 5,262,195 $ 966,035 $ 6,228,230 $ 226,629 $ 6,454,859 Three Months Ended September 30, 2020 Direct to Consumer Partner Network Segments Total All Other Total Revenues Gain on sale $ 3,128,695 $ 1,151,071 $ 4,279,766 $ 676 $ 4,280,442 Interest income 53,764 25,691 79,455 435 79,890 Interest expense on funding facilities (46,936) (22,428) (69,364) — (69,364) Servicing fee income 271,254 — 271,254 904 272,158 Changes in fair value of MSRs (392,688) — (392,688) — (392,688) Other income 237,855 47,858 285,713 160,044 445,757 Total U.S. GAAP Revenue, net 3,251,944 1,202,192 4,454,136 162,059 4,616,195 Plus: Decrease in MSRs due to valuation assumptions (net of hedges) 126,977 — 126,977 — 126,977 Adjusted revenue 3,378,921 1,202,192 4,581,113 162,059 4,743,172 Directly attributable expenses 930,227 141,214 1,071,441 113,464 1,184,905 Contribution margin $ 2,448,694 $ 1,060,978 $ 3,509,672 $ 48,595 $ 3,558,267 Nine Months Ended September 30, 2020 Direct to Consumer Partner Network Segments Total All Other Total Revenues Gain on sale $ 8,759,914 $ 2,089,285 $ 10,849,199 $ 6,936 $ 10,856,135 Interest income 152,087 77,638 229,725 2,246 231,971 Interest expense on funding facilities (107,718) (54,451) (162,169) (411) (162,580) Servicing fee income 776,117 — 776,117 2,976 779,093 Changes in fair value of MSRs (1,985,545) — (1,985,545) — (1,985,545) Other income 589,415 107,328 696,743 553,738 1,250,481 Total U.S. GAAP Revenue, net 8,184,270 2,219,800 10,404,070 565,485 10,969,555 Plus: Decrease in MSRs due to valuation assumptions (net of hedges) 1,193,442 — 1,193,442 — 1,193,442 Adjusted revenue 9,377,712 2,219,800 11,597,512 565,485 12,162,997 Directly attributable expenses 2,611,044 372,337 2,983,381 282,379 3,265,760 Contribution margin $ 6,766,668 $ 1,847,463 $ 8,614,131 $ 283,106 $ 8,897,237 The following table represents a reconciliation of segment contribution margin to consolidated U.S. GAAP income before taxes for the three and nine months ended: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Contribution margin, excluding change in MSRs due to valuation assumptions $ 1,990,209 $ 3,558,267 $ 6,454,859 $ 8,897,237 (Decrease) increase in MSRs due to valuation assumptions (net of hedges) (47,514) (126,977) 329,608 (1,193,442) Contribution margin, including change in MSRs due to valuation assumptions 1,942,695 3,431,290 6,784,467 7,703,795 Less expenses not allocated to segments : Salaries, commissions and team member benefits 237,410 198,482 694,421 602,832 General and administrative expenses 224,597 122,137 595,283 310,711 Depreciation and amortization 19,577 15,329 55,470 47,633 Interest and amortization expense on non-funding debt 34,163 38,016 104,772 104,291 Other expenses 1,259 260 4,965 (4,547) Income before income taxes $ 1,425,689 $ 3,057,066 $ 5,329,556 $ 6,642,875

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Rocket Companies, Inc. is the sole managing member of Holdings with 100% of the management and voting power in Holdings. In its capacity as managing member, Rocket Companies, Inc. has the sole authority to make decisions on behalf of Holdings and bind Holdings to signed agreements. Further, Holdings maintains separate capital accounts for its investors as a mechanism for tracking earnings and subsequent distribution rights. Accordingly, management concluded that Holdings is a limited partnership or similar legal entity as contemplated in ASC 810, Consolidation . Furthermore, management concluded that Rocket Companies, Inc. is Holdings’ primary beneficiary. As the primary beneficiary, Rocket Companies, Inc. consolidates the results and operations of Holdings for financial reporting purposes under the variable interest consolidation model guidance in ASC 810. Rocket Companies, Inc.'s relationship with Holdings results in no recourse to the general credit of Rocket Companies, Inc. Holdings and its consolidated subsidiaries represents Rocket Companies, Inc.'s sole investment. Rocket Companies, Inc. shares in the income and losses of Holdings in direct proportion to Rocket Companies, Inc.'s ownership percentage. Further, Rocket Companies, Inc. has no contractual requirement to provide financial support to Holdings. Rocket Companies, Inc.’s financial position, performance and cash flows effectively represent those of Holdings and its subsidiaries as of and for the period ended September 30, 2021. Prior to the reorganization and IPO, Rocket Companies, Inc. was not impacted by Holdings.

Non-controlling Interests

Non-controlling Interests	9 Months Ended
	Sep. 30, 2021
Noncontrolling Interest [Abstract]
Non-controlling Interests	Non-controlling Interests The non-controlling interest balance represents the economic interest in Holdings held by our Chairman and RHI. The following table summarizes the ownership of Holdings Units in Holdings as of September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Holdings Units Ownership Percentage Holdings Units Ownership Percentage Rocket Companies, Inc.'s ownership of Holdings Units 137,367,428 6.91 % 115,372,565 5.81 % Holdings Units held by our Chairman 1,101,822 0.06 % 1,101,822 0.06 % Holdings Units held by RHI 1,847,777,661 93.03 % 1,867,977,661 94.13 % Balance at end of period 1,986,246,911 100.00 % 1,984,452,048 100.00 % The non-controlling interest holders have the right to exchange Holdings Units, together with a corresponding number of shares of our Class D common stock or Class C common stock (together referred to as “Paired Interests”), for, at our option, (i) shares of our Class B common stock or Class A common stock or (ii) cash from a substantially concurrent public offering or private sale (based on the price of our Class A common stock). As such, future exchanges of Paired Interests by non-controlling interest holders will result in a change in ownership and reduce or increase the amount recorded as non-controlling interest and increase or decrease additional paid-in-capital when Holdings has positive or negative net assets, respectively. As of September 30, 2021, our Chairman has not exchanged any Paired Interests. As of December 31, 2020, neither our Chairman or RHI had exchanged any Paired Interests. Effective on March 31, 2021, the Company and RHI exchanged 20,200,000 shares of Class A common stock for the equivalent number of Paired Interests (in this instance, Holdings Units together with a corresponding number of shares of Class D common stock). This transaction resulted in an increase of Rocket Companies' controlling interest and a corresponding decrease of non-controlling interest of approximately 1.0%.

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation The Company grants various types of share-based awards, both equity and cash awards, to various team members and directors of the Company and its affiliates. Included in share-based compensation expense for the Company are RKT and RHI denominated awards. Share-based compensation expense is included in Salaries, commissions and team member benefits on the Condensed Consolidated Statements of Income and Comprehensive Income . In connection with the IPO, equity-based awards were issued under the Rocket Companies, Inc. 2020 Omnibus Incentive Plan including restricted stock units and stock options to purchase shares of our Class A common stock at an exercise price equal to the price to the public in the initial public offering. Share-based compensation expense is recognized on a straight-line basis over the requisite service period based on the fair value of the award on the date of grant. Team Member Stock Purchase Plan The Team Member Stock Purchase Plan ("TMSPP") was initiated in December 2020, with the first offering period beginning in January 2021. Under the TMSPP, the Company is authorized to issue up to 10,526,316 shares of its common stock to qualifying team members. Eligible team members may direct the Company, during each three-month option period, to withhold up to 15% of their gross pay, the proceeds from which are used to purchase shares of common stock at a price equal to 85% of the closing market price on the exercise date. Under ASC 718, the TMSPP is a liability classified compensatory plan and the Company recognizes compensation expense over the offering period based on the fair value of the purchase discount. There were 947,358 shares purchased by team members during the three months ended September 30, 2021 and 1,844,059 shares purchased for the nine months ended September 30, 2021 under the TMSPP. Share-based Compensation Expense A summary of share-based compensation expense recognized during the three and nine months ended September 30, 2021 and September 30, 2020 related to RKT-denominated awards is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 RKT restricted stock units $ 26,615 $ 18,590 $ 81,179 $ 18,590 RKT stock options 10,257 6,620 30,155 6,620 RKT Team Member Stock Purchase Plan 2,354 — 7,638 — RKT denominated share-based compensation expense $ 39,226 $ 25,210 $ 118,972 $ 25,210 A summary of share-based compensation expense recognized during the three and nine months ended September 30, 2021 and September 30, 2020 related to RHI-denominated awards is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 RHI restricted stock units $ 1,372 $ 7,992 $ 4,117 $ 68,177 RHI stock options — — — 32 RHI cash settled awards — — — 26,421 RHI denominated share-based compensation expense $ 1,372 $ 7,992 $ 4,117 $ 94,630

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company applies the two-class method for calculating and presenting earnings per share by separately presenting earnings per share for Class A common stock and Class B common stock. In applying the two-class method, the Company allocates undistributed earnings equally on a per share basis between Class A and Class B common stock. According to the Company’s certificate of incorporation, the holders of the Class A and Class B common stock are entitled to participate in earnings equally on a per-share basis, as if all shares of common stock were of a single class, and in dividends as may be declared by the board of directors. Holders of the Class A and Class B common stock also have equal priority in liquidation. Shares of Class C and Class D common stock do not participate in earnings of Rocket Companies, Inc. As a result, the shares of Class C and Class D common stock are not considered participating securities and are not included in the weighted-average shares outstanding for purposes of earnings per share. Restricted stock units awarded as part of the Company’s compensation program are included in the weighted-average Class A shares outstanding in the calculation of basic earnings per share ("EPS") once the units are fully vested. Basic earnings per share of Class A common stock is computed by dividing Net income attributable to Rocket Companies by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing Net income attributable to Rocket Companies by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. There was no Class B common stock outstanding as of September 30, 2021. The basic and diluted earnings per share period for the three and nine months ended September 30, 2020, represents only the period from August 6, 2020 to September 30, 2020, which represents the period wherein the Company had outstanding Class A common stock. There was no Class B common stock outstanding as of September 30, 2020. See Note 14, Non-controlling Interests for a description of Paired Interests and their potential impact on Class A and Class B share ownership. The following table sets for the calculation of the basic and diluted earnings per share for the period: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net income $ 1,392,859 $ 2,995,383 $ 5,206,847 $ 6,558,512 Net income attributable to non-controlling interest (1,317,522) (2,937,480) (4,946,688) (6,500,609) Net income attributable to Rocket Companies 75,337 57,903 260,159 57,903 Add: Reallocation of Net income attributable to vested, undelivered stock awards 39 — 141 — Net income attributable to common shareholders $ 75,376 $ 57,903 $ 260,300 $ 57,903 Numerator: Net income attributable to Class A common shareholders - basic $ 75,376 $ 57,903 $ 260,300 $ 57,903 Add: Reallocation of net income attributable to dilutive impact of pro-forma conversion of Class D shares to Class A shares (1) 991,852 — — — Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards (2) 2,294 — 10,254 — Net income attributable to Class A common shareholders - diluted $ 1,069,522 $ 57,903 $ 270,554 $ 57,903 Denominator: Weighted average shares of Class A common stock outstanding - basic 137,664,471 106,265,422 129,902,253 106,265,422 Add: Dilutive impact of conversion of Class D shares to Class A shares 1,848,879,483 — — — Add: Dilutive impact of share-based compensation awards (3) 4,284,397 — 5,490,417 — Weighted average shares of Class A common stock outstanding - diluted 1,990,828,351 106,265,422 135,392,670 106,265,422 Earnings per share of Class A common stock outstanding - basic $ 0.55 $ 0.54 $ 2.00 $ 0.54 Earnings per share of Class A common stock outstanding - diluted $ 0.54 $ 0.54 $ 2.00 $ 0.54 (1) Net income calculated using the estimated annual effective tax rate of Rocket Companies, Inc. (2) Reallocation of net income attributable to dilutive impact of share-based compensation awards for the three months ended September 30, 2021 and 2020 comprised of $2,223 and zero related to restricted stock units, none related to stock options and $71 and zero related to TMSPP. Reallocation of net income attributable to dilutive impact of share-based compensation awards for the nine months ended September 30, 2021 and 2020 comprised of $10,027 and zero related to restricted stock units, none related to stock options and $227 and zero related to TMSPP. (3) Dilutive impact of share-based compensation awards for the three months ended September 30, 2021 and 2020 comprised of 4,151,765 and zero related to restricted stock units, none related to stock options and 132,632 and zero related to TMSPP. Dilutive impact of share-based compensation awards for the nine months ended September 30, 2021 and 2020 comprised of 5,369,320 and zero related to restricted stock units, none related to stock options and 121,097 and zero related to TMSPP. For the period from January 1, 2021 to September 30, 2021, 1,855,464,831 Holdings Units, each weighted for the portion of the period for which they were outstanding, together with a corresponding number of shares of our Class D common stock, were exchangeable, at our option, for shares of our Class A common stock. After evaluating the potential dilutive effect under the if-converted method, the outstanding Holdings Units for the assumed exchange of non-controlling interests were determined to be anti-dilutive and thus were excluded from the computation of diluted earnings per share. For the period from August 6, 2020 to September 30, 2020, 1,878,058,054 Holdings Units, each weighted for the portion of the period for which they were outstanding, together with a corresponding number of shares of our Class D common stock, were exchangeable, at our option, for shares of our Class A common stock. After evaluating the potential dilutive effect under the if-converted method, the outstanding Holdings Units for the assumed exchange of noncontrolling interests were determined to be anti-dilutive and thus were excluded from the computation of diluted earnings per share. For the period from August 6, 2020 to September 30, 2020, 16,601,433 RSUs, each weighted for the portion of the period for which they were outstanding, were excluded from the computation of diluted earnings per share as the effect was determined to be anti-dilutive. For the period from August 6, 2020 to September 30, 2020, 26,235,912 stock options, each weighted for the portion of the period for which they were outstanding, were excluded from the computation of diluted earnings per share as the effect was determined to be anti-dilutive.

Business, Basis of Presentati_2

Business, Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	Prior to the completion of the initial public offering, RHI, Holdings and its subsidiaries consummated an internal reorganization in which Rocket Companies, Inc. became the sole managing member of Holdings. Prior to the reorganization, Rocket Companies, Inc. had no operations. As the sole managing member of Holdings, the Company operates and controls all of the business affairs of Holdings, and through Holdings and its subsidiaries, conducts its business. Holdings is considered a variable interest entity (“VIE”) and we consolidate the financial results of Holdings under the guidance of ASC 810, Consolidation. A portion of our Net income is allocated to Net income attributable to non-controlling interest. For further details, refer to Note 13 , Variable Interest Entities and Note 14 , Non-controlling Interests. Income from Holdings and its subsidiaries prior to the reorganization and IPO has been accounted for as a non-controlling interest in our Condensed Consolidated Statements of Income and Comprehensive Income. Accumulated net income prior to the reorganization and IPO is presented in Net Parent Investment in our Condensed Consolidated Statements of Changes in Equity as the financial statements prior to the reorganization and IPO reflect combined subsidiaries operating as part of RHI. We have accounted for the reorganization as one of entities under common control and the Net Parent Investment was allocated between Total Non-controlling Interest and Additional Paid-in Capital based on the ownership of Holdings. Our condensed consolidated financial statements for periods prior to the reorganization and IPO reflect the combined subsidiaries that historically operated as part of RHI. We have further adjusted the prior period results for the three and nine months ended September 30, 2020, to retrospectively reflect the acquisition of Amrock Title Insurance Company (“ATI”) which qualified as a common control transaction as discussed further below in t he Acquisition Agreement secti on. All significant intercompany transactions and accounts between the businesses comprising the Company have been eliminated in the accompanying condensed consolidated financial statements. All transactions and accounts between RHI and other related parties with the Company have a history of settlement or will be settled for cash and are reflected as related party transactions. For further details of the Company’s related party transactions refer to Note 6, Transactions with Related Parties
Basis of Presentation	Our condensed consolidated financial statements are unaudited and presented in U.S. dollars. They have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC. In our opinion, these condensed consolidated financial statements include all normal and recurring adjustments considered necessary for a fair statement of our results of operations, financial position and cash flows for the periods presented. Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. However, our results of operations for any interim period are not necessarily indicative of the results that may be expected for a full fiscal year or for any other future period.
Management Estimates	Management EstimatesThe preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Although management is not currently aware of any factors that would significantly change its estimates and assumptions, actual results may differ from these estimates.
Revenue Recognition	Revenue Recognition Gain on sale of loans, net —includes all components related to the origination and sale of mortgage loans, including (1) net gain on sale of loans, which represents the premium we receive in excess of the loan principal amount and certain fees charged by investors upon sale of loans into the secondary market, (2) loan origination fees (credits), points and certain costs, (3) provision for or benefit from investor reserves, (4) the change in fair value of interest rate locks and loans held for sale, (5) the gain or loss on forward commitments hedging loans held for sale and interest rate lock commitments (IRLCs), and (6) the fair value of originated MSRs. An estimate of the Gain on sale of loans, net is recognized at the time an IRLC is issued, net of a pull-through factor. Subsequent changes in the fair value of IRLCs and mortgage loans held for sale are recognized in current period earnings. When the mortgage loan is sold into the secondary market, any difference between the proceeds received and the current fair value of the loan is recognized in current period earnings in Gain on sale of loans, net. Included in Gain on sale of loans, net is the Fair value of originated MSRs, which represents the estimated fair value of MSRs related to loans which we have sold and retained the right to service. Refer to Note 3, Mortgage Servicing Rights for information related to the Total changes in fair value of MSRs. Loan servicing (loss) income, net —includes income from servicing, sub-servicing and ancillary fees, and is recorded to income as earned, which is upon collection of payments from borrowers. This amount also includes the Change in fair value of MSRs, which is the adjustment for the fair value measurement of the MSRs asset as of the respective balance sheet date. Interest income, net —includes interest earned on mortgage loans held for sale and mortgage loans held for investment net of the interest expense paid on our loan funding facilities. Interest income is recorded as earned and interest expense is recorded as incurred. Other income —is derived primarily from lead generation revenue, professional service fees, real estate network referral fees, contact center revenue, personal loans business, closing fees, net appraisal revenue, and net title insurance fees. The following revenue streams fall within the scope of ASC Topic 606—Revenue from Contracts with Customers and are disaggregated hereunder: Core Digital Media lead generation revenue —The Company recognizes online consumer acquisition revenue based on successful delivery of marketing leads to a client at a fixed fee per lead. This service is satisfied at the time the lead is delivered, at which time revenue for the service is recognized. Online consumer acquisition revenue, net of intercompany eliminations, were $7,784 and $5,755 for the three months ended September 30, 2021 and 2020, respectively and $22,549 and $18,819 for the nine months ended September 30, 2021 and 2020, respectively. Professional service fees —The Company recognizes professional service fee revenue based on the delivery of services (e.g., human resources, technology, training) over the term of a contract. Consideration for the promised services is received through a combination of a fixed fee for the period and incremental fees paid for optional services that are available at an incremental rate determined at the time such services are requested. The Company recognizes the annual fee ratably over the life of the contract, as the performance obligation is satisfied equally over the term of the contract. For the optional services, revenue is only recognized at the time the services are requested and delivered and pricing is agreed upon. Professional service fee revenues were $3,434 and $3,528 for the three months ended September 30, 2021 and 2020, respectively and $10,181 and $7,155 for the nine months ended September 30, 2021 and 2020, respectively, and were rendered entirely to related parties. Rocket Homes real estate network referral fees —The Company recognizes real estate network referral fee revenue based on arrangements with partner agencies contingent on the closing of a transaction. As this revenue stream is variable, and is contingent on the successful transaction close, the revenue is constrained until the occurrence of the transaction. At this point, the constraint on recognizing revenue is deemed to have been lifted and revenue is recognized for the consideration expected to be received. Real estate network referral fees, net of intercompany eliminations, were $16,068 and $13,633 for the three months ended September 30, 2021 and 2020, respectively and $39,778 and $33,459 for the nine months ended September 30, 2021 and 2020, respectively. Rock Connections and Rocket Auto contact center revenue —The Company recognizes contact center revenue for communication services including client support and sales. Consideration received mainly includes a fixed base fee and/or a variable contingent fee. The fixed base fee is recognized ratably over the period of performance, as the performance obligation is considered to be satisfied equally throughout the service period. The variable contingent fee related to car sales is constrained until the sale of the car is completed. Contact center revenues, net of intercompany eliminations, were $10,847 and $6,246 for the three months ended September 30, 2021 and 2020, respectively and $34,769 and $19,403 for the nine months ended September 30, 2021 and 2020, respectively. Amrock closing fees —The Company recognizes closing fees for non-recurring services provided in connection with the origination of the loan. These fees are recognized at the time of loan closing for purchase transactions or at the end of a client's three-day rescission period for refinance transactions, which represents the point in time the loan closing services performance obligation is satisfied. The consideration received for closing services is a fixed fee per loan that varies by state and loan type. Closing fees were $120,381 and $122,735 for the three months ended September 30, 2021 and 2020, respectively and $395,509 and $302,260 for the nine months ended September 30, 2021 and 2020, respectively. Amrock appraisal revenue, net —The Company recognizes appraisal revenue when the appraisal service is completed. The Company may choose to deliver appraisal services directly to its client or subcontract such services to a third-party licensed and/or certified appraiser. In instances where the Company performs the appraisal, revenue is recognized as the gross amount of consideration received at a fixed price per appraisal. The Company is an agent in instances where a third-party appraiser is involved in the delivery of appraisal services and revenue is recognized net of third-party appraisal expenses. Appraisal revenue, net was $23,222 and $20,655 for the three months ended September 30, 2021 and 2020, respectively and $68,792 and $59,054 for the nine months ended September 30, 2021 and 2020, respectively.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. We maintain our bank accounts with a relatively small number of high-quality financial institutions. Restricted cash as of September 30, 2021 and 2020 consisted of cash on deposit for a repurchase facility, client application deposits, title premiums collected from the insured that are due to the underwriters, principal and interest received in collection accounts for purchased assets, and a $25,000 bond.
Loans subject to repurchase right from Ginnie Mae	Loans subject to repurchase right from Ginnie Mae For certain loans sold to Ginnie Mae, the Company as the servicer has the unilateral right to repurchase any individual loan in a Ginnie Mae securitization pool if that loan meets defined criteria, including being delinquent more than 90 days. Once the Company has the unilateral right to repurchase the delinquent loan, the Company has effectively regained control over the loan and must re-recognize the loan on the Condensed Consolidated Balance Sheets and establish a corresponding finance liability regardless of the Company's intention to repurchase the loan. The asset and corresponding liability are recorded at the unpaid principal balance of the loan, which approximates its fair value.
Accounting Standards Issued but Not Yet Adopted	Accounting StandardsIn March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope to clarify that Topic 848 is applicable to many derivative instruments and hedging relationships.Subject to meeting certain criteria, the new guidance provides optional expedients and exceptions to applying contract modification accounting under existing U.S. GAAP, to address the expected phase out of the London Inter-bank Offered Rate (“LIBOR”) by the end of 2022. This guidance is effective upon issuance and allows application to contract changes as early as January 1, 2020. For all funding and financing facilities, the Company amended the agreements to include alternative base rate language which may reference the Secured Overnight Financing Rate ("SOFR") as a successor benchmark. We have applied the optional expedients available from ASU 2020-04 and accounted for the contract modifications related to reference rate reform prospectively. There has been no impact on the condensed consolidated financial statements from adopting this standard.
Fair Value Measurements	Fair value is the price that would be received if an asset were sold or the price that would be paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. Required disclosures include classification of fair value measurements within a three-level hierarchy (Level 1, Level 2, and Level 3). Classification of a fair value measurement within the hierarchy is dependent on the classification and significance of the inputs used to determine the fair value measurement. Observable inputs are those that are observed, implied from, or corroborated with externally available market information. Unobservable inputs represent the Company’s estimates of market participants’ assumptions. Fair value measurements are classified in the following manner: Level 1 —Valuation is based on quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 —Valuation is based on either observable prices for identical assets or liabilities in inactive markets, observable prices for similar assets or liabilities, or other inputs that are derived directly from, or through correlation to, observable market data at the measurement date. Level 3 —Valuation is based on the Company’s internal models using assumptions at the measurement date that a market participant would use. In determining fair value measurement, the Company uses observable inputs whenever possible. The level of a fair value measurement within the hierarchy is dependent on the lowest level of input that has a significant impact on the measurement as a whole. If quoted market prices are available at the measurement date or are available for similar instruments, such prices are used in the measurements. If observable market data is not available at the measurement date, judgment is required to measure fair value. The following is a description of measurement techniques for items recorded at fair value on a recurring basis. There were no material items recorded at fair value on a nonrecurring basis as of September 30, 2021 or December 31, 2020. Mortgage loans held for sale: Loans held for sale that trade in active secondary markets are valued using Level 2 measurements derived from observable market data, including market prices of securities backed by similar mortgage loans adjusted for certain factors to approximate the fair value of a whole mortgage loan, including the value attributable to mortgage servicing and credit risk. Loans held for sale for which there is little to no observable trading activity of similar instruments are valued using Level 3 measurements based upon dealer price quotes. IRLCs: The fair value of IRLCs is based on current market prices of securities backed by similar mortgage loans (as determined above under mortgage loans held for sale), net of costs to close the loans, subject to the estimated loan funding probability, or “pull-through factor”. Given the significant and unobservable nature of the pull-through factor, IRLCs are classified as Level 3. MSRs: The fair value of MSRs (including MSRs collateral for financing liability and MSRs financing liability) is determined using a valuation model that calculates the present value of estimated net future cash flows. The model includes estimates of prepayment speeds, discount rate, cost to service, float earnings, contractual servicing fee income, and ancillary income among others. These fair value measurements are classified as Level 3. Forward commitments: The Company’s forward commitments are valued based on quoted prices for similar assets in an active market with inputs that are observable and are classified within Level 2 of the valuation hierarchy.
Mortgage Servicing Rights	Mortgage servicing rights are recognized as assets on the Condensed Consolidated Balance Sheets when loans are sold, and the associated servicing rights are retained. The Company maintains one class of MSRs asset and has elected the fair value option. These MSRs are recorded at fair value, which is determined using a valuation model that calculates the present value of estimated future net servicing fee income. The model includes estimates of prepayment speeds, discount rate, cost to service, float earnings, contractual servicing fee income, and ancillary income and late fees, among others.
Income Taxes	The Company’s income tax expense varies from the expense that would be expected based on statutory rates due principally to its organizational structure. Prior to the IPO in 2020, the Company was owned by RHI which has elected S corporation status. When owned by RHI, Rocket Mortgage, Amrock and several other wholly owned corporations had elected to be treated as qualified subchapter S subsidiaries. The shareholders of RHI, as shareholders of an S corporation, are responsible for the federal income tax liabilities. A provision for state income taxes is required for certain jurisdictions that tax S corporations and their qualified Subchapter S subsidiaries and for states where the Company is taxed as a C Corporation. During 2020, in a series of transactions occurring along with the IPO, subsidiaries of the Company were contributed to Holdings by RHI. Several of these subsidiaries, such as Rocket Mortgage, Amrock and other subsidiaries, are no longer qualified Subchapter S corporations and are single member LLC entities owned by Holdings. As single member LLCs of Holdings, all taxable income or loss generated by these subsidiaries will pass through and be included in the income or loss of Holdings. Other contributed subsidiaries of Holdings, such as Amrock Title Insurance Co., LMB Mortgage Services and others, are treated as C Corporations and will separately file and pay taxes apart from Holdings in various jurisdictions including U.S. federal, state, local and Canada. As part of the IPO, Rocket Companies acquired a portion of the units of Holdings, which is treated as a partnership for U.S. federal tax purposes and in most applicable jurisdictions for state and local income tax purposes. The remaining portion of Holdings is owned by RHI and our Chairman ("LLC Members"). As a partnership, Holdings is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Holdings after Rocket Companies acquisition of its portion of Holdings is passed through and included in the taxable income or loss of its members, including Rocket Companies, in accordance with the terms of the operating agreement of Holdings (the "Holdings Operating Agreement"). Rocket Companies is a C Corporation and is subject to U.S. federal, state, and local income taxes with respect to its allocable share of any taxable income of Holdings. Tax Receivable Agreement The Company expects to obtain an increase in its share of the tax basis in the net assets of Holdings when Holdings Units are redeemed from or exchanged by the LLC Members. The Company intends to treat any redemptions and exchanges of Holdings Units as direct purchases of Holdings Units for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that the Company would otherwise pay in the future to various tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The amounts payable under the Tax Receivable Agreement will vary depending upon a number of factors, including the amount, character, and timing of the taxable income of Rocket Companies in the future. Any such changes in these factors or changes in the Company’s determination of the need for a valuation allowance related to the tax benefits acquired under the Tax Receivable Agreement could adjust the Tax receivable agreement liability recognized and recorded within earnings in future periods. Tax Distributions
Derivative Financial Instruments	The Company enters into interest rate lock commitments ("IRLCs"), forward commitments to sell mortgage loans and forward commitments to purchase loans, which are considered derivative financial instruments. These items are accounted for as free-standing derivatives and are included in the Condensed Consolidated Balance Sheets at fair value. The Company treats all of its derivative instruments as economic hedges; therefore, none of its derivative instruments qualify for designation as accounting hedges. Changes in the fair value of the IRLCs and forward commitments to sell mortgage loans are recorded in current period earnings and are included in Gain on sale of loans, net in the Condensed Consolidated Statements of Income and Comprehensive Income. Forward commitments to purchase mortgage loans are recognized in current period earnings and are included in Gain on sale of loans, net in the Condensed Consolidated Statements of Income and Comprehensive Income. The Company enters into IRLCs to fund residential mortgage loans with its potential borrowers. These commitments are binding agreements to lend funds to these potential borrowers at specified interest rates within specified periods of time. The fair value of IRLCs is derived from the fair value of similar mortgage loans or bonds, which is based on observable market data. Changes to the fair value of IRLCs are recognized based on changes in interest rates, changes in the probability that the commitment will be exercised, and the passage of time. The expected net future cash flows related to the associated servicing of the loan are included in the fair value measurement of rate locks. IRLCs and uncommitted mortgage loans held for sale expose the Company to the risk that the value of the mortgage loans held and mortgage loans underlying the commitments may decline due to increases in mortgage interest rates during the life of the commitments. To protect against this risk, the Company uses forward loan sale commitments to economically hedge the risk of potential changes in the value of the loans. These derivative instruments are recorded at fair value. The Company expects that the changes in fair value of these derivative financial instruments will either fully or partially offset the changes in fair value of the IRLCs and uncommitted mortgage loans held for sale. The changes in the fair value of these derivatives are recorded in Gain on sale of loans, net. MSRs assets (including the MSRs value associated with outstanding IRLCs) that the Company plans to sell expose the Company to the risk that the value of the MSRs asset may decline due to decreases in mortgage interest rates prior to the sale of these assets. To protect against this risk, the Company uses forward loan purchase commitments to economically hedge the risk of potential changes in the value of MSRs assets that have been identified for sale. These derivative instruments are recorded at fair value. The Company expects that the changes in fair value of these derivative financial instruments will either fully or partially offset the changes in fair value of the MSRs assets the Company intends to sell. The changes in fair value of these derivatives are recorded in the Change in fair value of MSRs. Forward commitments include To-Be-Announced ("TBA") mortgage-backed securities that have been aggregated at the counterparty level for presentation and disclosure purposes. Counterparty agreements contain a legal right to offset amounts due to and from the same counterparty under legally enforceable master netting agreements to settle with the same counterparty, on a net basis, as well as the right to obtain cash collateral. Forward commitments also include commitments to sell loans to counterparties and to purchase loans from counterparties at determined prices. The Company uses forward commitments in hedging the interest rate risk exposure on its fixed and adjustable rate commitments. Utilization of forward commitments involves some degree of basis risk. Basis risk is defined as the risk that the hedged instrument’s price does not move in parallel with the increase or decrease in the market price of the hedged financial instrument. The Company calculates an expected hedge ratio to mitigate a portion of this risk. The Company’s derivative instruments are not designated as accounting hedging instruments, and therefore, changes in fair value are recorded in current period earnings. Hedging gains and losses are included in Gain on sale of loans, net in the Condensed Consolidated Statements of Income and Comprehensive Income.
Earnings Per Share	The Company applies the two-class method for calculating and presenting earnings per share by separately presenting earnings per share for Class A common stock and Class B common stock. In applying the two-class method, the Company allocates undistributed earnings equally on a per share basis between Class A and Class B common stock. According to the Company’s certificate of incorporation, the holders of the Class A and Class B common stock are entitled to participate in earnings equally on a per-share basis, as if all shares of common stock were of a single class, and in dividends as may be declared by the board of directors. Holders of the Class A and Class B common stock also have equal priority in liquidation. Shares of Class C and Class D common stock do not participate in earnings of Rocket Companies, Inc. As a result, the shares of Class C and Class D common stock are not considered participating securities and are not included in the weighted-average shares outstanding for purposes of earnings per share. Restricted stock units awarded as part of the Company’s compensation program are included in the weighted-average Class A shares outstanding in the calculation of basic earnings per share ("EPS") once the units are fully vested. Basic earnings per share of Class A common stock is computed by dividing Net income attributable to Rocket Companies by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing Net income attributable to Rocket Companies by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. There was no Class B common stock outstanding as of September 30, 2021. The basic and diluted earnings per share period for the three and nine months ended September 30, 2020, represents only the period from August 6, 2020 to September 30, 2020, which represents the period wherein the Company had outstanding Class A common stock. There was no Class B common stock outstanding as of September 30, 2020. See Note 14, Non-controlling Interests for a description of Paired Interests and their potential impact on Class A and Class B share ownership.

Business, Basis of Presentati_3

Business, Basis of Presentation and Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. We maintain our bank accounts with a relatively small number of high-quality financial institutions. Restricted cash as of September 30, 2021 and 2020 consisted of cash on deposit for a repurchase facility, client application deposits, title premiums collected from the insured that are due to the underwriters, principal and interest received in collection accounts for purchased assets, and a $25,000 bond. September 30, 2021 2020 Cash and cash equivalents $ 2,233,667 $ 3,485,137 Restricted cash 145,978 85,351 Total cash, cash equivalents, and restricted cash in the statement of cash flows $ 2,379,645 $ 3,570,488
Schedule of Cash, Cash Equivalents and Restricted Cash	The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. We maintain our bank accounts with a relatively small number of high-quality financial institutions. Restricted cash as of September 30, 2021 and 2020 consisted of cash on deposit for a repurchase facility, client application deposits, title premiums collected from the insured that are due to the underwriters, principal and interest received in collection accounts for purchased assets, and a $25,000 bond. September 30, 2021 2020 Cash and cash equivalents $ 2,233,667 $ 3,485,137 Restricted cash 145,978 85,351 Total cash, cash equivalents, and restricted cash in the statement of cash flows $ 2,379,645 $ 3,570,488

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Statement Items Measured at Estimated Fair Value on a Recurring Basis	The table below shows a summary of financial statement items that are measured at estimated fair value on a recurring basis, including assets measured under the fair value option. There were no material transfers of assets or liabilities recorded at fair value on a recurring basis between Levels 1, 2 or 3 during the nine months ended September 30, 2021 or the year ended December 31, 2020. Level 1 Level 2 Level 3 Total Balance at September 30, 2021 Assets: Mortgage loans held for sale $ — $ 20,587,535 $ 2,664,401 $ 23,251,936 IRLCs — — 794,258 794,258 MSRs — — 4,701,045 4,701,045 Forward commitments — 253,200 — 253,200 Total assets $ — $ 20,840,735 $ 8,159,704 $ 29,000,439 Liabilities: Forward commitments $ — $ 35,795 $ — $ 35,795 Total liabilities $ — $ 35,795 $ — $ 35,795 Balance at December 31, 2020 Assets: Mortgage loans held for sale $ — $ 22,285,440 $ 579,666 $ 22,865,106 IRLCs — — 1,897,194 1,897,194 MSRs — — 2,862,685 2,862,685 MSRs collateral for financing liability (1) — — 205,033 205,033 Forward commitments — 20,584 — 20,584 Total assets $ — $ 22,306,024 $ 5,544,578 $ 27,850,602 Liabilities: Forward commitments $ — $ 506,071 $ — $ 506,071 MSRs financing liability (1) — — 187,794 187,794 Total liabilities $ — $ 506,071 $ 187,794 $ 693,865 (1) Refer to Note 3, Mortgage Servicing Rights for further information regarding both the MSRs collateral for financing liability and MSRs financing liability.
Schedule of Quantitative Information About Fair Value Measurements of Level 3 Financial Instruments	The following tables present the quantitative information about recurring Level 3 fair value financial instruments and the fair value measurements as of: September 30, 2021 December 31, 2020 Unobservable Input Range Weighted Average Range Weighted Average Mortgage loans held for sale Dealer pricing 92% - 107% 100 % 89% - 105% 99 % IRLCs Loan funding probability 0% - 100% 78 % 0% - 100% 74 % MSRs, MSRs collateral for financing liability, and MSRs financing liability Discount rate 9.0% - 12.0% 9.5 % 9.5% - 12.0% 9.9 % Conditional prepayment rate 6.9% - 42.0% 9.8 % 6.6% - 52.1% 15.8 %
Schedule of Reconciliation of Level 3 Assets	The table below presents a reconciliation of Level 3 assets measured at fair value on a recurring basis for the three and nine months ended September 30, 2021 and 2020. Mortgage servicing rights (including MSRs collateral for financing liability and MSRs financing liability) are also classified as a Level 3 asset measured at fair value on a recurring basis and its reconciliation is found in Note 3, Mortgage Servicing Rights. Loans Held for Sale IRLCs Balance at June 30, 2021 $ 2,579,313 $ 907,978 Transfers in (1) 461,014 — Transfers out/principal reductions (1) (378,302) — Net transfers and revaluation losses — (113,720) Total gains included in net income 2,376 — Balance at September 30, 2021 $ 2,664,401 $ 794,258 Balance at June 30, 2020 $ 416,100 $ 2,393,764 Transfers in (1) 122,763 — Transfers out/principal reductions (1) (164,211) — Net transfers and revaluation gains — 196,555 Total gains included in net income 1,380 — Balance at September 30, 2020 $ 376,032 $ 2,590,319 Balance at December 31, 2020 $ 579,666 $ 1,897,194 Transfers in (1) 3,244,577 — Transfers out/principal reductions (1) (1,159,712) — Net transfers and revaluation losses — (1,102,936) Total losses included in net income (130) — Balance at September 30, 2021 $ 2,664,401 $ 794,258 Balance at December 31, 2019 $ 308,793 $ 508,135 Transfers in (1) 906,527 — Transfers out/principal reductions (1) (825,197) — Net transfers and revaluation gains — 2,082,184 Total losses included in net income (14,091) — Balance at September 30, 2020 $ 376,032 $ 2,590,319 (1) Transfers in represent loans repurchased from investors or loans originated for which an active market currently does not exist. Transfers out primarily represent loans sold to third parties and loans paid in full.
Schedule of Fair Value Option for Mortgage Loans Held For Sale	The following is the estimated fair value and unpaid principal balance (“UPB”) of mortgage loans held for sale that have contractual principal amounts and for which the Company has elected the fair value option. The fair value option was elected for mortgage loans held for sale as the Company believes fair value best reflects their expected future economic performance: Fair Value Unpaid Principal Balance Difference (1) Balance at September 30, 2021 $ 23,251,936 $ 22,825,105 $ 426,831 Balance at December 31, 2020 $ 22,865,106 $ 21,834,817 $ 1,030,289 (1) Represents the amount of gains included in Gain on sale of loans, net due to changes in fair value of items accounted for using the fair value option.
Schedule of Liabilities not Recorded at Fair Value on a Recurring or Nonrecurring Basis	The following table presents the carrying amounts and estimated fair value of financial liabilities that are not recorded at fair value on a recurring or nonrecurring basis. This table excludes cash and cash equivalents, restricted cash, warehouse borrowings, and line of credit borrowing facilities as these financial instruments are highly liquid or short-term in nature and as a result, their carrying amounts approximate fair value: September 30, 2021 December 31, 2020 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Senior Notes, due 1/15/2028 $ 996,612 $ 1,089,527 $ 994,986 $ 1,079,629 Senior Notes, due 3/1/2029 $ 742,699 $ 761,370 $ 741,946 $ 766,365 Senior Notes, due 3/1/2031 $ 1,237,128 $ 1,264,263 $ 1,236,114 $ 1,298,175

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2021
Transfers and Servicing [Abstract]
Summary of Changes to MSR Assets	The following table summarizes changes to the MSRs assets for the three and nine months ended: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Fair value, beginning of period $ 4,644,172 $ 2,289,209 $ 2,862,685 $ 2,874,972 MSRs originated 907,242 836,557 2,937,517 2,041,899 MSRs sales (572,218) (140,359) (671,278) (326,652) MSRs purchases 38,281 — 38,281 — Changes in fair value: Due to changes in valuation model inputs or assumptions (1) (16,123) (113,547) 426,111 (1,191,967) Due to collection/realization of cash flows (300,309) (265,711) (892,271) (792,103) Total changes in fair value (316,432) (379,258) (466,160) (1,984,070) Fair value, end of period $ 4,701,045 $ 2,606,149 $ 4,701,045 $ 2,606,149 (1) Reflects changes in assumptions including discount rates and prepayment speed assumptions, mostly due to changes in market interest rates. Does not include the change in fair value of derivatives that economically hedge MSRs identified for sale or the effects of contractual prepayment protection resulting from sales of MSRs.
Schedule of Assumptions Used to Determine Fair Value of MSRs	The following is a summary of the weighted average discount rate and prepayment speed assumptions used to determine the fair value of MSRs as well as the expected life of the loans in the servicing portfolio: September 30, 2021 December 31, 2020 Discount rate 9.5 % 9.9 % Prepayment speeds 9.8 % 15.8 % Life (in years) 6.80 5.05
Summary of Discount Rate and Prepayment Speeds at Two Different Data Points	The following table stresses the discount rate and prepayment speeds at two different data points: Discount Rate Prepayment Speeds 100 BPS Adverse Change 200 BPS Adverse Change 10% Adverse Change 20% Adverse Change September 30, 2021 Mortgage servicing rights $ (201,591) $ (375,589) $ (187,901) $ (358,121) December 31, 2020 Mortgage servicing rights $ (115,130) $ (212,119) $ (147,420) $ (279,691)

Mortgage Loans Held for Sale (T

Mortgage Loans Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Reconciliation of Changes in Mortgage Loans Held for Sale	A reconciliation of the changes in mortgage loans held for sale to the amounts presented on the Condensed Consolidated Statements of Cash Flows is below: Nine Months Ended September 30, 2021 2020 Balance at the beginning of period $ 22,865,106 $ 13,275,735 Disbursements of mortgage loans held for sale 275,516,411 209,540,623 Proceeds from sales of mortgage loans held for sale (1) (281,117,441) (208,122,820) Gain on sale of mortgage loans excluding fair value of other financial instruments, net (2) 5,987,860 6,983,862 Balance at the end of period $ 23,251,936 $ 21,677,400 (1) The proceeds from sales of loans held for sale on the Condensed Consolidated Statements of Cash Flows includes amounts related to the sale of consumer loans. (2) The Gain on sale of loans excluding fair value of MSRs, net on the Condensed Consolidated Statements of Cash Flows includes amounts related to the sale of consumer loans, interest rate lock commitments, forward commitments, and provisions for investor reserves.

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Funding Facilities	Funding Facilities Facility Type Collateral Maturity Line Amount Committed Line Amount Outstanding Balance September 30, 2021 Outstanding Balance December 31, 2020 MRA funding: 1) Master Repurchase Agreement (1)(7) Mortgage loans held for sale (6) 10/22/2021 $ 2,000,000 $ 100,000 $ 1,499,791 $ 999,752 2) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 12/2/2021 1,500,000 500,000 1,456,449 1,320,484 3) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 4/21/2023 2,750,000 1,000,000 1,331,022 2,407,156 4) Master Repurchase Agreement (2)(7) Mortgage loans held for sale (6) 7/26/2022 1,700,000 1,400,000 1,647,400 1,953,949 5) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 4/20/2023 3,000,000 500,000 2,413,175 2,004,707 6) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 9/22/2023 2,000,000 500,000 496,864 1,780,902 7) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 9/15/2023 1,200,000 500,000 477,108 1,343,130 8) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 6/10/2022 500,000 — 348,655 219,786 9) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 9/22/2023 1,500,000 500,000 506,022 983,126 10) Master Repurchase Agreement (7) Mortgage loans held for sale (6) 8/16/2023 750,000 100,000 690,565 480,544 11) Master Repurchase Agreement (3)(7) Mortgage loans held for sale (6) 12/17/2021 1,000,000 500,000 501,660 765,432 $ 17,900,000 $ 5,600,000 $ 11,368,711 $ 14,258,968 Early Funding: 12) Early Funding Facility (4)(7) Mortgage loans held for sale (6) (4) $ 4,000,000 $ — $ 3,891,608 $ 2,514,193 13) Early Funding Facility (5)(7) Mortgage loans held for sale (6) (5) 3,000,000 — 1,362,712 969,412 7,000,000 — 5,254,320 3,483,605 Total $ 24,900,000 $ 5,600,000 $ 16,623,031 $ 17,742,573 (1) Subsequent to September 30, 2021, this facility was renewed and the maturity date was extended to October 20, 2023. (2) This facility has a 12-month initial term, which can be extended for 3-months at each subsequent 3-month anniversary from the initial start date. (3) Subsequent to September 30, 2021, this facility was amended to decrease the committed amount to $250,000. (4) This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party upon written notice. (5) This facility has an overall line size of $3,000,000, which is reviewed every 90 days. This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party upon written notice. (6) The Company has multiple borrowing facilities in the form of asset sales under agreements to repurchase. These borrowing facilities are secured by mortgage loans held for sale at fair value as the first priority security interest. (7) The interest rates charged by lenders on the funding facilities included the applicable base rate plus a spread ranging from 1.00% to 2.25% for the nine months ended September 30, 2021, and the applicable base rate plus a spread ranging from 0.40% to 2.30% for the year ended December 31, 2020.
Schedule of Other Financing Facilities	Other Financing Facilities Facility Type Collateral Maturity Line Amount Committed Line Amount Outstanding Balance September 30, 2021 Outstanding Balance December 31, 2020 Line of Credit Financing Facilities 1) Unsecured line of credit (1) — 7/27/2025 $ 2,000,000 $ — $ — $ — 2) Unsecured line of credit (1) — 7/31/2025 100,000 — — — 3) Revolving credit facility (4) — 8/10/2024 1,000,000 1,000,000 — 300,000 4) MSRs line of credit (2)(4) MSRs 10/22/2021 200,000 — — — 5) MSRs line of credit (3)(4) MSRs (3) 200,000 200,000 75,000 75,000 $ 3,500,000 $ 1,200,000 $ 75,000 $ 375,000 Early Buy out Financing Facility 6) Early buy out facility (4) Loans/ Advances 3/13/2023 $ 2,600,000 $ — $ 2,219,319 $ 330,266 (1) Refer to Note 6, Transactions with Related Parties for additional details regarding this unsecured line of credit. (2) Subsequent to September 30, 2021 this facility was renewed and the maturity date was extended to October 20, 2023. (3) This MSRs facility can be drawn upon for corporate purposes and is collateralized by GSE MSRs within our servicing portfolio. This facility has a 5-year total commitment comprised of a 3-year revolving period that expires on April 30, 2022 followed by a 2-year amortization period that expires on April 30, 2024.
Schedule of Unsecured Senior Notes	Unsecured Senior Notes Facility Type Maturity Interest Rate Outstanding Balance September 30, 2021 Outstanding Balance December 31, 2020 Unsecured Senior Notes (1) 1/15/2028 5.250 % $ 1,010,000 $ 1,010,000 Unsecured Senior Notes (2) 3/1/2029 3.625 % 750,000 750,000 Unsecured Senior Notes (3) 3/1/2031 3.875 % 1,250,000 1,250,000 Total Senior Notes $ 3,010,000 $ 3,010,000 Weighted Average Interest Rate 4.27 % 4.27 % (1) The 2028 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs and discounts are presented net against the Senior Notes reducing the $1,010,000 carrying amount on the Condensed Consolidated Balance Sheets by $7,308 and $6,080 as of September 30, 2021, respectively, and $8,197 and $6,817, as of December 31, 2020, respectively. Subsequent to September 30, 2021, $948,015 of the outstanding principal of the 2028 Senior Notes was redeemed at a price above par plus accrued and unpaid interest for a total cash payment of $1,032,364. (2) The 2029 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs and discounts are presented net against the Senior Notes reducing the $750,000 carrying amount on the Condensed Consolidated Balance Sheets by $7,301 and $8,053 as of September 30, 2021 and December 31, 2020, respectively.

Transactions with Related Par_2

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Schedule of Receivables from and Payables to Related Parties	The amounts receivable from and payable to Related Parties consisted of the following as of: September 30, 2021 December 31, 2020 Principal Interest Rate Principal Interest Rate Included in Notes receivable and due from affiliates on the Condensed Consolidated Balance Sheets Affiliated receivables and other notes $ 9,671 — % $ 22,172 — % Notes receivable and due from affiliates $ 9,671 $ 22,172 Included in Notes payable and due to affiliates on the Condensed Consolidated Balance Sheets RHI/ATI Debenture $ 21,500 8.00 % $ 21,500 8.00 % Affiliated payables 8,392 — % 52,396 — % Notes payable and due to affiliates $ 29,892 $ 73,896

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: September 30, 2021 December 31, 2020 Mortgage production related receivables $ 353,722 $ 307,282 Disbursement funds advanced 209,014 80,877 Prepaid expenses 129,895 98,529 Non-production-related receivables 101,617 76,595 Goodwill and other intangible assets 44,151 47,230 Ginnie Mae buyouts 25,490 40,681 Other real estate owned 564 1,131 Margin call receivable from counterparty — 247,604 Other 77,390 41,548 Total other assets $ 941,843 $ 941,477

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Net Hedging Losses and Gains	Net hedging gains and losses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Hedging gains (losses) (1) $ 652,337 $ (776,086) $ 2,020,328 $ (2,283,874) (1) Includes the change in fair value related to derivatives economically hedging MSRs identified for sale.
Schedule of Notional and Fair Values of Derivative Financial Instruments	The notional and fair values of derivative financial instruments not designated as hedging instruments were as follows: Notional Value Derivative Asset Derivative Liability Balance at September 30, 2021: IRLCs, net of loan funding probability (1) $ 30,537,502 $ 794,258 $ — Forward commitments (2) $ 45,033,900 $ 253,200 $ 35,795 Balance at December 31, 2020: IRLCs, net of loan funding probability (1) $ 40,560,544 $ 1,897,194 $ — Forward commitments (2) $ 59,041,900 $ 20,584 $ 506,071 (1) IRLCs are also discussed in Note 10, Commitments, Contingencies, and Guarantees. (2) Includes the fair value and net notional value related to derivatives economically hedging MSRs identified for sale.
Schedule of Gross Amounts of Recognized Assets Subject to Master Netting Agreements	The table below presents the gross amounts of recognized assets and liabilities subject to master netting agreements. The Company had zero and $247,604 of cash pledged to counterparties related to these forward commitments at September 30, 2021 and December 31, 2020, respectively, classified in Other assets in the Condensed Consolidated Balance Sheets. As of September 30, 2021 and December 31, 2020, the Company had $266,603 and zero, respectively, of cash pledged from counterparties related to these forward commitments. Margins received by the Company are classified in Other liabilities in the Condensed Consolidated Balance Sheets. Gross Amount of Recognized Assets or Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts Presented in the Condensed Consolidated Balance Sheets Offsetting of Derivative Assets Balance at September 30, 2021: Forward commitments $ 404,896 $ (151,696) $ 253,200 Balance at December 31, 2020: Forward commitments $ 35,746 $ (15,162) $ 20,584 Offsetting of Derivative Liabilities Balance at September 30, 2021: Forward commitments $ (64,225) $ 28,430 $ (35,795) Balance at December 31, 2020: Forward commitments $ (715,671) $ 209,600 $ (506,071)
Schedule of Gross Amounts of Recognized Liabilities Subject to Master Netting Agreements	The table below presents the gross amounts of recognized assets and liabilities subject to master netting agreements. The Company had zero and $247,604 of cash pledged to counterparties related to these forward commitments at September 30, 2021 and December 31, 2020, respectively, classified in Other assets in the Condensed Consolidated Balance Sheets. As of September 30, 2021 and December 31, 2020, the Company had $266,603 and zero, respectively, of cash pledged from counterparties related to these forward commitments. Margins received by the Company are classified in Other liabilities in the Condensed Consolidated Balance Sheets. Gross Amount of Recognized Assets or Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts Presented in the Condensed Consolidated Balance Sheets Offsetting of Derivative Assets Balance at September 30, 2021: Forward commitments $ 404,896 $ (151,696) $ 253,200 Balance at December 31, 2020: Forward commitments $ 35,746 $ (15,162) $ 20,584 Offsetting of Derivative Liabilities Balance at September 30, 2021: Forward commitments $ (64,225) $ 28,430 $ (35,795) Balance at December 31, 2020: Forward commitments $ (715,671) $ 209,600 $ (506,071)

Commitments, Contingencies, a_2

Commitments, Contingencies, and Guarantees (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of IRLC Unpaid Principal Balance	The UPB of IRLCs was as follows: September 30, 2021 December 31, 2020 Fixed Rate Variable Rate Fixed Rate Variable Rate IRLCs $ 37,296,375 $ 1,919,846 $ 53,736,717 $ 1,065,936
Schedule of Investor Reserves Activity	The following presents the activity in the investor reserves: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 74,202 $ 63,012 $ 87,191 $ 54,387 Provision for (benefit from) investor reserves 6,327 (3,665) (7,642) 5,698 Premium recapture and indemnification losses paid (208) (2,329) 772 (3,067) Balance at end of period $ 80,321 $ 57,018 $ 80,321 $ 57,018

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Key Operating Data for Business Segments	Key operating data for our business segments for the three and nine months ended: Three Months Ended September 30, 2021 Direct to Partner Segments All Other Total Revenues Gain on sale $ 2,241,633 $ 402,649 $ 2,644,282 $ 9,931 $ 2,654,213 Interest income 77,112 51,815 128,927 1,036 129,963 Interest expense on funding facilities (43,528) (29,248) (72,776) (2) (72,778) Servicing fee income 333,653 — 333,653 695 334,348 Changes in fair value of MSRs (341,361) — (341,361) — (341,361) Other income 234,381 31,301 265,682 144,663 410,345 Total U.S. GAAP Revenue, net 2,501,890 456,517 2,958,407 156,323 3,114,730 Plus: Decrease in MSRs due to valuation assumptions (net of hedges) 47,514 — 47,514 — 47,514 Adjusted revenue 2,549,404 456,517 3,005,921 156,323 3,162,244 Directly attributable expenses 927,897 176,246 1,104,143 67,892 1,172,035 Contribution margin $ 1,621,507 $ 280,271 $ 1,901,778 $ 88,431 $ 1,990,209 Nine Months Ended September 30, 2021 Direct to Consumer Partner Network Segments Total All Other Total Revenues Gain on sale $ 7,155,872 $ 1,374,729 $ 8,530,601 $ 17,543 $ 8,548,144 Interest income 188,269 121,097 309,366 2,487 311,853 Interest expense on funding facilities (124,942) (80,010) (204,952) (48) (205,000) Servicing fee income 967,993 — 967,993 2,065 970,058 Changes in fair value of MSRs (556,201) — (556,201) — (556,201) Other income 769,152 82,306 851,458 401,387 1,252,845 Total U.S. GAAP Revenue, net 8,400,143 1,498,122 9,898,265 423,434 10,321,699 Less: Increase in MSRs due to valuation assumptions (net of hedges) (329,608) — (329,608) — (329,608) Adjusted revenue 8,070,535 1,498,122 9,568,657 423,434 9,992,091 Directly attributable expenses 2,808,340 532,087 3,340,427 196,805 3,537,232 Contribution margin $ 5,262,195 $ 966,035 $ 6,228,230 $ 226,629 $ 6,454,859 Three Months Ended September 30, 2020 Direct to Consumer Partner Network Segments Total All Other Total Revenues Gain on sale $ 3,128,695 $ 1,151,071 $ 4,279,766 $ 676 $ 4,280,442 Interest income 53,764 25,691 79,455 435 79,890 Interest expense on funding facilities (46,936) (22,428) (69,364) — (69,364) Servicing fee income 271,254 — 271,254 904 272,158 Changes in fair value of MSRs (392,688) — (392,688) — (392,688) Other income 237,855 47,858 285,713 160,044 445,757 Total U.S. GAAP Revenue, net 3,251,944 1,202,192 4,454,136 162,059 4,616,195 Plus: Decrease in MSRs due to valuation assumptions (net of hedges) 126,977 — 126,977 — 126,977 Adjusted revenue 3,378,921 1,202,192 4,581,113 162,059 4,743,172 Directly attributable expenses 930,227 141,214 1,071,441 113,464 1,184,905 Contribution margin $ 2,448,694 $ 1,060,978 $ 3,509,672 $ 48,595 $ 3,558,267 Nine Months Ended September 30, 2020 Direct to Consumer Partner Network Segments Total All Other Total Revenues Gain on sale $ 8,759,914 $ 2,089,285 $ 10,849,199 $ 6,936 $ 10,856,135 Interest income 152,087 77,638 229,725 2,246 231,971 Interest expense on funding facilities (107,718) (54,451) (162,169) (411) (162,580) Servicing fee income 776,117 — 776,117 2,976 779,093 Changes in fair value of MSRs (1,985,545) — (1,985,545) — (1,985,545) Other income 589,415 107,328 696,743 553,738 1,250,481 Total U.S. GAAP Revenue, net 8,184,270 2,219,800 10,404,070 565,485 10,969,555 Plus: Decrease in MSRs due to valuation assumptions (net of hedges) 1,193,442 — 1,193,442 — 1,193,442 Adjusted revenue 9,377,712 2,219,800 11,597,512 565,485 12,162,997 Directly attributable expenses 2,611,044 372,337 2,983,381 282,379 3,265,760 Contribution margin $ 6,766,668 $ 1,847,463 $ 8,614,131 $ 283,106 $ 8,897,237
Schedule of Reconciliation of Segment Contribution Margin to Combined U.S. GAAP Income Before Taxes	The following table represents a reconciliation of segment contribution margin to consolidated U.S. GAAP income before taxes for the three and nine months ended: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Contribution margin, excluding change in MSRs due to valuation assumptions $ 1,990,209 $ 3,558,267 $ 6,454,859 $ 8,897,237 (Decrease) increase in MSRs due to valuation assumptions (net of hedges) (47,514) (126,977) 329,608 (1,193,442) Contribution margin, including change in MSRs due to valuation assumptions 1,942,695 3,431,290 6,784,467 7,703,795 Less expenses not allocated to segments : Salaries, commissions and team member benefits 237,410 198,482 694,421 602,832 General and administrative expenses 224,597 122,137 595,283 310,711 Depreciation and amortization 19,577 15,329 55,470 47,633 Interest and amortization expense on non-funding debt 34,163 38,016 104,772 104,291 Other expenses 1,259 260 4,965 (4,547) Income before income taxes $ 1,425,689 $ 3,057,066 $ 5,329,556 $ 6,642,875

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	9 Months Ended
	Sep. 30, 2021
Noncontrolling Interest [Abstract]
Schedule of Non-controlling Interests	The following table summarizes the ownership of Holdings Units in Holdings as of September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Holdings Units Ownership Percentage Holdings Units Ownership Percentage Rocket Companies, Inc.'s ownership of Holdings Units 137,367,428 6.91 % 115,372,565 5.81 % Holdings Units held by our Chairman 1,101,822 0.06 % 1,101,822 0.06 % Holdings Units held by RHI 1,847,777,661 93.03 % 1,867,977,661 94.13 % Balance at end of period 1,986,246,911 100.00 % 1,984,452,048 100.00 %

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	A summary of share-based compensation expense recognized during the three and nine months ended September 30, 2021 and September 30, 2020 related to RKT-denominated awards is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 RKT restricted stock units $ 26,615 $ 18,590 $ 81,179 $ 18,590 RKT stock options 10,257 6,620 30,155 6,620 RKT Team Member Stock Purchase Plan 2,354 — 7,638 — RKT denominated share-based compensation expense $ 39,226 $ 25,210 $ 118,972 $ 25,210 A summary of share-based compensation expense recognized during the three and nine months ended September 30, 2021 and September 30, 2020 related to RHI-denominated awards is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 RHI restricted stock units $ 1,372 $ 7,992 $ 4,117 $ 68,177 RHI stock options — — — 32 RHI cash settled awards — — — 26,421 RHI denominated share-based compensation expense $ 1,372 $ 7,992 $ 4,117 $ 94,630

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Earnings per Share	The following table sets for the calculation of the basic and diluted earnings per share for the period: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net income $ 1,392,859 $ 2,995,383 $ 5,206,847 $ 6,558,512 Net income attributable to non-controlling interest (1,317,522) (2,937,480) (4,946,688) (6,500,609) Net income attributable to Rocket Companies 75,337 57,903 260,159 57,903 Add: Reallocation of Net income attributable to vested, undelivered stock awards 39 — 141 — Net income attributable to common shareholders $ 75,376 $ 57,903 $ 260,300 $ 57,903 Numerator: Net income attributable to Class A common shareholders - basic $ 75,376 $ 57,903 $ 260,300 $ 57,903 Add: Reallocation of net income attributable to dilutive impact of pro-forma conversion of Class D shares to Class A shares (1) 991,852 — — — Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards (2) 2,294 — 10,254 — Net income attributable to Class A common shareholders - diluted $ 1,069,522 $ 57,903 $ 270,554 $ 57,903 Denominator: Weighted average shares of Class A common stock outstanding - basic 137,664,471 106,265,422 129,902,253 106,265,422 Add: Dilutive impact of conversion of Class D shares to Class A shares 1,848,879,483 — — — Add: Dilutive impact of share-based compensation awards (3) 4,284,397 — 5,490,417 — Weighted average shares of Class A common stock outstanding - diluted 1,990,828,351 106,265,422 135,392,670 106,265,422 Earnings per share of Class A common stock outstanding - basic $ 0.55 $ 0.54 $ 2.00 $ 0.54 Earnings per share of Class A common stock outstanding - diluted $ 0.54 $ 0.54 $ 2.00 $ 0.54 (1) Net income calculated using the estimated annual effective tax rate of Rocket Companies, Inc. (2) Reallocation of net income attributable to dilutive impact of share-based compensation awards for the three months ended September 30, 2021 and 2020 comprised of $2,223 and zero related to restricted stock units, none related to stock options and $71 and zero related to TMSPP. Reallocation of net income attributable to dilutive impact of share-based compensation awards for the nine months ended September 30, 2021 and 2020 comprised of $10,027 and zero related to restricted stock units, none related to stock options and $227 and zero related to TMSPP.

Business, Basis of Presentati_4

Business, Basis of Presentation and Accounting Policies - Narrative (Details) $ / shares in Units, $ in Thousands

Mar. 23, 2021$ / shares

Feb. 25, 2021USD ($)$ / shares

Aug. 14, 2020USD ($)$ / sharesshares

Nov. 09, 2021USD ($)

Sep. 09, 2020USD ($)shares

Sep. 30, 2021USD ($)$ / shares

Mar. 31, 2021shares

Sep. 30, 2020USD ($)

Sep. 30, 2021USD ($)segment$ / shares

Sep. 30, 2020USD ($)

Dec. 31, 2020USD ($)$ / shares

Oct. 31, 2021USD ($)

Basis of Presentation [Line Items]

Number of segments | segment

2

Holdings Units acquired (in units) | shares

115,000,000

115,000,000

Net income

$ 75,337

$ 57,903

$ 260,159

$ 57,903

IPO

Basis of Presentation [Line Items]

Net proceeds from IPO

$ 2,023,000

Class A common stock

Basis of Presentation [Line Items]

Common stock, par value (in dollars per share) | $ / shares

$ 0.00001

$ 0.00001

$ 0.00001

Common stock dividend declared (in dollars per share) | $ / shares

$ 1.11

Common stock dividend paid (in dollars per share) | $ / shares

$ 1.11

Class A common stock | IPO

Basis of Presentation [Line Items]

Number of shares issued (in shares) | shares

115,000,000

Class A common stock | Underwriters option

Basis of Presentation [Line Items]

Number of shares issued (in shares) | shares

15,000,000

ATI

Basis of Presentation [Line Items]

Total aggregate consideration

$ 14,400

Holding units issued in acquisition (in shares) | shares

800,000

Value of holding units issued in acquisition (in dollars per share) | $ / shares

$ 18

ATI

Basis of Presentation [Line Items]

Net income

$ 4,700

Holdings

Basis of Presentation [Line Items]

Cash distribution

$ 2,200,000

Unsecured Senior Notes

Basis of Presentation [Line Items]

Outstanding principal amount

$ 3,010,000

$ 3,010,000

3,010,000

2028 Senior Notes | Unsecured Senior Notes

Basis of Presentation [Line Items]

Interest rate (percent)

5.25%

5.25%

Outstanding principal amount

$ 1,010,000

$ 1,010,000

$ 1,010,000

Subsequent event

Basis of Presentation [Line Items]

Unpaid principal balance, loans for which MSRs purchased subsequent to period end

$ 9,000,000

Fair market value, loans for which MSRs purchased subsequent to period end

82,100

Subsequent event | 2026 Senior Notes | Unsecured Senior Notes

Basis of Presentation [Line Items]

Aggregate principal amount

$ 1,150

$ 1,150,000

Interest rate (percent)

2.875%

2.875%

Subsequent event | 2033 Senior Notes | Unsecured Senior Notes

Basis of Presentation [Line Items]

Aggregate principal amount

$ 850

$ 850,000

Interest rate (percent)

4.00%

4.00%

Subsequent event | 2028 Senior Notes | Unsecured Senior Notes

Basis of Presentation [Line Items]

Outstanding principal redeemed

$ 948,015

Business, Basis of Presentati_5

Business, Basis of Presentation and Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Core Digital Media lead generation revenue
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 7,784	$ 5,755	$ 22,549	$ 18,819
Professional services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	3,434	3,528	10,181	7,155
Real estate network referral fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	16,068	13,633	39,778	33,459
Contact center
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	10,847	6,246	34,769	19,403
Closing fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	120,381	122,735	395,509	302,260
Appraisal revenue
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 23,222	$ 20,655	$ 68,792	$ 59,054

Business, Basis of Presentati_6

Business, Basis of Presentation and Accounting Policies - Cash, Cash Equivalents, and Restricted Cash Reconciliation (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 2,233,667	$ 1,971,085	$ 3,485,137
Restricted cash	145,978	83,018	85,351
Total cash, cash equivalents, and restricted cash in the statement of cash flows	2,379,645	$ 2,054,103	3,570,488	$ 1,455,725
Bond
Restricted Cash and Cash Equivalents Items [Line Items]
Bond in restricted cash	$ 25,000		$ 25,000

Fair Value Measurements - Measu

Fair Value Measurements - Measured at Estimated Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Assets:
Mortgage loans held for sale	$ 23,251,936		$ 22,865,106
MSRs	4,701,045	$ 4,644,172	2,862,685	$ 2,606,149	$ 2,289,209	$ 2,874,972
MSRs collateral for financing liability	0		205,033
Liabilities:
Derivative liability	35,795		506,071
IRLCs
Assets:
Derivative asset	794,258		1,897,194
Forward commitments
Assets:
Derivative asset	253,200		20,584
Recurring
Assets:
Mortgage loans held for sale	23,251,936		22,865,106
MSRs	4,701,045		2,862,685
MSRs collateral for financing liability			205,033
Total assets	29,000,439		27,850,602
Liabilities:
MSRs financing liability			187,794
Total liabilities	35,795		693,865
Recurring | IRLCs
Assets:
Derivative asset	794,258		1,897,194
Recurring | Forward commitments
Assets:
Derivative asset	253,200		20,584
Liabilities:
Derivative liability	35,795		506,071
Recurring | Level 1
Assets:
Mortgage loans held for sale	0		0
MSRs	0		0
MSRs collateral for financing liability			0
Total assets	0		0
Liabilities:
MSRs financing liability			0
Total liabilities	0		0
Recurring | Level 1 | IRLCs
Assets:
Derivative asset	0		0
Recurring | Level 1 | Forward commitments
Assets:
Derivative asset	0		0
Liabilities:
Derivative liability	0		0
Recurring | Level 2
Assets:
Mortgage loans held for sale	20,587,535		22,285,440
MSRs	0		0
MSRs collateral for financing liability			0
Total assets	20,840,735		22,306,024
Liabilities:
MSRs financing liability			0
Total liabilities	35,795		506,071
Recurring | Level 2 | IRLCs
Assets:
Derivative asset	0		0
Recurring | Level 2 | Forward commitments
Assets:
Derivative asset	253,200		20,584
Liabilities:
Derivative liability	35,795		506,071
Recurring | Level 3
Assets:
Mortgage loans held for sale	2,664,401		579,666
MSRs	4,701,045		2,862,685
MSRs collateral for financing liability			205,033
Total assets	8,159,704		5,544,578
Liabilities:
MSRs financing liability			187,794
Total liabilities	0		187,794
Recurring | Level 3 | IRLCs
Assets:
Derivative asset	794,258		1,897,194
Recurring | Level 3 | Forward commitments
Assets:
Derivative asset	0		0
Liabilities:
Derivative liability	$ 0		$ 0

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information for Level 3 Measurements (Details) - Level 3	Sep. 30, 2021	Dec. 31, 2020
Dealer pricing | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans held for sale	0.92	0.89
Dealer pricing | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans held for sale	1.07	1.05
Dealer pricing | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans held for sale	1	0.99
Loan funding probability | IRLCs | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
IRLCs	0	0
Loan funding probability | IRLCs | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
IRLCs	1	1
Loan funding probability | IRLCs | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
IRLCs	0.78	0.74
Discount rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs, MSRs collateral for financing liability, and MSRs financing liability	0.090	0.095
Discount rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs, MSRs collateral for financing liability, and MSRs financing liability	0.120	0.120
Discount rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs, MSRs collateral for financing liability, and MSRs financing liability	0.095	0.099
Conditional prepayment rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs, MSRs collateral for financing liability, and MSRs financing liability	0.069	0.066
Conditional prepayment rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs, MSRs collateral for financing liability, and MSRs financing liability	0.420	0.521
Conditional prepayment rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs, MSRs collateral for financing liability, and MSRs financing liability	0.098	0.158

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Level 3 Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Loans Held for Sale
Reconciliation of Level 3 Assets:
Beginning balance	$ 2,579,313	$ 416,100	$ 579,666	$ 308,793
Transfers in	461,014	122,763	3,244,577	906,527
Transfers out/principal reductions	(378,302)	(164,211)	(1,159,712)	(825,197)
Net transfers and revaluation gains (losses)	0	0	0	0
Total gains (losses) included in net income	2,376	1,380	(130)	(14,091)
Ending balance	2,664,401	376,032	2,664,401	376,032
IRLCs
Reconciliation of Level 3 Assets:
Beginning balance	907,978	2,393,764	1,897,194	508,135
Transfers in	0	0	0	0
Transfers out/principal reductions	0	0	0	0
Net transfers and revaluation gains (losses)	(113,720)	196,555	(1,102,936)	2,082,184
Total gains (losses) included in net income	0	0	0	0
Ending balance	$ 794,258	$ 2,590,319	$ 794,258	$ 2,590,319

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Option for Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Mortgage loans held for sale, at fair value	$ 23,251,936	$ 22,865,106
Mortgage loans held for sale, unpaid principal balance	22,825,105	21,834,817
Difference	$ 426,831	$ 1,030,289

Fair Value Measurements - Liabi

Fair Value Measurements - Liabilities not Recorded at Fair Value on Recurring or Nonrecurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Carrying Amount | 2028 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 996,612	$ 994,986
Carrying Amount | 2029 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	742,699	741,946
Carrying Amount | 2031 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	1,237,128	1,236,114
Estimated Fair Value | 2028 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	1,089,527	1,079,629
Estimated Fair Value | 2029 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	761,370	766,365
Estimated Fair Value | 2031 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 1,264,263	$ 1,298,175

Mortgage Servicing Rights - Cha

Mortgage Servicing Rights - Changes to MSR Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Changes to MSR Assets
Fair value, beginning of period	$ 4,644,172	$ 2,289,209	$ 2,862,685	$ 2,874,972
MSRs originated	907,242	836,557	2,937,517	2,041,899
MSRs sales	(572,218)	(140,359)	(671,278)	(326,652)
MSRs purchases	38,281	0	38,281	0
Changes in fair value:
Due to changes in valuation model inputs or assumptions	(16,123)	(113,547)	426,111	(1,191,967)
Due to collection/realization of cash flows	(300,309)	(265,711)	(892,271)	(792,103)
Total changes in fair value	(316,432)	(379,258)	(466,160)	(1,984,070)
Fair value, end of period	$ 4,701,045	$ 2,606,149	$ 4,701,045	$ 2,606,149

Mortgage Servicing Rights - Nar

Mortgage Servicing Rights - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Transfers and Servicing [Abstract]
UPB of mortgage loans serviced		$ 371,494,905	$ 454,666,840
Delinquent loans as a percentage of total portfolio (percent)			2.15%
Delinquent loans as a percentage of total portfolio, excluding clients in forbearance plans (percent)			0.83%
Fair value of MSRs sold and not qualifying for sale accounting treatment	$ 4,885	$ 193,739
Fair value of MSRs sold			$ 666,374	$ 326,653

Mortgage Servicing Rights - Fai

Mortgage Servicing Rights - Fair Value Assumptions (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Transfers and Servicing [Abstract]
Discount rate (percent)	9.50%	9.90%
Prepayment speeds (percent)	9.80%	15.80%
Life (in years)	6 years 9 months 18 days	5 years 18 days

Mortgage Servicing Rights - Dis

Mortgage Servicing Rights - Discount Rate and Prepayment Speeds at Two Different Data Points (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Discount Rate
Discount Rate, 100 BPS Adverse Change	$ (201,591)	$ (115,130)
Discount Rate, 200 BPS Adverse Change	(375,589)	(212,119)
Prepayment Speeds
Prepayment Speeds, 10% Adverse Change	(187,901)	(147,420)
Prepayment Speeds, 20% Adverse Change	$ (358,121)	$ (279,691)

Mortgage Loans Held for Sale (D

Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Mortgage loans held for sale
Balance at the beginning of period	$ 22,865,106	$ 13,275,735
Disbursements of mortgage loans held for sale	275,516,411	209,540,623
Proceeds from sales of mortgage loans held for sale	(281,117,441)	(208,122,820)
Gain on sale of mortgage loans excluding fair value of other financial instruments, net	5,987,860	6,983,862
Balance at the end of period	$ 23,251,936	$ 21,677,400
Mortgage loans held for sale average holding period	18 days

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Nov. 09, 2021	Oct. 31, 2021
Debt Instrument [Line Items]
Cash used to buy-down funding facilities and self-fund loans	$ 3,399,503
Buy-down funds	500,732
Self-funding	$ 2,898,771
Funding facilities and Other financing facilities | Minimum
Debt Instrument [Line Items]
Commitment fees (percent)	0.00%
Funding facilities and Other financing facilities | Maximum
Debt Instrument [Line Items]
Commitment fees (percent)	0.50%
2026 Senior Notes | Unsecured Senior Notes | Subsequent event
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,150	$ 1,150,000
Interest rate (percent)		2.875%	2.875%
2033 Senior Notes | Unsecured Senior Notes | Subsequent event
Debt Instrument [Line Items]
Aggregate principal amount		$ 850	$ 850,000
Interest rate (percent)		4.00%	4.00%

Borrowings - Funding Facilities

Borrowings - Funding Facilities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Nov. 09, 2021
Line of Credit Facility [Line Items]
Total Funding Facilities	$ 16,623,031,000	$ 17,742,573,000
Funding Facilities
Line of Credit Facility [Line Items]
Line Amount	24,900,000,000
Committed Line Amount	$ 5,600,000,000
Funding Facilities | Base rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%	0.40%
Funding Facilities | Base rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%	2.30%
Funding Facilities | MRA funding
Line of Credit Facility [Line Items]
Line Amount	$ 17,900,000,000
Committed Line Amount	5,600,000,000
Master Repurchase Agreements	11,368,711,000	$ 14,258,968,000
Funding Facilities | Master Repurchase Agreement Due Oct 22 2021
Line of Credit Facility [Line Items]
Line Amount	2,000,000,000
Committed Line Amount	100,000,000
Master Repurchase Agreements	1,499,791,000	999,752,000
Funding Facilities | Master Repurchase Agreement Due Dec 02 2021
Line of Credit Facility [Line Items]
Line Amount	1,500,000,000
Committed Line Amount	500,000,000
Master Repurchase Agreements	1,456,449,000	1,320,484,000
Funding Facilities | Master Repurchase Agreement Due Apr 21 2023
Line of Credit Facility [Line Items]
Line Amount	2,750,000,000
Committed Line Amount	1,000,000,000
Master Repurchase Agreements	1,331,022,000	2,407,156,000
Funding Facilities | Master Repurchase Agreement Due Jul 26 2022
Line of Credit Facility [Line Items]
Line Amount	1,700,000,000
Committed Line Amount	1,400,000,000
Master Repurchase Agreements	$ 1,647,400,000	1,953,949,000
Facility term	12 months
Extension term	3 months
Timing option for extending facility	3 months
Funding Facilities | Master Repurchase Agreement Due Apr 20 2023
Line of Credit Facility [Line Items]
Line Amount	$ 3,000,000,000
Committed Line Amount	500,000,000
Master Repurchase Agreements	2,413,175,000	2,004,707,000
Funding Facilities | Master Repurchase Agreement Due Sep 22 2023
Line of Credit Facility [Line Items]
Line Amount	2,000,000,000
Committed Line Amount	500,000,000
Master Repurchase Agreements	496,864,000	1,780,902,000
Funding Facilities | Master Repurchase Agreement Due Sep 15 2023
Line of Credit Facility [Line Items]
Line Amount	1,200,000,000
Committed Line Amount	500,000,000
Master Repurchase Agreements	477,108,000	1,343,130,000
Funding Facilities | Master Repurchase Agreement Due Jun 10 2022
Line of Credit Facility [Line Items]
Line Amount	500,000,000
Committed Line Amount	0
Master Repurchase Agreements	348,655,000	219,786,000
Funding Facilities | Master Repurchase Agreement Due Sep 22 2023 Two
Line of Credit Facility [Line Items]
Line Amount	1,500,000,000
Committed Line Amount	500,000,000
Master Repurchase Agreements	506,022,000	983,126,000
Funding Facilities | Master Repurchase Agreement Due Aug 16 2023
Line of Credit Facility [Line Items]
Line Amount	750,000,000
Committed Line Amount	100,000,000
Master Repurchase Agreements	690,565,000	480,544,000
Funding Facilities | Master Repurchase Agreement Due Dec 17 2021
Line of Credit Facility [Line Items]
Line Amount	1,000,000,000
Committed Line Amount	500,000,000
Master Repurchase Agreements	501,660,000	765,432,000
Funding Facilities | Master Repurchase Agreement Due Dec 17 2021 | Subsequent event
Line of Credit Facility [Line Items]
Committed Line Amount			$ 250,000,000
Funding Facilities | Early Funding
Line of Credit Facility [Line Items]
Line Amount	7,000,000,000
Committed Line Amount	0
Early Funding Facilities	5,254,320,000	3,483,605,000
Funding Facilities | Early Funding Facility, one
Line of Credit Facility [Line Items]
Line Amount	4,000,000,000
Committed Line Amount	0
Early Funding Facilities	3,891,608,000	2,514,193,000
Funding Facilities | Early Funding Facility, two
Line of Credit Facility [Line Items]
Line Amount	3,000,000,000
Committed Line Amount	0
Early Funding Facilities	$ 1,362,712,000	$ 969,412,000
Timing for review of agreement	90 days

Borrowings - Other Financing Fa

Borrowings - Other Financing Facilities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Line of Credit Financing Facilities	$ 75,000,000	$ 375,000,000
Early Buy out Financing Facilities	2,219,319,000	330,266,000
Line of Credit Financing Facilities
Line of Credit Facility [Line Items]
Line Amount	3,500,000,000
Committed Line Amount	1,200,000,000
Line of Credit Financing Facilities	$ 75,000,000	$ 375,000,000
Line of Credit Financing Facilities | Base rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.45%	1.75%
Line of Credit Financing Facilities | Base rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	4.00%	4.00%
Line of Credit | Unsecured line of credit, maturing Jul 27 2025, RHI | Affiliated entity
Line of Credit Facility [Line Items]
Line Amount	$ 2,000,000,000
Committed Line Amount	0
Line of Credit Financing Facilities	0	$ 0
Line of Credit | Unsecured line of credit, maturing Jul 31 2025, RHI
Line of Credit Facility [Line Items]
Line of Credit Financing Facilities	0	0
Line of Credit | Unsecured line of credit, maturing Jul 31 2025, RHI | Affiliated entity
Line of Credit Facility [Line Items]
Line Amount	100,000,000
Committed Line Amount	0
Line of Credit Financing Facilities	0	0
Line of Credit | MSRs line of credit, maturing Oct 22 2021
Line of Credit Facility [Line Items]
Line Amount	200,000,000
Committed Line Amount	0
Line of Credit Financing Facilities	0	0
Line of Credit | MSRs line of credit, maturing Apr 30 2024
Line of Credit Facility [Line Items]
Line Amount	200,000,000
Committed Line Amount	200,000,000
Line of Credit Financing Facilities	$ 75,000,000	75,000,000
Facility term	5 years
Facility revolving period	3 years
Facility amortization period	2 years
Revolving Credit Facility | Revolving credit facility due Aug 10 2024
Line of Credit Facility [Line Items]
Line Amount	$ 1,000,000,000
Committed Line Amount	1,000,000,000
Line of Credit Financing Facilities	0	$ 300,000,000
Early Buy out Financing Facility
Line of Credit Facility [Line Items]
Line Amount	2,600,000,000
Committed Line Amount	$ 0
Early Buy out Financing Facility | Base rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.45%	1.75%
Early Buy out Financing Facility | Base rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	4.00%	4.00%

Borrowings - Unsecured Senior N

Borrowings - Unsecured Senior Notes (Details) - Unsecured Senior Notes - USD ($) $ in Thousands	1 Months Ended
	Nov. 09, 2021	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Outstanding Balance		$ 3,010,000	$ 3,010,000
Weighted Average Interest Rate (percent)		4.27%	4.27%
2028 Senior Notes
Debt Instrument [Line Items]
Interest Rate (percent)		5.25%
Outstanding Balance		$ 1,010,000	$ 1,010,000
Unamortized debt issuance costs		7,308	8,197
Unamortized discounts		$ 6,080	6,817
2028 Senior Notes | Subsequent event
Debt Instrument [Line Items]
Outstanding principal redeemed	$ 948,015
Cash payment for redemption of debt	$ 1,032,364
2029 Senior Notes
Debt Instrument [Line Items]
Interest Rate (percent)		3.625%
Outstanding Balance		$ 750,000	750,000
Unamortized debt issuance costs and discounts		$ 7,301	8,053
2031 Senior Notes
Debt Instrument [Line Items]
Interest Rate (percent)		3.875%
Outstanding Balance		$ 1,250,000	1,250,000
Unamortized debt issuance costs and discounts		$ 12,872	$ 13,887

Transactions with Related Par_3

Transactions with Related Parties - Narrative (Details) - USD ($)	Jul. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Sep. 16, 2021
Related Party Transaction [Line Items]
Lines of credit		$ 75,000,000		$ 75,000,000		$ 375,000,000
Marketing and advertising expenses		316,471,000	$ 250,558,000	943,999,000	$ 670,749,000
Line of Credit | Unsecured line of credit, maturing Jul 31 2025, RHI
Related Party Transaction [Line Items]
Lines of credit		0		0		0
Affiliated entity
Related Party Transaction [Line Items]
Surplus debenture with related party		21,500,000		$ 21,500,000		$ 21,500,000
Interest rate (percent)				8.00%		8.00%
Affiliated entity | Line of Credit | Unsecured line of credit, maturing Jul 27 2025, RHI
Related Party Transaction [Line Items]
Line amount		2,000,000,000		$ 2,000,000,000
Lines of credit		0		0		$ 0
Interest due		250,000		250,000		0
Affiliated entity | Line of Credit | Unsecured line of credit, maturing Jul 31 2025, RHI
Related Party Transaction [Line Items]
Line amount		100,000,000		100,000,000
Lines of credit		0		$ 0		$ 0
Affiliated entity | RHI credit agreement | Line of Credit | Unsecured line of credit, maturing Jul 27 2025, RHI
Related Party Transaction [Line Items]
Line amount							$ 2,000,000,000
Affiliated entity | RHI credit agreement | Line of Credit | Unsecured line of credit, maturing Jul 27 2025, RHI | One-month LIBOR
Related Party Transaction [Line Items]
Basis spread on variable rate				1.25%
Affiliated entity | RHI credit agreement | Line of Credit | Unsecured line of credit, maturing Jul 31 2025, RHI
Related Party Transaction [Line Items]
Line amount	$ 100,000,000
Affiliated entity | RHI credit agreement | Line of Credit | Unsecured line of credit, maturing Jul 31 2025, RHI | One-month LIBOR
Related Party Transaction [Line Items]
Basis spread on variable rate	1.25%
Affiliated entity | RHI/ATI Debenture
Related Party Transaction [Line Items]
Surplus debenture with related party		21,500,000		$ 21,500,000
Interest rate (percent)				8.00%
Affiliated entity | Services, products and other transactions
Related Party Transaction [Line Items]
Revenue from related parties		3,494,000	4,067,000	$ 10,592,000	9,761,000
General and administrative expenses from transactions with related parties		48,861,000	64,330,000	121,599,000	164,260,000
Affiliated entity | Promotional sponsorships
Related Party Transaction [Line Items]
Marketing and advertising expenses		2,180,000	2,373,000	6,850,000	7,018,000
Affiliated entity | Bedrock lease agreements
Related Party Transaction [Line Items]
Expenses from transaction with related parties		$ 16,189,000	$ 18,069,000	$ 51,001,000	$ 52,221,000

Transactions with Related Par_4

Transactions with Related Parties - Receivables from and Payables to Related Parties (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Included in Notes receivable and due from affiliates on the Condensed Consolidated Balance Sheets
Notes receivable and due from affiliates	$ 9,671	$ 22,172
Included in Notes payable and due to affiliates on the Condensed Consolidated Balance Sheets
Notes payable and due to affiliates	29,892	73,896
Affiliated entity
Included in Notes receivable and due from affiliates on the Condensed Consolidated Balance Sheets
Affiliated receivables and other notes	9,671	22,172
Notes receivable and due from affiliates	9,671	22,172
Included in Notes payable and due to affiliates on the Condensed Consolidated Balance Sheets
RHI/ATI Debenture	21,500	21,500
Affiliated payables	8,392	52,396
Notes payable and due to affiliates	$ 29,892	$ 73,896
Interest rate (percent)	8.00%	8.00%
Affiliated entity | RHI/ATI Debenture
Included in Notes payable and due to affiliates on the Condensed Consolidated Balance Sheets
RHI/ATI Debenture	$ 21,500
Interest rate (percent)	8.00%

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Mortgage production related receivables	$ 353,722	$ 307,282
Disbursement funds advanced	209,014	80,877
Prepaid expenses	129,895	98,529
Non-production-related receivables	101,617	76,595
Goodwill and other intangible assets	44,151	47,230
Ginnie Mae buyouts	25,490	40,681
Other real estate owned	564	1,131
Margin call receivable from counterparty	0	247,604
Other	77,390	41,548
Total other assets	$ 941,843	$ 941,477

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 09, 2020	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense			$ 32,830		$ 61,683	$ 122,709	$ 84,363
Income before income taxes			1,425,689		3,057,066	$ 5,329,556	6,642,875
Percentage of applicable tax savings payable per tax receivable agreement						90.00%
Percentage of applicable tax savings retained by the Company per tax receivable agreement						10.00%
Holdings Units acquired (in units)		115,000,000		115,000,000
Value of Holdings Units acquired				$ 2,070,000
Valuation Allowance [Line Items]
Increase in Tax receivable agreement liability	$ 119,456
Offsetting amount to additional paid-in capital	$ 985
Tax distributions to holders of Holdings Units			$ 395,057		$ 5,670	$ 1,801,756	$ 5,670
Class A common stock
Valuation Allowance [Line Items]
Shares received in exchange of paired interests	20,200,000
Investment in partnership
Valuation Allowance [Line Items]
Increase in deferred tax asset	$ 123,587
Increase in valuation allowance	$ 3,146

Derivative Financial Instrume_3

Derivative Financial Instruments - Net Hedging Losses and Gains (Details) - Forward commitments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Hedging gains	$ 652,337		$ 2,020,328
Hedging (losses)		$ (776,086)		$ (2,283,874)

Derivative Financial Instrume_4

Derivative Financial Instruments - Notional and Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative liability	$ 35,795	$ 506,071
IRLCs, net of loan funding probability
Derivative [Line Items]
Derivative asset	794,258	1,897,194
Derivative liability	0	0
Forward commitments
Derivative [Line Items]
Derivative asset	253,200	20,584
Derivative liability	35,795	506,071
Not Designated | IRLCs, net of loan funding probability
Derivative [Line Items]
Notional value	30,537,502	40,560,544
Not Designated | Forward commitments
Derivative [Line Items]
Notional value	$ 45,033,900	$ 59,041,900

Derivative Financial Instrume_5

Derivative Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash pledged to counterparties	$ 0		$ 0		$ 247,604,000
Cash pledged from counterparties	266,603,000		266,603,000		$ 0
Credit losses due to nonperformance of counterparty	$ 0	$ 0	$ 0	$ 0

Derivative Financial Instrume_6

Derivative Financial Instruments - Gross Amounts Recognized Subject to Master Netting Agreements (Details) - Not Designated - Forward commitments - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Offsetting Assets [Line Items]
Gross Amount of Recognized Assets	$ 404,896	$ 35,746
Gross Amounts Offset in the Condensed Consolidated Balance Sheets	(151,696)	(15,162)
Net Assets Presented in the Condensed Consolidated Balance Sheets	253,200	20,584
Gross Amount of Recognized Liabilities	(64,225)	(715,671)
Gross Amounts Offset in the Condensed Consolidated Balance Sheets	28,430	209,600
Net Liabilities Presented in the Condensed Consolidated Balance Sheets	$ (35,795)	$ (506,071)

Commitments, Contingencies, a_3

Commitments, Contingencies, and Guarantees - Narrative (Details)	Sep. 30, 2021USD ($)guarantee	Dec. 31, 2020USD ($)guarantee	Sep. 30, 2021USD ($)guarantee	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)guarantee	Sep. 30, 2020USD ($)
Other Commitments [Line Items]
Administrated escrow deposits for property taxes and insurance	$ 5,247,722,000	$ 3,551,400,000	$ 5,247,722,000		$ 5,247,722,000
Administrated escrow deposits for principal and interest	9,915,371,000	13,065,549,000	9,915,371,000		9,915,371,000
Other expenses			135,415,000	$ 158,113,000	467,584,000	$ 386,024,000
Estimated Litigation Liability	$ 15,000,000	$ 0	15,000,000		15,000,000
IRLCs
Other Commitments [Line Items]
Average number of days until expiration of interest rate lock commitments	43 days	43 days
Mortgages
Other Commitments [Line Items]
Commitments to sell loans	$ 5,717,997,000	$ 3,139,816,000	5,717,997,000		5,717,997,000
MSRs with Servicing Released
Other Commitments [Line Items]
Commitments to sell loans	734,370,000	280,502,000	734,370,000		734,370,000
Financial guarantee
Other Commitments [Line Items]
Guaranteed debt total amount	$ 5,356,000	$ 15,000,000	$ 5,356,000		$ 5,356,000
Number of separate guarantees | guarantee	3	3	3		3
Trademark license
Other Commitments [Line Items]
Other expenses			$ 0	$ 1,875,000	$ 625,000	$ 3,750,000

Commitments, Contingencies, a_4

Commitments, Contingencies, and Guarantees - Interest Rate Lock Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
IRLCs UPB, Fixed Rate	$ 37,296,375	$ 53,736,717
IRLCs UPB, Variable Rate	$ 1,919,846	$ 1,065,936

Commitments, Contingencies, a_5

Commitments, Contingencies, and Guarantees - Investor Reserves Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investor Reserves
Balance at beginning of period	$ 74,202	$ 63,012	$ 87,191	$ 54,387
Provision for (benefit from) investor reserves	6,327	(3,665)	(7,642)	5,698
Premium recapture and indemnification losses paid	(208)	(2,329)	772	(3,067)
Balance at end of period	$ 80,321	$ 57,018	$ 80,321	$ 57,018

Minimum Net Worth Requirements

Minimum Net Worth Requirements (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Minimum capital ratio requirement, Adjusted/Tangible Net Worth to Total Assets	0.06
Minimum adjusted net worth balance	$ 2,063,446,000	$ 2,175,968,000
Fannie Mae and Freddie Mac
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Minimum base net worth requirement	$ 2,500,000
Minimum net worth requirement, basis point component per outstanding UPB	0.25%
Minimum liquidity requirement, basis points per total Agency servicing	0.035%
Minimum liquidity requirement, basis points per total nonperforming Agency servicing	2.00%
Minimum liquidity requirement, threshold percentage of nonperforming Agency servicing in excess of total Agency servicing	6.00%
Ginnie Mae
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Minimum base net worth requirement	$ 2,500,000
Minimum net worth requirement, basis point component per single-family effective outstanding obligations	0.35%
Minimum liquidity requirement, liquid assets amount	$ 1,000,000
Minimum liquidity requirement, liquid assets as basis points per outstanding single-family MBS	0.10%

Segments - Key Operating Data f

Segments - Key Operating Data for Business Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			2
Segment Reporting Information [Line Items]
Gain on sale	$ 2,654,213	$ 4,280,442	$ 8,548,144	$ 10,856,135
Interest income	129,963	79,890	311,853	231,971
Interest expense on funding facilities	(72,778)	(69,364)	(205,000)	(162,580)
Servicing fee income	334,348	272,158	970,058	779,093
Change in fair value of MSRs	(341,361)	(392,688)	(556,201)	(1,985,545)
Other income	410,345	445,757	1,252,845	1,250,481
Total revenue, net	3,114,730	4,616,195	10,321,699	10,969,555
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	47,514	126,977	(329,608)	1,193,442
Adjusted revenue	3,162,244	4,743,172	9,992,091	12,162,997
Directly attributable expenses	1,172,035	1,184,905	3,537,232	3,265,760
Contribution margin	1,990,209	3,558,267	$ 6,454,859	8,897,237
Number of reportable segments | segment			2
Reportable Segments
Segment Reporting Information [Line Items]
Gain on sale	2,644,282	4,279,766	$ 8,530,601	10,849,199
Interest income	128,927	79,455	309,366	229,725
Interest expense on funding facilities	(72,776)	(69,364)	(204,952)	(162,169)
Servicing fee income	333,653	271,254	967,993	776,117
Change in fair value of MSRs	(341,361)	(392,688)	(556,201)	(1,985,545)
Other income	265,682	285,713	851,458	696,743
Total revenue, net	2,958,407	4,454,136	9,898,265	10,404,070
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	47,514	126,977	(329,608)	1,193,442
Adjusted revenue	3,005,921	4,581,113	9,568,657	11,597,512
Directly attributable expenses	1,104,143	1,071,441	3,340,427	2,983,381
Contribution margin	1,901,778	3,509,672	6,228,230	8,614,131
Reportable Segments | Direct to Consumer
Segment Reporting Information [Line Items]
Gain on sale	2,241,633	3,128,695	7,155,872	8,759,914
Interest income	77,112	53,764	188,269	152,087
Interest expense on funding facilities	(43,528)	(46,936)	(124,942)	(107,718)
Servicing fee income	333,653	271,254	967,993	776,117
Change in fair value of MSRs	(341,361)	(392,688)	(556,201)	(1,985,545)
Other income	234,381	237,855	769,152	589,415
Total revenue, net	2,501,890	3,251,944	8,400,143	8,184,270
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	47,514	126,977	(329,608)	1,193,442
Adjusted revenue	2,549,404	3,378,921	8,070,535	9,377,712
Directly attributable expenses	927,897	930,227	2,808,340	2,611,044
Contribution margin	1,621,507	2,448,694	5,262,195	6,766,668
Reportable Segments | Partner Network
Segment Reporting Information [Line Items]
Gain on sale	402,649	1,151,071	1,374,729	2,089,285
Interest income	51,815	25,691	121,097	77,638
Interest expense on funding facilities	(29,248)	(22,428)	(80,010)	(54,451)
Servicing fee income	0	0	0	0
Change in fair value of MSRs	0	0	0	0
Other income	31,301	47,858	82,306	107,328
Total revenue, net	456,517	1,202,192	1,498,122	2,219,800
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	0	0	0	0
Adjusted revenue	456,517	1,202,192	1,498,122	2,219,800
Directly attributable expenses	176,246	141,214	532,087	372,337
Contribution margin	280,271	1,060,978	966,035	1,847,463
All Other
Segment Reporting Information [Line Items]
Gain on sale	9,931	676	17,543	6,936
Interest income	1,036	435	2,487	2,246
Interest expense on funding facilities	(2)	0	(48)	(411)
Servicing fee income	695	904	2,065	2,976
Change in fair value of MSRs	0	0	0	0
Other income	144,663	160,044	401,387	553,738
Total revenue, net	156,323	162,059	423,434	565,485
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	0	0	0	0
Adjusted revenue	156,323	162,059	423,434	565,485
Directly attributable expenses	67,892	113,464	196,805	282,379
Contribution margin	$ 88,431	$ 48,595	$ 226,629	$ 283,106

Segments - Reconciliation of Se

Segments - Reconciliation of Segment Contribution Margin to U.S. GAAP Net Income Before Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment reporting reconciliation [Line Items]
Contribution margin, excluding change in MSRs due to valuation assumptions	$ 1,990,209	$ 3,558,267	$ 6,454,859	$ 8,897,237
(Decrease) increase in MSRs due to valuation assumptions (net of hedges)	(47,514)	(126,977)	329,608	(1,193,442)
Contribution margin, including change in MSRs due to valuation assumptions	1,942,695	3,431,290	6,784,467	7,703,795
Salaries, commissions and team member benefits	870,010	816,408	2,552,679	2,354,021
General and administrative expenses	313,405	280,705	867,639	763,962
Depreciation and amortization	19,577	15,329	55,470	47,633
Interest and amortization expense on non-funding debt	34,163	38,016	104,772	104,291
Other expenses	135,415	158,113	467,584	386,024
Income before income taxes	1,425,689	3,057,066	5,329,556	6,642,875
Expenses not allocated to segments
Segment reporting reconciliation [Line Items]
Salaries, commissions and team member benefits	237,410	198,482	694,421	602,832
General and administrative expenses	224,597	122,137	595,283	310,711
Depreciation and amortization	19,577	15,329	55,470	47,633
Interest and amortization expense on non-funding debt	34,163	38,016	104,772	104,291
Other expenses	$ 1,259	$ 260	$ 4,965	$ (4,547)

Variable Interest Entities (Det

Variable Interest Entities (Details)	9 Months Ended
	Sep. 30, 2021
Holdings
Variable Interest Entity [Line Items]
Management and voting interest as managing member in Holdings (percent)	100.00%

Non-controlling Interests - Sum

Non-controlling Interests - Summary of Ownership (Details) - Holdings - shares	Sep. 30, 2021	Dec. 31, 2020
Noncontrolling Interest [Line Items]
Holdings Units (shares)	1,986,246,911	1,984,452,048
Ownership Percentage	100.00%	100.00%
Rocket Companies Inc.
Noncontrolling Interest [Line Items]
Holdings Units (shares)	137,367,428	115,372,565
Ownership Percentage	6.91%	5.81%
Chairman
Noncontrolling Interest [Line Items]
Holdings Units (shares)	1,101,822	1,101,822
Ownership Percentage	0.06%	0.06%
RHI
Noncontrolling Interest [Line Items]
Holdings Units (shares)	1,847,777,661	1,867,977,661
Ownership Percentage	93.03%	94.13%

Non-controlling Interests - Nar

Non-controlling Interests - Narrative (Details)	Mar. 31, 2021shares
Noncontrolling Interest [Line Items]
Increase in controlling interest (percent)	1.00%
Class A common stock
Noncontrolling Interest [Line Items]
Shares received in exchange of paired interests	20,200,000

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 40,879	$ 33,252	$ 123,900	$ 119,986
TMSPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for equity-based awards (shares)	10,526,316		10,526,316
Percentage of gross pay eligible for utilization	15.00%		15.00%
Percentage of closing market price for purchases	85.00%		85.00%
Shares purchased under the TMSPP	947,358,000		1,844,059,000

Share-based Compensation -Share

Share-based Compensation -Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 40,879	$ 33,252	$ 123,900	$ 119,986
RKT-denominated awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	39,226	25,210	118,972	25,210
RKT-denominated awards | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	26,615	18,590	81,179	18,590
RKT-denominated awards | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	10,257	6,620	30,155	6,620
RKT-denominated awards | Team Member Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,354	0	7,638	0
RHI-denominated awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,372	7,992	4,117	94,630
RHI-denominated awards | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,372	7,992	4,117	68,177
RHI-denominated awards | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0	0	0	32
RHI-denominated awards | Cash settled awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0	$ 0	$ 0	$ 26,421

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share Reconciliation
Net income	$ 1,392,859	$ 1,036,650	$ 2,777,338	$ 2,995,383	$ 3,464,082	$ 99,047	$ 5,206,847	$ 6,558,512
Net income attributable to non-controlling interest	(1,317,522)			(2,937,480)			(4,946,688)	(6,500,609)
Net income attributable to Rocket Companies	75,337			57,903			260,159	57,903
Add: Reallocation of Net income attributable to vested, undelivered stock awards	39			0			141	0
Net income attributable to common shareholders	75,376			57,903			260,300	57,903
Numerator:
Net income attributable to Class A common shareholders - basic	75,376			57,903			260,300	57,903
Add: Reallocation of net income attributable to dilutive impact of pro-forma conversion of Class D shares to Class A shares	991,852			0			0	0
Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards	2,294			0			10,254	0
Net income attributable to Class A common shareholders - diluted	$ 1,069,522			$ 57,903			$ 270,554	$ 57,903
Denominator:
Weighted average shares of Class A common stock outstanding - basic	137,664,471			106,265,422			129,902,253	106,265,422
Add: Dilutive impact of conversion of Class D shares to Class A shares	1,848,879,483			0			0	0
Add: Dilutive impact of share-based compensation awards	4,284,397			0			5,490,417	0
Weighted average shares of Class A common stock outstanding - diluted	1,990,828,351			106,265,422			135,392,670	106,265,422
Earnings per share of Class A common stock outstanding - basic (in dollars per share)	$ 0.55			$ 0.54			$ 2	$ 0.54
Earnings per share of Class A common stock outstanding - diluted (in dollars per share)	$ 0.54			$ 0.54			$ 2	$ 0.54
Restricted stock units
Numerator:
Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards	$ 2,223			$ 0			$ 10,027	$ 0
Denominator:
Add: Dilutive impact of share-based compensation awards	4,151,765			0			5,369,320	0
Stock options
Numerator:
Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards	$ 0			$ 0			$ 0	$ 0
Denominator:
Add: Dilutive impact of share-based compensation awards	0			0			0	0
TMSPP
Numerator:
Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards	$ 71			$ 0			$ 227	$ 0
Denominator:
Add: Dilutive impact of share-based compensation awards	132,632			0			121,097	0

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	2 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Dec. 31, 2020
Class B common stock
Class of Stock [Line Items]
Common stock outstanding (shares)		0	0
Holdings Units and corresponding Class D common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted EPS	1,878,058,054	1,855,464,831
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted EPS	16,601,433
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted EPS	26,235,912