Rocket Companies (RKT) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 03, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-39432
Entity Registrant Name	Rocket Companies, Inc.
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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001805284
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A common stock
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		118,539,560
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	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 2,310,661	$ 2,131,174
Restricted cash	77,027	80,423
Mortgage loans held for sale, at fair value	10,685,144	19,323,568
Mortgage servicing rights (“MSRs”), at fair value	6,410,288	5,385,613
Notes receivable and due from affiliates	10,796	9,753
Property and equipment, net of accumulated depreciation and amortization of $581,618 and $567,406, respectively	260,042	254,376
Deferred tax asset, net	555,663	572,049
Lease right of use assets	414,201	427,895
Loans subject to repurchase right from Ginnie Mae	1,490,804	1,918,032
Other assets	2,152,276	2,115,814
Total assets	25,248,020	32,774,895
Liabilities
Funding facilities	6,469,607	12,751,592
Lines of credit	0	75,000
Senior Notes, net	4,023,861	4,022,491
Early buy out facility	1,698,167	1,896,784
Accounts payable	288,860	271,544
Lease liabilities	468,693	482,184
Forward commitments, at fair value	34,126	19,911
Investor reserves	80,759	78,888
Notes payable and due to affiliates	29,656	33,650
Tax receivable agreement liability	647,852	688,573
Loans subject to repurchase right from Ginnie Mae	1,490,804	1,918,032
Other liabilities	1,314,339	776,714
Total liabilities	16,546,724	23,015,363
Equity
Additional paid-in capital	241,458	287,558
Retained earnings	305,794	378,005
Accumulated other comprehensive income	22	81
Non-controlling interest	8,154,002	9,093,868
Total equity	8,701,296	9,759,532
Total liabilities and equity	25,248,020	32,774,895
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	213,210	538,861
Forward commitments
Assets
Derivatives, at fair value	$ 667,908	$ 17,337

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property and equipment, accumulated depreciation and amortization	$ 581,618	$ 567,406
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)	119,627,004	126,437,703
Common stock outstanding (shares)	119,627,004	126,437,703
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	1,848,879,483
Common stock outstanding (shares)	1,848,879,483	1,848,879,483

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Gain on sale of loans
Gain on sale of loans excluding fair value of MSRs, net	$ 687,170	$ 2,379,278
Fair value of originated MSRs	796,616	1,173,164
Gain on sale of loans, net	1,483,786	3,552,442
Loan servicing income
Servicing fee income	366,214	292,361
Change in fair value of MSRs	454,380	200,555
Loan servicing income	820,594	492,916
Interest income
Interest income	90,540	95,245
Interest expense on funding facilities	(41,696)	(67,844)
Interest income, net	48,844	27,401
Other income	317,372	466,112
Total revenue, net	2,670,596	4,538,871
Expenses
Salaries, commissions and team member benefits	853,915	842,199
General and administrative expenses	275,857	291,419
Marketing and advertising expenses	328,058	320,843
Depreciation and amortization	21,042	15,304
Interest and amortization expense on non-funding debt	38,664	35,571
Other expenses	90,603	190,365
Total expenses	1,608,139	1,695,701
Income before income taxes	1,062,457	2,843,170
Provision for income taxes	(25,849)	(65,832)
Net income	1,036,608	2,777,338
Net income attributable to non-controlling interest	(982,896)	(2,653,636)
Net income attributable to Rocket Companies	$ 53,712	$ 123,702
Earnings per share of Class A common stock
Basic (in dollars per share)	$ 0.44	$ 1.07
Diluted (in dollars per share)	$ 0.40	$ 1.07
Weighted average shares outstanding
Basic (shares)	122,691,728	115,673,524
Diluted (shares)	1,975,379,132	122,011,916
Comprehensive income
Net income	$ 1,036,608	$ 2,777,338
Cumulative translation adjustment	588	307
Unrealized loss on investment securities	(1,495)	(364)
Comprehensive income	1,035,701	2,777,281
Comprehensive income attributable to non-controlling interest	(982,049)	(2,653,586)
Comprehensive income attributable to Rocket Companies	$ 53,652	$ 123,695

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common StockClass A common stock	Common StockClass D common stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Non-controlling Interest
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	2,777,338				123,702		2,653,636
Cumulative translation adjustment	307					14	293
Unrealized loss on investment securities	(364)					(21)	(343)
Share-based compensation, net	39,149			2,116			37,033
Share-based compensation, net (shares)		2,300
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, 2021	9,759,532	$ 1	$ 19	287,558	378,005	81	9,093,868
Beginning Balance (shares) at Dec. 31, 2021		126,437,703	1,848,879,483
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,036,608				53,712		982,896
Cumulative translation adjustment	588					31	557
Unrealized loss on investment securities	(1,495)					(92)	(1,403)
Share-based compensation, net	53,381			3,288			50,093
Share-based compensation, net (shares)		186,891
Distributions for state taxes on behalf of unit holders (members), net	(35,707)				(2,171)		(33,536)
Distributions to unit holders (members) from subsidiary investment	(1,855,850)			725			(1,856,575)
Special Dividend to Class A Shareholders	(155,582)				(123,752)		(31,830)
Taxes withheld on employees' restricted share award vesting	(1,297)			(77)			(1,220)
Issuance of Class A common Shares under stock compensation and benefit plans	13,673			930			12,743
Issuance of Class A common Shares under stock compensation and benefit plans (shares)		1,018,875
Repurchase of Class A common Shares	(100,162)			(100,162)
Repurchase of Class A common Shares (shares)		(8,016,465)
Change in controlling interest of investment, net	(12,393)			49,196	0	2	(61,591)
Change in controlling interest of investment, net (shares)		0	0
Ending Balance at Mar. 31, 2022	$ 8,701,296	$ 1	$ 19	$ 241,458	$ 305,794	$ 22	$ 8,154,002
Ending Balance (shares) at Mar. 31, 2022		119,627,004	1,848,879,483

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income	$ 1,036,608	$ 2,777,338
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21,042	15,304
Provision for deferred income taxes	1,786	38,457
Origination of mortgage servicing rights	(796,616)	(1,173,164)
Change in fair value of MSRs, net	(478,655)	(245,921)
Gain on sale of loans excluding fair value of MSRs, net	(687,170)	(2,379,278)
Disbursements of mortgage loans held for sale	(54,173,353)	(104,103,499)
Proceeds from sale of loans held for sale	63,189,908	110,280,681
Share-based compensation expense	55,593	42,072
Change in assets and liabilities
Due from affiliates	(1,044)	10,272
Other assets	(37,034)	132,324
Accounts payable	17,316	45,499
Due to affiliates	(4,168)	(302)
Premium recapture and indemnification losses paid	(515)	1,399
Other liabilities	628,602	832,332
Total adjustments	7,735,692	3,496,176
Net cash provided by operating activities	8,772,300	6,273,514
Investing activities
Proceeds from sale of MSRs	253,946	10,204
Net purchase of MSRs	(15,581)	0
Decrease (increase) in mortgage loans held for investment	7,107
Decrease (increase) in mortgage loans held for investment		(12,462)
Purchase and other additions of property and equipment, net of disposals	(26,742)	(36,633)
Net cash provided by (used in) investing activities	218,730	(38,891)
Financing activities
Net payments on funding facilities	(6,281,985)	(3,289,901)
Net payments on lines of credit	(75,000)	0
Net (payments) borrowings on early buy out facility	(198,617)
Net (payments) borrowings on early buy out facility		305,446
Net borrowings on notes payable from unconsolidated affiliates	174	175
Proceeds from MSRs financing liability	0	11,704
Stock issuance	11,575	0
Share repurchase	(100,162)	0
Taxes withheld on employees' restricted share award vesting	(1,297)	0
Distributions to other unit holders (members) of Holdings, net	(2,170,216)	(2,375,904)
Net cash used in financing activities	(8,815,528)	(5,348,480)
Effects of exchange rate changes on cash and cash equivalents	589	307
Net increase in cash and cash equivalents and restricted cash	176,091	886,450
Cash and cash equivalents and restricted cash, beginning of period	2,211,597	2,054,103
Cash and cash equivalents and restricted cash, end of period	2,387,688	2,940,553
Non-cash activities
Loans transferred to other real estate owned	435	578
Supplemental disclosures
Cash paid for interest on related party borrowings	$ 1,231	$ 1,460

Business, Basis of Presentation

Business, Basis of Presentation and Accounting Policies	3 Months Ended
	Mar. 31, 2022
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 FinTech holding company consisting of tech-driven real estate, mortgage and financial services 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, auto sales, solar, and personal finance 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, Amrock Holdings, LLC (“Amrock”, "Amrock Title Insurance Company" ("ATI") 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” and "Rocket Solar"), Rock Central LLC dba Rocket Central ("Truebill, Inc."), EFB Holdings Inc. (“Edison Financial”), Lendesk Canada Holdings Inc. ("Lendesk Technologies"), 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. Basis of Presentation and Consolidation 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 below to Variable Interest Entities and Note 13 , Non-controlling Interests. All significant intercompany transactions and accounts between the businesses comprising the Company have been eliminated in the accompanying condensed consolidated financial statements. The Company's derivatives, IRLCs, mortgage loans held for sale, MSRs (including MSRs collateral for financing liability and MSRs financing liability), and investments are measured at fair value on a recurring basis. Additionally, other assets may be required to be measured at fair value in the consolidated financial statements on a nonrecurring basis. Examples of such measurements are mortgage loans transferred between held for investment and held for sale, certain impaired loans, and other real estate owned. For further details of the Company's transactions refer to Note 2, Fair Value Measurements. 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, 2021, 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. Truebill Acquisition On December 23, 2021 (“Acquisition Date”), we completed the acquisition of Truebill, Inc. (“Truebill Acquisition”) for total cash consideration of approximately $1.2 billion. The Truebill acquisition was accounted for as a business combination under ASC 805, Business Combinations. We recorded the preliminary allocation of the purchase price to the tangible and intangible assets acquired and liabilities assumed based on their fair values as of the Acquisition Date. The Company is finalizing the valuation of the intangible assets acquired as part of the business combination, including the assignment of goodwill to reporting units. As the purchase price allocation is preliminary in nature our estimates and assumptions are subject to change within the measurement period. 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 March 31, 2022. Special Dividends On February 24, 2022, our board of directors authorized and declared a cash dividend (the "2022 Special Dividend") of $1.01 per share to the holders of our Class A common stock. The 2022 Special Dividend was paid on March 22, 2022 to holders of the Class A common stock of record as of the close of business on March 8, 2022. The Company funded the 2022 Special Dividend from cash distributions of approximately $2.0 billion by Holdings to all of its members, including the Company. On February 25, 2021, our board of directors authorized and declared a cash dividend (the "2021 Special Dividend") of $1.11 per share to the holders of our Class A common stock. The 2021 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 2021 Special Dividend from cash distributions of approximately $2.2 billion by Holdings 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 income — 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 MSR 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, net title insurance fees and personal finance. 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 $4,464 and $6,680 for the three months ended March 31, 2022 and 2021, 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 $3,004 and $3,549 for the three months ended March 31, 2022 and 2021, 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 $11,398 and $9,578 for the three months ended March 31, 2022 and 2021, 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 $9,315 and $11,632 for the three months ended March 31, 2022 and 2021, 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 $76,978 and $157,167 for the three months ended March 31, 2022 and 2021, 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 $22,022 and $22,491 for the three months ended March 31, 2022 and 2021, respectively. Truebill subscription revenue — The Company recognizes subscription revenue ratably over the contract term beginning on the commencement date of each contract, which is the date the Truebill platform is made available to customers. We have determined that subscriptions to our platform represent a stand-ready obligation to perform over the subscription term. These performance obligations are satisfied over time as the customer simultaneously receives and consumes the benefits. Contracts are one month to one year in length. Subscription revenues were $25,754 for the three months ended March 31, 2022. 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 March 31, 2022 and 2021 consisted of cash on deposit for a repurchase facility and client application deposits, title premiums collected from the insured that are due to the underwritten, principal and interest received in collection accounts for purchased assets, and a $25,000 bond. March 31, 2022 2021 Cash and cash equivalents $ 2,310,661 $ 2,864,906 Restricted cash 77,027 75,647 Total cash, cash equivalents, and restricted cash in the statement of cash flows $ 2,387,688 $ 2,940,553 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. Variable Interest Entities Upon completion of the reorganization and IPO, Rocket Companies, Inc. became the 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 March 31, 2022. Recently Adopted Accounting Standards There are no recently issued accounting pronouncements adopted for the period.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 or December 31, 2021. 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 and internal models. 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 is determined using an internal 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. MSRs 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 three months ended March 31, 2022 or the year ended December 31, 2021. Level 1 Level 2 Level 3 Total Balance at March 31, 2022 Assets: Mortgage loans held for sale $ — $ 8,506,382 $ 2,178,762 $ 10,685,144 IRLCs — — 213,210 213,210 MSRs — — 6,410,288 6,410,288 Forward commitments — 667,908 — 667,908 Total assets $ — $ 9,174,290 $ 8,802,260 $ 17,976,550 Liabilities: Forward commitments $ — $ 34,126 $ — $ 34,126 Total liabilities $ — $ 34,126 $ — $ 34,126 Balance at December 31, 2021 Assets: Mortgage loans held for sale $ — $ 17,014,202 $ 2,309,366 $ 19,323,568 IRLCs — — 538,861 538,861 MSRs — — 5,385,613 5,385,613 Forward commitments — 17,337 — 17,337 Total assets $ — $ 17,031,539 $ 8,233,840 $ 25,265,379 Liabilities: Forward commitments $ — $ 19,911 $ — $ 19,911 Total liabilities $ — $ 19,911 $ — $ 19,911 The following tables present the quantitative information about recurring Level 3 fair value financial instruments and the fair value measurements as of: March 31, 2022 December 31, 2021 Unobservable Input Range Weighted Average Range Weighted Average Mortgage loans held for sale Dealer pricing 89% - 101% 98 % 89% - 103% 99 % IRLCs Loan funding probability 0% - 100% 77 % 0% - 100% 78 % MSRs Discount rate 9.0% - 12.0% 9.5 % 9.0% - 12.0% 9.5 % Conditional prepayment rate 6.5% - 15.0% 7.1 % 6.8% - 36.9% 8.7 % The table below presents a reconciliation of Level 3 assets measured at fair value on a recurring basis for the three months ended March 31, 2022 and 2021. Mortgage servicing rights 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 December 31, 2021 $ 2,309,366 $ 538,861 Transfers in (1) 522,640 — Transfers out/principal reductions (1) (618,320) — Net transfers and revaluation losses — (325,651) Total losses included in net income (34,924) — Balance at March 31, 2022 $ 2,178,762 $ 213,210 Balance at December 31, 2020 $ 579,666 $ 1,897,194 Transfers in (1) 718,158 — Transfers out/principal reductions (1) (307,462) — Net transfers and revaluation losses — (1,131,979) Total gains included in net income 472 — Balance at March 31, 2021 $ 990,834 $ 765,215 (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 Principal Amount Due Upon Maturity Difference (1) Balance at March 31, 2022 $ 10,685,144 $ 10,798,888 $ (113,744) Balance at December 31, 2021 $ 19,323,568 $ 19,018,552 $ 305,016 (1) Represents the amount of gains (losses) 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: March 31, 2022 December 31, 2021 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Senior Notes, due 10/15/2026 $ 1,139,718 $ 1,058,874 $ 1,139,146 $ 1,151,932 Senior Notes, due 1/15/2028 61,230 58,854 61,197 64,251 Senior Notes, due 3/1/2029 743,063 686,115 742,812 752,805 Senior Notes, due 3/1/2031 1,237,943 1,126,338 1,237,605 1,273,675 Senior Notes, due 10/15/2033 841,907 748,034 841,731 857,718 Total Senior Notes, net $ 4,023,861 $ 3,678,215 $ 4,022,491 $ 4,100,381 The fair value of Senior Notes was calculated using the observable bond price at March 31, 2022 and December 31, 2021, respectively. The Senior Notes are classified as Level 2 in the fair value hierarchy.

Mortgage Servicing Rights

Mortgage Servicing Rights	3 Months Ended
	Mar. 31, 2022
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 an internal 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 MSR assets for the three months ended: Three Months Ended March 31, 2022 2021 Fair value, beginning of period $ 5,385,613 $ 2,862,685 MSRs originated 796,616 1,173,164 MSRs sales (253,997) (15,865) Changes in fair value: Due to changes in valuation model inputs or assumptions (1) 767,271 583,307 Due to collection/realization of cash flows (285,215) (298,529) Total changes in fair value 482,056 284,778 Fair value, end of period $ 6,410,288 $ 4,304,762 (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 March 31, 2022 and December 31, 2021 was $492,368,318 and $485,087,214, respectively. The portfolio primarily consists of high-quality performing agency and government (FHA and VA) loans. As of March 31, 2022, delinquent loans (defined as 60-plus days past-due) were 1.31% of our total portfolio. Excluding clients in COVID-19 related forbearance plans, our delinquent loans (defined as 60-plus days past-due) were 0.84% as of March 31, 2022. 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: March 31, 2022 December 31, 2021 Discount rate 9.5 % 9.5 % Prepayment speeds 7.1 % 8.7 % Life (in years) 7.97 7.25 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 March 31, 2022 Mortgage servicing rights $ (281,487) $ (529,914) $ (218,374) $ (416,199) December 31, 2021 Mortgage servicing rights $ (232,658) $ (435,181) $ (198,153) $ (372,018)

Mortgage Loans Held for Sale

Mortgage Loans Held for Sale	3 Months Ended
	Mar. 31, 2022
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: Three Months Ended March 31, 2022 2021 Balance at the beginning of period $ 19,323,568 $ 22,865,106 Disbursements of mortgage loans held for sale 54,173,353 104,103,499 Proceeds from sales of mortgage loans held for sale (1) (63,180,565) (110,276,266) Gain on sale of mortgage loans excluding fair value of other financial instruments, net (2) 368,788 2,133,105 Balance at the end of period $ 10,685,144 $ 18,825,444 (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 three months ended March 31, 2022 is, on average, approximately 21 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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022. The amount owed and outstanding on the Company’s loan funding facilities fluctuates 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 March 31, 2022, $2,292,172 of the Company’s cash was used to buy-down our funding facilities and self-fund, $200,000 of which are buy-down funds that are included in Cash and cash equivalents on the Condensed Consolidated Balance Sheets and $2,092,172 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 $200,000 at any time, unless a margin call has been made or a default has occurred under the relevant facilities. The Company has an estimated $2,092,172 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) merge, consolidate or sell, transfer or lease assets, and; (2) create liens on assets. Funding Facilities Facility Type Collateral Maturity Line Amount Committed Line Amount Outstanding Balance as of March 31, 2022 Outstanding Balance as of December 31, 2021 MRA funding: 1) Master Repurchase Agreement ( 1 )(9) Mortgage loans held for sale (8) 10/20/2023 $ 2,000,000 $ 100,000 $ 246,476 $ 249,119 2) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 12/1/2022 1,500,000 250,000 576,521 1,328,727 3) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 4/21/2023 2,250,000 500,000 527,655 1,714,806 4) Master Repurchase Agreement (2)(9) Mortgage loans held for sale (8) 1/26/2023 2,000,000 1,200,000 1,252,325 1,479,128 5) Master Repurchase Agreement (3)(9) Mortgage loans held for sale (8) 4/20/2023 3,000,000 500,000 585,523 2,264,954 6) Master Repurchase Agreement (4)(9) Mortgage loans held for sale (8) 9/22/2023 2,000,000 500,000 225,067 498,335 7) Master Repurchase Agreement (5)(9) Mortgage loans held for sale (8) 9/15/2023 1,200,000 500,000 167,104 542,846 8) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 6/10/2022 500,000 — — — 9) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 9/22/2023 1,250,000 250,000 243,482 539,257 10) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 8/16/2023 750,000 100,000 89,124 616,165 11) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 12/16/2022 1,000,000 250,000 223,372 253,389 $ 17,450,000 $ 4,150,000 $ 4,136,649 $ 9,486,726 Early Funding: 12) Early Funding Facility (6)(9) Mortgage loans held for sale (8) (6) $ 4,000,000 $ — $ 1,328,175 $ 2,071,154 13) Early Funding Facility (7)(9) Mortgage loans held for sale (8) (7) 3,000,000 — 1,004,783 1,193,712 7,000,000 — 2,332,958 3,264,866 Total $ 24,450,000 $ 4,150,000 $ 6,469,607 $ 12,751,592 (1) Subsequent to March 31, 2022, this facility was amended to decrease the total facility size to $1,000,000. (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. Subsequent to March 31, 2022, this facility was amended to decrease the committed amount to $1,100,000 and was extended to April 26, 2023. (3) Subsequent to March 31, 2022, this facility was amended to decrease the total facility size to $2,000,000 with $250,000 committed and was extended to May 4, 2024. (4) Subsequent to March 31, 2022, this facility was amended to decrease the committed amount to $250,000. (5) Subsequent to March 31, 2022, this facility was amended to decrease the total facility size to $900,000 with $250,000 committed. (6) This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party upon written notice. (7) 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. (8) 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. (9) The interest rates charged by lenders on the funding facilities included the applicable base rate plus a spread ranging from 1.00% to 1.85% for the three months ended March 31, 2022, and the applicable base rate plus a spread ranging from 1.00% to 2.25% for the year ended December 31, 2021. Other Financing Facilities Facility Type Collateral Maturity Line Amount Committed Line Amount Outstanding Balance March 31, 2022 Outstanding Balance December 31, 2021 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 (3) — 8/10/2024 1,000,000 1,000,000 — — 4) MSR line of credit (3) MSRs 10/20/2023 200,000 — — — 5) MSR line of credit (2)(3) MSRs (2) — — — 75,000 $ 3,300,000 $ 1,000,000 $ — $ 75,000 Early Buyout Financing Facility 6) Early buy out facility (3) Loans/ Advances 3/13/2024 $ 2,600,000 $ — $ 1,698,167 $ 1,896,784 (1) Refer to Note 6, Transactions with Related Parties for additional details regarding this unsecured line of credit. (2) This facility was voluntarily paid off and terminated in March 2022. (3) 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 three months ended March 31, 2022, and the applicable base rate plus a spread ranging from 1.45% to 4.00% for the year ended December 31, 2021. Unsecured Senior Notes Facility Type Maturity Interest Rate Outstanding Principal March 31, 2022 Outstanding Principal December 31, 2021 Unsecured Senior Notes (1) 10/15/2026 2.875 % $ 1,150,000 $ 1,150,000 Unsecured Senior Notes ( 2 ) 1/15/2028 5.250 % 61,985 61,985 Unsecured Senior Notes ( 3 ) 3/1/2029 3.625 % 750,000 750,000 Unsecured Senior Notes ( 4 ) 3/1/2031 3.875 % 1,250,000 1,250,000 Unsecured Senior Notes (5) 10/15/2033 4.000 % 850,000 850,000 Total Senior Notes $ 4,061,985 $ 4,061,985 Weighted Average Interest Rate 3.59 % 3.59 % (1) The 2026 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $1,150,000 carrying amount on the Condensed Consolidated Balance Sheets by $10,282 and $10,854 as of March 31, 2022 and December 31, 2021, respectively. (2) 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 $61,985 carrying amount on the Condensed Consolidated Balance Sheets by $412 and $343 as of March 31, 2022, respectively, and $430 and $358, as of December 31, 2021, respectively. (3) The 2029 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $750,000 carrying amount on the Condensed Consolidated Balance Sheets by $6,937 and $7,188 as of March 31, 2022 and December 31, 2021, respectively. (4) The 2031 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $1,250,000 carrying amount on the Condensed Consolidated Balance Sheets by $12,057 and $12,395 as of March 31, 2022 and December 31, 2021, respectively. (5) The 2033 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $850,000 carrying amount on the Condensed Consolidated Balance Sheets by $8,093 and $8,269 as of March 31, 2022 and December 31, 2021, respectively. Refer to Note 2, Fair Value Measurements for information pertaining to the fair value of the Company’s debt as of March 31, 2022 and December 31, 2021.

Transactions with Related Parti

Transactions with Related Parties	3 Months Ended
	Mar. 31, 2022
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%, or the applicable successor benchmark should LIBOR be discontinued. 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 March 31, 2022 and December 31, 2021, there were no outstanding principal amounts due to RHI pursuant to the RHI Line of Credit. In the three months ended March 31, 2022 and March 31, 2021, Rocket Mortgage repaid an aggregate of $762 and $1,000,487, respectively, under the RHI Line of Credit. As of March 31, 2022 and March 31, 2021, the total amount of interest paid under the line was $762 and $487, respectively, with outstanding interest due to RHI of zero and $357, 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. During the three months ended March 31, 2022, and March 31, 2021, ATI repaid an aggregate of $250 and $250, respectively, under the RHI/ATI Debenture. In the three months ended March 31, 2022 and March 31, 2021, the total amount of interest accrued under the RHI/ATI Debenture was $424 and $424, respectively. 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%, or the applicable successor benchmark should LIBOR be discontinued. 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 March 31, 2022 and December 31, 2021 there were no draws on the RHI 2nd Line of Credit and no amounts outstanding. The amounts receivable from and payable to Related Parties consisted of the following as of: March 31, 2022 December 31, 2021 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 $ 10,796 — % $ 9,753 — % Notes receivable and due from affiliates $ 10,796 $ 9,753 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 8,156 — % 12,150 — % Notes payable and due to affiliates $ 29,656 $ 33,650 Services, Products and Other Transactions We have entered into transactions and agreements to provide certain services to Related Parties. We recognized revenue of $3,017 and $3,729 for the three months ended March 31, 2022 and 2021 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 Related Parties. We incurred expenses of $38,994 and $33,191 for the three months ended March 31, 2022 and 2021, 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 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 $2,477 and $2,335 for the three months ended March 31, 2022 and 2021, 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 $19,253 and $17,629 for the three months ended March 31, 2022 and 2021, respectively related to these arrangements.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: March 31, 2022 December 31, 2021 Goodwill and other intangible assets $ 1,286,146 $ 1,296,926 Mortgage production related receivables 329,399 393,513 Disbursement funds advanced 189,598 27,493 Prepaid expenses 109,683 141,512 Non-production-related receivables 101,377 114,557 Other real estate owned 581 492 Other 135,492 141,321 Total other assets $ 2,152,276 $ 2,115,814

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company has income tax expense of $25,849 on Income before income taxes of $1,062,457 for the three months ended March 31, 2022. The Company has income tax expense of $65,832 on Income before income taxes of $2,843,170 for the three months ended March 31, 2021. The Company’s income tax expense varies from the expense that would be expected based on statutory rates due principally to its organizational structure. Several subsidiaries of Holdings, such as Rocket Mortgage, Amrock and other subsidiaries, are single member LLC entities. 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. A provision for state income taxes is required for certain jurisdictions that tax single member LLCs as regarded entities. Other 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 reorganization completed prior to our IPO in 2020, the Company entered into a Tax Receivable Agreement with the LLC Members that will obligate the Company to make payments to the LLC Members generally equal to 90% of the applicable cash tax savings that the Company actually realizes or in some cases is deemed to realize as a result of the tax attributes generated by (i) certain increases in our 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 will retain the benefit of the remaining 10% of these tax savings. On March 31, 2021, the Company exchanged 20,200,000 shares of Class A common stock for the equivalent number of shares of Class D common stock and Holdings Units with RHI, which resulted in an increase in the tax basis of assets of Holdings that is 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. A payment of $40,721 was made to the LLC Members pursuant to the Tax Receivable Agreement during the three months ended March 31, 2022. 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 months ended March 31, 2022, Holdings paid tax distributions totaling $160,629 to holders of Holdings Units other than Rocket Companies. For the three months ended March 31, 2021, Holdings paid tax distributions totaling $200,150 to holders of Holdings Units other than Rocket Companies.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial InstrumentsThe 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 March 31, 2022 2021 Hedging gains (1) $ 1,533,145 $ 1,642,280 (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 March 31, 2022: IRLCs, net of loan funding probability (1) $ 16,445,558 $ 213,210 $ — Forward commitments (2) $ 22,671,123 $ 667,908 $ 34,126 Balance at December 31, 2021: IRLCs, net of loan funding probability (1) $ 21,194,326 $ 538,861 $ — Forward commitments (2) $ 36,476,871 $ 17,337 $ 19,911 (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 $137 of cash pledged to counterparties related to these forward commitments at March 31, 2022 and December 31, 2021, respectively, classified in Other assets in the Condensed Consolidated Balance Sheets. As of March 31, 2022 and December 31, 2021, there was $487,448 and $22,826, respectively, cash on our Condensed Consolidated Balance Sheets from the respective counterparties. 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 March 31, 2022: Forward commitments $ 1,012,358 $ (344,450) $ 667,908 Balance at December 31, 2021: Forward commitments $ 50,225 $ (32,888) $ 17,337 Offsetting of Derivative Liabilities Balance at March 31, 2022: Forward commitments $ (51,074) $ 16,948 $ (34,126) Balance at December 31, 2021: Forward commitments $ (54,922) $ 35,011 $ (19,911) 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.

Commitments, Contingencies, and

Commitments, Contingencies, and Guarantees	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021 was approximately 45 days and 43 days on average, respectively. The UPB of IRLCs was as follows: March 31, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate IRLCs $ 20,391,277 $ 1,076,203 $ 25,937,777 $ 1,239,762 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 March 31, 2022 and December 31, 2021 was $2,122,874 and $2,243,381, 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 $241,223 and $333,594 of loans committed to be sold servicing released at March 31, 2022 and December 31, 2021, respectively. Investor Reserves The following presents the activity in the investor reserves: Three Months Ended March 31, 2022 2021 Balance at beginning of period $ 78,888 $ 87,191 Provision for investor reserves 2,386 5,347 Premium recapture and (indemnification losses paid) (515) 1,399 Balance at end of period $ 80,759 $ 93,937 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 $4,400,289 and $3,682,366, and for principal and interest was $6,511,100 and $8,370,326 at March 31, 2022 and December 31, 2021, 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 March 31, 2022 and December 31, 2021, the Company guaranteed the debt of a related party consisting of three separate guarantees totaling $4,789 and $5,216, respectively. As of March 31, 2022 and December 31, 2021, 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 entered into an agreement with Intuit that, among other things, is expected to give the Company full ownership of the “Quicken Loans” brand by mid-2022 in exchange for certain agreements, subject to the satisfaction of certain conditions. Additionally, we have fulfilled our payment obligations pertaining to the trademark 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, through its subsidiaries, engages in, among other things, 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. As of March 31, 2022 and December 31, 2021, the Company had reserves related to potential damages in connection with any legal proceedings of $15,000. The ultimate outcome of these or other actions or proceedings, including any monetary awards against us, is uncertain and there can be no assurance as to the amount of any such potential awards. Rocket Companies will incur defense costs and other expenses in connection with the lawsuits. Plus, if a judgment for money that exceeds specified thresholds is rendered against us and we fail to timely pay, discharge, bond or obtain a stay of execution of such judgment, it is possible that we could be deemed in default of loan funding facilities and other agreements governing indebtedness. If the final resolution of any such litigation is unfavorable in one or more of these actions, it could have a material adverse effect on our business, liquidity, financial condition, cash flows and results of operations.

Minimum Net Worth Requirements

Minimum Net Worth Requirements	3 Months Ended
	Mar. 31, 2022
Mortgage Banking [Abstract]
Minimum Net Worth Requirements	Minimum Net Worth RequirementsCertain 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 $1,349,382 and $1,794,783 as of March 31, 2022 and December 31, 2021, respectively. As of March 31, 2022 and December 31, 2021, the Company was in compliance with this requirement.

Segments

Segments	3 Months Ended
	Mar. 31, 2022
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 income 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, Truebill 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 periods ended: Three Months Ended March 31, 2022 Direct to Partner Segments All Other Total Revenues Gain on sale $ 1,217,103 $ 258,056 $ 1,475,159 $ 8,627 $ 1,483,786 Interest income 57,601 32,168 89,769 771 90,540 Interest expense on funding facilities (26,727) (14,969) (41,696) — (41,696) Servicing fee income 365,499 — 365,499 715 366,214 Changes in fair value of MSRs 454,380 — 454,380 — 454,380 Other income 167,027 16,477 183,504 133,868 317,372 Total U.S. GAAP Revenue, net 2,234,883 291,732 2,526,615 143,981 2,670,596 Less: Increase in MSRs due to valuation assumptions (net of hedges) (739,217) — (739,217) — (739,217) Adjusted revenue 1,495,666 291,732 1,787,398 143,981 1,931,379 Directly attributable expenses 869,210 120,034 989,244 118,872 1,108,116 Contribution margin $ 626,456 $ 171,698 $ 798,154 $ 25,109 $ 823,263 Three Months Ended March 31, 2021 Direct to Consumer Partner Network Segments Total All Other Total Revenues Gain on sale $ 2,863,600 $ 684,428 $ 3,548,028 $ 4,414 $ 3,552,442 Interest income 58,668 36,061 94,729 516 95,245 Interest expense on funding facilities (42,006) (25,818) (67,824) (20) (67,844) Servicing fee income 291,652 — 291,652 709 292,361 Changes in fair value of MSRs 200,555 — 200,555 — 200,555 Other income 304,912 27,778 332,690 133,422 466,112 Total U.S. GAAP Revenue, net 3,677,381 722,449 4,399,830 139,041 4,538,871 Less: Increase in MSRs due to valuation assumptions (net of hedges) (499,084) — (499,084) — (499,084) Adjusted revenue 3,178,297 722,449 3,900,746 139,041 4,039,787 Directly attributable expenses 973,129 179,777 1,152,906 65,067 1,217,973 Contribution margin $ 2,205,168 $ 542,672 $ 2,747,840 $ 73,974 $ 2,821,814 The following table represents a reconciliation of segment contribution margin to consolidated U.S. GAAP income before taxes for the three months ended: Three Months Ended March 31, 2022 2021 Contribution margin, excluding change in MSRs due to valuation assumptions $ 823,263 $ 2,821,814 Increase in MSRs due to valuation assumptions (net of hedges) 739,217 499,084 Contribution margin, including change in MSRs due to valuation assumptions 1,562,480 3,320,898 Less expenses not allocated to segments : Salaries, commissions and team member benefits 244,044 230,094 General and administrative expenses 192,457 194,494 Depreciation and amortization 21,042 15,304 Interest and amortization expense on non-funding debt 38,664 35,571 Other expenses 3,816 2,265 Income before income taxes $ 1,062,457 $ 2,843,170

Non-controlling Interests

Non-controlling Interests	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Holdings Units Ownership Percentage Holdings Units Ownership Percentage Rocket Companies, Inc.'s ownership of Holdings Units 119,627,004 6.08 % 126,437,703 6.40 % Holdings Units held by our Chairman 1,101,822 0.05 % 1,101,822 0.06 % Holdings Units held by RHI 1,847,777,661 93.87 % 1,847,777,661 93.54 % Balance at end of period 1,968,506,487 100.00 % 1,975,317,186 100.00 % 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 March 31, 2022, our Chairman has not exchanged any Paired Interests. On March 31, 2021, the Company exchanged 20,200,000 shares of Class A common stock for the equivalent number of Class D Common stock and Holdings Units with RHI. This transaction resulted in an increase of Rocket Companies' controlling interest and a corresponding decrease of non-controlling interest of approximately 1%. As of March 31, 2022, Rocket Companies has repurchased 22,458,660 shares of Class A common stock under the Share Repurchase Program authorized in November 2020.

Share-based Compensation

Share-based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation The Company has the 2020 Omnibus Incentive Plan under which restricted stock units and stock options are granted to team members and directors of the Company and its affiliates. The fair value of the share-based awards is estimated on the date of grant based on the market price of the underlying common stock and is amortized on a straight-line basis over the related requisite service periods. During the three months ended March 31, 2022, the Company granted approximately 21,300,000 restricted stock units with an estimated future expense of $281,600. These awards generally vest annually over a three-year period or quarterly over an accelerated four-year period, subject to the grantee’s employment or service with the Company through each applicable vesting date. The Company has an employee stock purchase plan, also referred to as the Team Member Stock Purchase Plan ("TMSPP"), under which eligible team members may direct the Company to withhold up to 15% of their gross pay to purchase shares of common stock at a price equal to 85% of the closing market price on the exercise date. 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. During the three months ended March 31, 2022 and 2021, there were 1,018,875 and zero shares, respectively, purchased by team members through the TMSPP. Additionally, we are allocated costs associated with awards granted by Rock Holdings, Inc. (“RHI”) in the years prior to the reorganization and IPO and certain of our subsidiaries have individual compensation plans that include equity awards and stock appreciation rights. The components of share-based compensation expense included in Salaries, commissions and team member benefits on the Condensed Consolidated Statements of Income and Comprehensive Income is as follows: Three Months Ended March 31, 2022 2021 Rocket Companies, Inc. sponsored plans Restricted stock units $ 42,492 $ 27,601 Stock options 9,576 10,035 Team Member Stock Purchase Plan 2,098 2,923 Subtotal Rocket Companies, Inc. sponsored plans $ 54,166 $ 40,559 RHI restricted stock units 12,775 1,372 Subsidiary plans 169 52 Total share-based compensation expense $ 67,110 $ 41,983

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per ShareThe 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 March 31, 2022 or 2021, respectively. See Note 13, 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 forth the calculation of the basic and diluted earnings per share for the period: Three Months Ended March 31, 2022 2021 Net income $ 1,036,608 $ 2,777,338 Net income attributable to non-controlling interest (982,896) (2,653,636) Net income attributable to Rocket Companies 53,712 123,702 Add: Reallocation of Net income attributable to vested, undelivered stock awards 32 80 Net income attributable to common shareholders $ 53,744 $ 123,782 Numerator: Net income attributable to Class A common shareholders - basic $ 53,744 $ 123,782 Add: Reallocation of net income attributable to dilutive impact of pro-forma conversion of Class D shares to Class A shares (1) 744,379 — Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards (2) 1,418 6,349 Net income attributable to Class A common shareholders - diluted $ 799,541 $ 130,131 Denominator: Weighted average shares of Class A common stock outstanding - basic 122,691,728 115,673,524 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) 3,807,921 6,338,392 Weighted average shares of Class A common stock outstanding - diluted 1,975,379,132 122,011,916 Earnings per share of Class A common stock outstanding - basic $ 0.44 $ 1.07 Earnings per share of Class A common stock outstanding - diluted $ 0.40 $ 1.07 (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 March 31, 2022 and 2021 comprised of $1,356 and $5,889 related to restricted stock units, zero and $422 related to stock options and $62 and $38 related to TMSPP. (3) Dilutive impact of share-based compensation awards for the three months ended March 31, 2022 and 2021 comprised of 3,640,391 and 5,879,491 related to restricted stock units, zero and 421,267 related to stock options and 167,530 and 37,634 related to TMSPP. For the period from January 1, 2022 to March 31, 2022, 23,941,259 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. For the period from January 1, 2021 to March 31, 2021, 1,868,855,039 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.

Business, Basis of Presentati_2

Business, Basis of Presentation and Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	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 below to Variable Interest Entities and Note 13 , Non-controlling Interests. All significant intercompany transactions and accounts between the businesses comprising the Company have been eliminated in the accompanying condensed consolidated financial statements. The Company's derivatives, IRLCs, mortgage loans held for sale, MSRs (including MSRs collateral for financing liability and MSRs financing liability), and investments are measured at fair value on a recurring basis. Additionally, other assets may be required to be measured at fair value in the consolidated financial statements on a nonrecurring basis. Examples of such measurements are mortgage loans transferred between held for investment and held for sale, certain impaired loans, and other real estate owned. For further details of the Company's transactions refer to Note 2, Fair Value Measurements. 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, 2021, 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 income — 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 MSR 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, net title insurance fees and personal finance. 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 $4,464 and $6,680 for the three months ended March 31, 2022 and 2021, 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 $3,004 and $3,549 for the three months ended March 31, 2022 and 2021, 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 $11,398 and $9,578 for the three months ended March 31, 2022 and 2021, 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 $9,315 and $11,632 for the three months ended March 31, 2022 and 2021, 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 $76,978 and $157,167 for the three months ended March 31, 2022 and 2021, 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 $22,022 and $22,491 for the three months ended March 31, 2022 and 2021, respectively. Truebill subscription revenue — The Company recognizes subscription revenue ratably over the contract term beginning on the commencement date of each contract, which is the date the Truebill platform is made available to customers. We have determined that subscriptions to our platform represent a stand-ready obligation to perform over the subscription term. These performance obligations are satisfied over time as the customer simultaneously receives and consumes the benefits. Contracts are one month to one year in length. Subscription revenues were $25,754 for the three months ended March 31, 2022.
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 March 31, 2022 and 2021 consisted of cash on deposit for a repurchase facility and client application deposits, title premiums collected from the insured that are due to the underwritten, 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.
Variable Interest Entities	Variable Interest Entities Upon completion of the reorganization and IPO, Rocket Companies, Inc. became the 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 March 31, 2022.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards There are no recently issued accounting pronouncements adopted for the period.
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 March 31, 2022 or December 31, 2021. 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 and internal models. 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 is determined using an internal 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. MSRs 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 an internal 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. Several subsidiaries of Holdings, such as Rocket Mortgage, Amrock and other subsidiaries, are single member LLC entities. 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. A provision for state income taxes is required for certain jurisdictions that tax single member LLCs as regarded entities. Other 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 reorganization completed prior to our IPO in 2020, the Company entered into a Tax Receivable Agreement with the LLC Members that will obligate the Company to make payments to the LLC Members generally equal to 90% of the applicable cash tax savings that the Company actually realizes or in some cases is deemed to realize as a result of the tax attributes generated by (i) certain increases in our 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 will retain the benefit of the remaining 10% of these tax savings. 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 March 31, 2022 or 2021, respectively. See Note 13, 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)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and 2021 consisted of cash on deposit for a repurchase facility and client application deposits, title premiums collected from the insured that are due to the underwritten, principal and interest received in collection accounts for purchased assets, and a $25,000 bond. March 31, 2022 2021 Cash and cash equivalents $ 2,310,661 $ 2,864,906 Restricted cash 77,027 75,647 Total cash, cash equivalents, and restricted cash in the statement of cash flows $ 2,387,688 $ 2,940,553
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 March 31, 2022 and 2021 consisted of cash on deposit for a repurchase facility and client application deposits, title premiums collected from the insured that are due to the underwritten, principal and interest received in collection accounts for purchased assets, and a $25,000 bond. March 31, 2022 2021 Cash and cash equivalents $ 2,310,661 $ 2,864,906 Restricted cash 77,027 75,647 Total cash, cash equivalents, and restricted cash in the statement of cash flows $ 2,387,688 $ 2,940,553

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
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 three months ended March 31, 2022 or the year ended December 31, 2021. Level 1 Level 2 Level 3 Total Balance at March 31, 2022 Assets: Mortgage loans held for sale $ — $ 8,506,382 $ 2,178,762 $ 10,685,144 IRLCs — — 213,210 213,210 MSRs — — 6,410,288 6,410,288 Forward commitments — 667,908 — 667,908 Total assets $ — $ 9,174,290 $ 8,802,260 $ 17,976,550 Liabilities: Forward commitments $ — $ 34,126 $ — $ 34,126 Total liabilities $ — $ 34,126 $ — $ 34,126 Balance at December 31, 2021 Assets: Mortgage loans held for sale $ — $ 17,014,202 $ 2,309,366 $ 19,323,568 IRLCs — — 538,861 538,861 MSRs — — 5,385,613 5,385,613 Forward commitments — 17,337 — 17,337 Total assets $ — $ 17,031,539 $ 8,233,840 $ 25,265,379 Liabilities: Forward commitments $ — $ 19,911 $ — $ 19,911 Total liabilities $ — $ 19,911 $ — $ 19,911
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: March 31, 2022 December 31, 2021 Unobservable Input Range Weighted Average Range Weighted Average Mortgage loans held for sale Dealer pricing 89% - 101% 98 % 89% - 103% 99 % IRLCs Loan funding probability 0% - 100% 77 % 0% - 100% 78 % MSRs Discount rate 9.0% - 12.0% 9.5 % 9.0% - 12.0% 9.5 % Conditional prepayment rate 6.5% - 15.0% 7.1 % 6.8% - 36.9% 8.7 %
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 months ended March 31, 2022 and 2021. Mortgage servicing rights 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 December 31, 2021 $ 2,309,366 $ 538,861 Transfers in (1) 522,640 — Transfers out/principal reductions (1) (618,320) — Net transfers and revaluation losses — (325,651) Total losses included in net income (34,924) — Balance at March 31, 2022 $ 2,178,762 $ 213,210 Balance at December 31, 2020 $ 579,666 $ 1,897,194 Transfers in (1) 718,158 — Transfers out/principal reductions (1) (307,462) — Net transfers and revaluation losses — (1,131,979) Total gains included in net income 472 — Balance at March 31, 2021 $ 990,834 $ 765,215 (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 Principal Amount Due Upon Maturity Difference (1) Balance at March 31, 2022 $ 10,685,144 $ 10,798,888 $ (113,744) Balance at December 31, 2021 $ 19,323,568 $ 19,018,552 $ 305,016 (1) Represents the amount of gains (losses) 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: March 31, 2022 December 31, 2021 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Senior Notes, due 10/15/2026 $ 1,139,718 $ 1,058,874 $ 1,139,146 $ 1,151,932 Senior Notes, due 1/15/2028 61,230 58,854 61,197 64,251 Senior Notes, due 3/1/2029 743,063 686,115 742,812 752,805 Senior Notes, due 3/1/2031 1,237,943 1,126,338 1,237,605 1,273,675 Senior Notes, due 10/15/2033 841,907 748,034 841,731 857,718 Total Senior Notes, net $ 4,023,861 $ 3,678,215 $ 4,022,491 $ 4,100,381

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	3 Months Ended
	Mar. 31, 2022
Transfers and Servicing [Abstract]
Summary of Changes to MSR Assets	The following table summarizes changes to the MSR assets for the three months ended: Three Months Ended March 31, 2022 2021 Fair value, beginning of period $ 5,385,613 $ 2,862,685 MSRs originated 796,616 1,173,164 MSRs sales (253,997) (15,865) Changes in fair value: Due to changes in valuation model inputs or assumptions (1) 767,271 583,307 Due to collection/realization of cash flows (285,215) (298,529) Total changes in fair value 482,056 284,778 Fair value, end of period $ 6,410,288 $ 4,304,762 (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: March 31, 2022 December 31, 2021 Discount rate 9.5 % 9.5 % Prepayment speeds 7.1 % 8.7 % Life (in years) 7.97 7.25
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 March 31, 2022 Mortgage servicing rights $ (281,487) $ (529,914) $ (218,374) $ (416,199) December 31, 2021 Mortgage servicing rights $ (232,658) $ (435,181) $ (198,153) $ (372,018)

Mortgage Loans Held for Sale (T

Mortgage Loans Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2022
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: Three Months Ended March 31, 2022 2021 Balance at the beginning of period $ 19,323,568 $ 22,865,106 Disbursements of mortgage loans held for sale 54,173,353 104,103,499 Proceeds from sales of mortgage loans held for sale (1) (63,180,565) (110,276,266) Gain on sale of mortgage loans excluding fair value of other financial instruments, net (2) 368,788 2,133,105 Balance at the end of period $ 10,685,144 $ 18,825,444 (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)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Funding Facilities	Funding Facilities Facility Type Collateral Maturity Line Amount Committed Line Amount Outstanding Balance as of March 31, 2022 Outstanding Balance as of December 31, 2021 MRA funding: 1) Master Repurchase Agreement ( 1 )(9) Mortgage loans held for sale (8) 10/20/2023 $ 2,000,000 $ 100,000 $ 246,476 $ 249,119 2) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 12/1/2022 1,500,000 250,000 576,521 1,328,727 3) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 4/21/2023 2,250,000 500,000 527,655 1,714,806 4) Master Repurchase Agreement (2)(9) Mortgage loans held for sale (8) 1/26/2023 2,000,000 1,200,000 1,252,325 1,479,128 5) Master Repurchase Agreement (3)(9) Mortgage loans held for sale (8) 4/20/2023 3,000,000 500,000 585,523 2,264,954 6) Master Repurchase Agreement (4)(9) Mortgage loans held for sale (8) 9/22/2023 2,000,000 500,000 225,067 498,335 7) Master Repurchase Agreement (5)(9) Mortgage loans held for sale (8) 9/15/2023 1,200,000 500,000 167,104 542,846 8) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 6/10/2022 500,000 — — — 9) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 9/22/2023 1,250,000 250,000 243,482 539,257 10) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 8/16/2023 750,000 100,000 89,124 616,165 11) Master Repurchase Agreement (9) Mortgage loans held for sale (8) 12/16/2022 1,000,000 250,000 223,372 253,389 $ 17,450,000 $ 4,150,000 $ 4,136,649 $ 9,486,726 Early Funding: 12) Early Funding Facility (6)(9) Mortgage loans held for sale (8) (6) $ 4,000,000 $ — $ 1,328,175 $ 2,071,154 13) Early Funding Facility (7)(9) Mortgage loans held for sale (8) (7) 3,000,000 — 1,004,783 1,193,712 7,000,000 — 2,332,958 3,264,866 Total $ 24,450,000 $ 4,150,000 $ 6,469,607 $ 12,751,592 (1) Subsequent to March 31, 2022, this facility was amended to decrease the total facility size to $1,000,000. (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. Subsequent to March 31, 2022, this facility was amended to decrease the committed amount to $1,100,000 and was extended to April 26, 2023. (3) Subsequent to March 31, 2022, this facility was amended to decrease the total facility size to $2,000,000 with $250,000 committed and was extended to May 4, 2024. (4) Subsequent to March 31, 2022, this facility was amended to decrease the committed amount to $250,000. (5) Subsequent to March 31, 2022, this facility was amended to decrease the total facility size to $900,000 with $250,000 committed. (6) This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party upon written notice. (7) 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. (8) 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. (9) The interest rates charged by lenders on the funding facilities included the applicable base rate plus a spread ranging from 1.00% to 1.85% for the three months ended March 31, 2022, and the applicable base rate plus a spread ranging from 1.00% to 2.25% for the year ended December 31, 2021.
Schedule of Other Financing Facilities	Other Financing Facilities Facility Type Collateral Maturity Line Amount Committed Line Amount Outstanding Balance March 31, 2022 Outstanding Balance December 31, 2021 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 (3) — 8/10/2024 1,000,000 1,000,000 — — 4) MSR line of credit (3) MSRs 10/20/2023 200,000 — — — 5) MSR line of credit (2)(3) MSRs (2) — — — 75,000 $ 3,300,000 $ 1,000,000 $ — $ 75,000 Early Buyout Financing Facility 6) Early buy out facility (3) Loans/ Advances 3/13/2024 $ 2,600,000 $ — $ 1,698,167 $ 1,896,784 (1) Refer to Note 6, Transactions with Related Parties for additional details regarding this unsecured line of credit. (2) This facility was voluntarily paid off and terminated in March 2022.
Schedule of Unsecured Senior Notes	Unsecured Senior Notes Facility Type Maturity Interest Rate Outstanding Principal March 31, 2022 Outstanding Principal December 31, 2021 Unsecured Senior Notes (1) 10/15/2026 2.875 % $ 1,150,000 $ 1,150,000 Unsecured Senior Notes ( 2 ) 1/15/2028 5.250 % 61,985 61,985 Unsecured Senior Notes ( 3 ) 3/1/2029 3.625 % 750,000 750,000 Unsecured Senior Notes ( 4 ) 3/1/2031 3.875 % 1,250,000 1,250,000 Unsecured Senior Notes (5) 10/15/2033 4.000 % 850,000 850,000 Total Senior Notes $ 4,061,985 $ 4,061,985 Weighted Average Interest Rate 3.59 % 3.59 % (1) The 2026 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $1,150,000 carrying amount on the Condensed Consolidated Balance Sheets by $10,282 and $10,854 as of March 31, 2022 and December 31, 2021, respectively. (2) 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 $61,985 carrying amount on the Condensed Consolidated Balance Sheets by $412 and $343 as of March 31, 2022, respectively, and $430 and $358, as of December 31, 2021, respectively. (3) The 2029 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $750,000 carrying amount on the Condensed Consolidated Balance Sheets by $6,937 and $7,188 as of March 31, 2022 and December 31, 2021, respectively. (4) The 2031 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $1,250,000 carrying amount on the Condensed Consolidated Balance Sheets by $12,057 and $12,395 as of March 31, 2022 and December 31, 2021, respectively. (5) The 2033 Senior Notes are unsecured obligation notes with no asset required to pledge for this borrowing. Unamortized debt issuance costs are presented net against the Senior Notes reducing the $850,000 carrying amount on the Condensed Consolidated Balance Sheets by $8,093 and $8,269 as of March 31, 2022 and December 31, 2021, respectively.

Transactions with Related Par_2

Transactions with Related Parties (Tables)	3 Months Ended
	Mar. 31, 2022
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: March 31, 2022 December 31, 2021 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 $ 10,796 — % $ 9,753 — % Notes receivable and due from affiliates $ 10,796 $ 9,753 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 8,156 — % 12,150 — % Notes payable and due to affiliates $ 29,656 $ 33,650

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: March 31, 2022 December 31, 2021 Goodwill and other intangible assets $ 1,286,146 $ 1,296,926 Mortgage production related receivables 329,399 393,513 Disbursement funds advanced 189,598 27,493 Prepaid expenses 109,683 141,512 Non-production-related receivables 101,377 114,557 Other real estate owned 581 492 Other 135,492 141,321 Total other assets $ 2,152,276 $ 2,115,814

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 2021 Hedging gains (1) $ 1,533,145 $ 1,642,280 (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 March 31, 2022: IRLCs, net of loan funding probability (1) $ 16,445,558 $ 213,210 $ — Forward commitments (2) $ 22,671,123 $ 667,908 $ 34,126 Balance at December 31, 2021: IRLCs, net of loan funding probability (1) $ 21,194,326 $ 538,861 $ — Forward commitments (2) $ 36,476,871 $ 17,337 $ 19,911 (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 $137 of cash pledged to counterparties related to these forward commitments at March 31, 2022 and December 31, 2021, respectively, classified in Other assets in the Condensed Consolidated Balance Sheets. As of March 31, 2022 and December 31, 2021, there was $487,448 and $22,826, respectively, cash on our Condensed Consolidated Balance Sheets from the respective counterparties. 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 March 31, 2022: Forward commitments $ 1,012,358 $ (344,450) $ 667,908 Balance at December 31, 2021: Forward commitments $ 50,225 $ (32,888) $ 17,337 Offsetting of Derivative Liabilities Balance at March 31, 2022: Forward commitments $ (51,074) $ 16,948 $ (34,126) Balance at December 31, 2021: Forward commitments $ (54,922) $ 35,011 $ (19,911)
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 $137 of cash pledged to counterparties related to these forward commitments at March 31, 2022 and December 31, 2021, respectively, classified in Other assets in the Condensed Consolidated Balance Sheets. As of March 31, 2022 and December 31, 2021, there was $487,448 and $22,826, respectively, cash on our Condensed Consolidated Balance Sheets from the respective counterparties. 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 March 31, 2022: Forward commitments $ 1,012,358 $ (344,450) $ 667,908 Balance at December 31, 2021: Forward commitments $ 50,225 $ (32,888) $ 17,337 Offsetting of Derivative Liabilities Balance at March 31, 2022: Forward commitments $ (51,074) $ 16,948 $ (34,126) Balance at December 31, 2021: Forward commitments $ (54,922) $ 35,011 $ (19,911)

Commitments, Contingencies, a_2

Commitments, Contingencies, and Guarantees (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of IRLC Unpaid Principal Balance	The UPB of IRLCs was as follows: March 31, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate IRLCs $ 20,391,277 $ 1,076,203 $ 25,937,777 $ 1,239,762
Schedule of Investor Reserves Activity	The following presents the activity in the investor reserves: Three Months Ended March 31, 2022 2021 Balance at beginning of period $ 78,888 $ 87,191 Provision for investor reserves 2,386 5,347 Premium recapture and (indemnification losses paid) (515) 1,399 Balance at end of period $ 80,759 $ 93,937

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Key Operating Data for Business Segments	Key operating data for our business segments for the periods ended: Three Months Ended March 31, 2022 Direct to Partner Segments All Other Total Revenues Gain on sale $ 1,217,103 $ 258,056 $ 1,475,159 $ 8,627 $ 1,483,786 Interest income 57,601 32,168 89,769 771 90,540 Interest expense on funding facilities (26,727) (14,969) (41,696) — (41,696) Servicing fee income 365,499 — 365,499 715 366,214 Changes in fair value of MSRs 454,380 — 454,380 — 454,380 Other income 167,027 16,477 183,504 133,868 317,372 Total U.S. GAAP Revenue, net 2,234,883 291,732 2,526,615 143,981 2,670,596 Less: Increase in MSRs due to valuation assumptions (net of hedges) (739,217) — (739,217) — (739,217) Adjusted revenue 1,495,666 291,732 1,787,398 143,981 1,931,379 Directly attributable expenses 869,210 120,034 989,244 118,872 1,108,116 Contribution margin $ 626,456 $ 171,698 $ 798,154 $ 25,109 $ 823,263 Three Months Ended March 31, 2021 Direct to Consumer Partner Network Segments Total All Other Total Revenues Gain on sale $ 2,863,600 $ 684,428 $ 3,548,028 $ 4,414 $ 3,552,442 Interest income 58,668 36,061 94,729 516 95,245 Interest expense on funding facilities (42,006) (25,818) (67,824) (20) (67,844) Servicing fee income 291,652 — 291,652 709 292,361 Changes in fair value of MSRs 200,555 — 200,555 — 200,555 Other income 304,912 27,778 332,690 133,422 466,112 Total U.S. GAAP Revenue, net 3,677,381 722,449 4,399,830 139,041 4,538,871 Less: Increase in MSRs due to valuation assumptions (net of hedges) (499,084) — (499,084) — (499,084) Adjusted revenue 3,178,297 722,449 3,900,746 139,041 4,039,787 Directly attributable expenses 973,129 179,777 1,152,906 65,067 1,217,973 Contribution margin $ 2,205,168 $ 542,672 $ 2,747,840 $ 73,974 $ 2,821,814
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 months ended: Three Months Ended March 31, 2022 2021 Contribution margin, excluding change in MSRs due to valuation assumptions $ 823,263 $ 2,821,814 Increase in MSRs due to valuation assumptions (net of hedges) 739,217 499,084 Contribution margin, including change in MSRs due to valuation assumptions 1,562,480 3,320,898 Less expenses not allocated to segments : Salaries, commissions and team member benefits 244,044 230,094 General and administrative expenses 192,457 194,494 Depreciation and amortization 21,042 15,304 Interest and amortization expense on non-funding debt 38,664 35,571 Other expenses 3,816 2,265 Income before income taxes $ 1,062,457 $ 2,843,170

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Schedule of Non-controlling Interests	The following table summarizes the ownership of Holdings Units in Holdings as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Holdings Units Ownership Percentage Holdings Units Ownership Percentage Rocket Companies, Inc.'s ownership of Holdings Units 119,627,004 6.08 % 126,437,703 6.40 % Holdings Units held by our Chairman 1,101,822 0.05 % 1,101,822 0.06 % Holdings Units held by RHI 1,847,777,661 93.87 % 1,847,777,661 93.54 % Balance at end of period 1,968,506,487 100.00 % 1,975,317,186 100.00 %

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	The components of share-based compensation expense included in Salaries, commissions and team member benefits on the Condensed Consolidated Statements of Income and Comprehensive Income is as follows: Three Months Ended March 31, 2022 2021 Rocket Companies, Inc. sponsored plans Restricted stock units $ 42,492 $ 27,601 Stock options 9,576 10,035 Team Member Stock Purchase Plan 2,098 2,923 Subtotal Rocket Companies, Inc. sponsored plans $ 54,166 $ 40,559 RHI restricted stock units 12,775 1,372 Subsidiary plans 169 52 Total share-based compensation expense $ 67,110 $ 41,983

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Earnings per Share	The following table sets forth the calculation of the basic and diluted earnings per share for the period: Three Months Ended March 31, 2022 2021 Net income $ 1,036,608 $ 2,777,338 Net income attributable to non-controlling interest (982,896) (2,653,636) Net income attributable to Rocket Companies 53,712 123,702 Add: Reallocation of Net income attributable to vested, undelivered stock awards 32 80 Net income attributable to common shareholders $ 53,744 $ 123,782 Numerator: Net income attributable to Class A common shareholders - basic $ 53,744 $ 123,782 Add: Reallocation of net income attributable to dilutive impact of pro-forma conversion of Class D shares to Class A shares (1) 744,379 — Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards (2) 1,418 6,349 Net income attributable to Class A common shareholders - diluted $ 799,541 $ 130,131 Denominator: Weighted average shares of Class A common stock outstanding - basic 122,691,728 115,673,524 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) 3,807,921 6,338,392 Weighted average shares of Class A common stock outstanding - diluted 1,975,379,132 122,011,916 Earnings per share of Class A common stock outstanding - basic $ 0.44 $ 1.07 Earnings per share of Class A common stock outstanding - diluted $ 0.40 $ 1.07 (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 March 31, 2022 and 2021 comprised of $1,356 and $5,889 related to restricted stock units, zero and $422 related to stock options and $62 and $38 related to TMSPP.

Business, Basis of Presentati_4

Business, Basis of Presentation and Accounting Policies - Narrative (Details) $ / shares in Units, $ in Billions	Feb. 24, 2022USD ($)$ / shares	Dec. 23, 2021USD ($)	Feb. 25, 2021USD ($)$ / shares	Mar. 31, 2022segment$ / shares	Dec. 31, 2021$ / shares
Basis of Presentation [Line Items]
Number of segments | segment				2
Holdings
Basis of Presentation [Line Items]
Management and voting interest as managing member in Holdings (percent)				100.00%
Class A common stock
Basis of Presentation [Line Items]
Common stock, par value (in dollars per share) | $ / shares				$ 0.00001	$ 0.00001
Common stock dividend declared (in dollars per share) | $ / shares	$ 1.01		$ 1.11
Truebill Inc
Basis of Presentation [Line Items]
Cash consideration | $		$ 1.2
Holdings
Basis of Presentation [Line Items]
Cash distribution | $	$ 2		$ 2.2

Business, Basis of Presentati_5

Business, Basis of Presentation and Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Core Digital Media lead generation revenue
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 4,464	$ 6,680
Professional services fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	3,004	3,549
Real estate network referral fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	11,398	9,578
Contact center
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	9,315	11,632
Closing fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	76,978	157,167
Appraisal revenue
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	22,022	$ 22,491
Subscription revenue
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 25,754

Business, Basis of Presentati_6

Business, Basis of Presentation and Accounting Policies - Cash, Cash Equivalents, and Restricted Cash Reconciliation (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 2,310,661	$ 2,131,174	$ 2,864,906
Restricted cash	77,027	80,423	75,647
Total cash, cash equivalents, and restricted cash in the statement of cash flows	2,387,688	$ 2,211,597	2,940,553	$ 2,054,103
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	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets:
Mortgage loans held for sale	$ 10,685,144	$ 19,323,568
MSRs	6,410,288	5,385,613	$ 4,304,762	$ 2,862,685
Liabilities:
Derivative liability	34,126	19,911
IRLCs
Assets:
Derivative asset	213,210	538,861
Forward commitments
Assets:
Derivative asset	667,908	17,337
Recurring
Assets:
Mortgage loans held for sale	10,685,144	19,323,568
MSRs	6,410,288	5,385,613
Total assets	17,976,550	25,265,379
Liabilities:
Total liabilities	34,126	19,911
Recurring | IRLCs
Assets:
Derivative asset	213,210	538,861
Recurring | Forward commitments
Assets:
Derivative asset	667,908	17,337
Liabilities:
Derivative liability	34,126	19,911
Recurring | Level 1
Assets:
Mortgage loans held for sale	0	0
MSRs	0	0
Total assets	0	0
Liabilities:
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	8,506,382	17,014,202
MSRs	0	0
Total assets	9,174,290	17,031,539
Liabilities:
Total liabilities	34,126	19,911
Recurring | Level 2 | IRLCs
Assets:
Derivative asset	0	0
Recurring | Level 2 | Forward commitments
Assets:
Derivative asset	667,908	17,337
Liabilities:
Derivative liability	34,126	19,911
Recurring | Level 3
Assets:
Mortgage loans held for sale	2,178,762	2,309,366
MSRs	6,410,288	5,385,613
Total assets	8,802,260	8,233,840
Liabilities:
Total liabilities	0	0
Recurring | Level 3 | IRLCs
Assets:
Derivative asset	213,210	538,861
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	Mar. 31, 2022	Dec. 31, 2021
Dealer pricing | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans held for sale	0.89	0.89
Dealer pricing | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans held for sale	1.01	1.03
Dealer pricing | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans held for sale	0.98	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	0.77	0.78
Discount rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs	0.090	0.090
Discount rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs	0.120	0.120
Discount rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs	0.095	0.095
Conditional prepayment rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs	0.065	0.068
Conditional prepayment rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs	0.150	0.369
Conditional prepayment rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
MSRs	0.071	0.087

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Level 3 Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loans Held for Sale
Reconciliation of Level 3 Assets:
Beginning balance	$ 2,309,366	$ 579,666
Transfers in	522,640	718,158
Transfers out/principal reductions	(618,320)	(307,462)
Net transfers and revaluation gains (losses)	0	0
Total gains (losses) included in net income	(34,924)	472
Ending balance	2,178,762	990,834
IRLCs
Reconciliation of Level 3 Assets:
Beginning balance	538,861	1,897,194
Transfers in	0	0
Transfers out/principal reductions	0	0
Net transfers and revaluation gains (losses)	(325,651)	(1,131,979)
Total gains (losses) included in net income	0	0
Ending balance	$ 213,210	$ 765,215

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Option for Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Mortgage loans held for sale, at fair value	$ 10,685,144	$ 19,323,568
Mortgage loans held for sale, unpaid principal balance	10,798,888	19,018,552
Difference	$ (113,744)	$ 305,016

Fair Value Measurements - Liabi

Fair Value Measurements - Liabilities not Recorded at Fair Value on Recurring or Nonrecurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 4,023,861	$ 4,022,491
Carrying Amount | 2026 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	1,139,718	1,139,146
Carrying Amount | 2028 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	61,230	61,197
Carrying Amount | 2029 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	743,063	742,812
Carrying Amount | 2031 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	1,237,943	1,237,605
Carrying Amount | 2033 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	841,907	841,731
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	3,678,215	4,100,381
Estimated Fair Value | 2026 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	1,058,874	1,151,932
Estimated Fair Value | 2028 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	58,854	64,251
Estimated Fair Value | 2029 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	686,115	752,805
Estimated Fair Value | 2031 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	1,126,338	1,273,675
Estimated Fair Value | 2033 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 748,034	$ 857,718

Mortgage Servicing Rights - Cha

Mortgage Servicing Rights - Changes to MSR Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes to MSR Assets
Fair value, beginning of period	$ 5,385,613	$ 2,862,685
MSRs originated	796,616	1,173,164
MSRs sales	(253,997)	(15,865)
Changes in fair value:
Due to changes in valuation model inputs or assumptions	767,271	583,307
Due to collection/realization of cash flows	(285,215)	(298,529)
Total changes in fair value	482,056	284,778
Fair value, end of period	$ 6,410,288	$ 4,304,762

Mortgage Servicing Rights - Nar

Mortgage Servicing Rights - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Transfers and Servicing [Abstract]
UPB of mortgage loans serviced	$ 492,368,318	$ 485,087,214
Delinquent loans as a percentage of total portfolio (percent)	1.31%
Delinquent loans as a percentage of total portfolio, excluding clients in forbearance plans (percent)	0.84%

Mortgage Servicing Rights - Fai

Mortgage Servicing Rights - Fair Value Assumptions (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Transfers and Servicing [Abstract]
Discount rate (percent)	9.50%	9.50%
Prepayment speeds (percent)	7.10%	8.70%
Life (in years)	7 years 11 months 19 days	7 years 3 months

Mortgage Servicing Rights - Dis

Mortgage Servicing Rights - Discount Rate and Prepayment Speeds at Two Different Data Points (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Discount Rate
Discount Rate, 100 BPS Adverse Change	$ (281,487)	$ (232,658)
Discount Rate, 200 BPS Adverse Change	(529,914)	(435,181)
Prepayment Speeds
Prepayment Speeds, 10% Adverse Change	(218,374)	(198,153)
Prepayment Speeds, 20% Adverse Change	$ (416,199)	$ (372,018)

Mortgage Loans Held for Sale (D

Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Mortgage loans held for sale
Balance at the beginning of period	$ 19,323,568	$ 22,865,106
Disbursements of mortgage loans held for sale	54,173,353	104,103,499
Proceeds from sales of mortgage loans held for sale	(63,180,565)	(110,276,266)
Gain on sale of mortgage loans excluding fair value of other financial instruments, net	368,788	2,133,105
Balance at the end of period	$ 10,685,144	$ 18,825,444
Mortgage loans held for sale average holding period	21 days

Borrowings - Narrative (Details

Borrowings - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Debt Instrument [Line Items]
Cash used to buy-down funding facilities and self-fund loans	$ 2,292,172
Buy-down funds	200,000
Self-funding	$ 2,092,172
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%

Borrowings - Funding Facilities

Borrowings - Funding Facilities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	May 10, 2022
Line of Credit Facility [Line Items]
Total Funding Facilities	$ 6,469,607,000	$ 12,751,592,000
Funding Facilities
Line of Credit Facility [Line Items]
Line Amount	24,450,000,000
Committed Line Amount	$ 4,150,000,000
Funding Facilities | Base rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%	1.00%
Funding Facilities | Base rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.85%	2.25%
Funding Facilities | MRA funding
Line of Credit Facility [Line Items]
Line Amount	$ 17,450,000,000
Committed Line Amount	4,150,000,000
Master Repurchase Agreements	4,136,649,000	$ 9,486,726,000
Funding Facilities | Master Repurchase Agreement Due Oct 20 2023
Line of Credit Facility [Line Items]
Line Amount	2,000,000,000
Committed Line Amount	100,000,000
Master Repurchase Agreements	246,476,000	249,119,000
Funding Facilities | Master Repurchase Agreement Due Oct 20 2023 | Subsequent event
Line of Credit Facility [Line Items]
Line Amount			$ 1,000,000,000
Funding Facilities | Master Repurchase Agreement Due Dec 01 2022
Line of Credit Facility [Line Items]
Line Amount	1,500,000,000
Committed Line Amount	250,000,000
Master Repurchase Agreements	576,521,000	1,328,727,000
Funding Facilities | Master Repurchase Agreement Due Apr 21 2023
Line of Credit Facility [Line Items]
Line Amount	2,250,000,000
Committed Line Amount	500,000,000
Master Repurchase Agreements	527,655,000	1,714,806,000
Funding Facilities | Master Repurchase Agreement Due Jan 26 2023
Line of Credit Facility [Line Items]
Line Amount	2,000,000,000
Committed Line Amount	1,200,000,000
Master Repurchase Agreements	$ 1,252,325,000	1,479,128,000
Facility term	12 months
Extension term	3 months
Timing option for extending facility	3 months
Funding Facilities | Master Repurchase Agreement Due Jan 26 2023 | Subsequent event
Line of Credit Facility [Line Items]
Line Amount			1,100,000,000
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	585,523,000	2,264,954,000
Funding Facilities | Master Repurchase Agreement Due Apr 20 2023 | Subsequent event
Line of Credit Facility [Line Items]
Line Amount			2,000,000,000
Committed Line Amount			250,000,000
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	225,067,000	498,335,000
Funding Facilities | Master Repurchase Agreement Due Sep 22 2023 | Subsequent event
Line of Credit Facility [Line Items]
Committed Line Amount			250,000,000
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	167,104,000	542,846,000
Funding Facilities | Master Repurchase Agreement Due Sep 15 2023 | Subsequent event
Line of Credit Facility [Line Items]
Line Amount			900,000,000
Committed Line Amount			$ 250,000,000
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	0	0
Funding Facilities | Master Repurchase Agreement Due Sep 22 2023 Two
Line of Credit Facility [Line Items]
Line Amount	1,250,000,000
Committed Line Amount	250,000,000
Master Repurchase Agreements	243,482,000	539,257,000
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	89,124,000	616,165,000
Funding Facilities | Master Repurchase Agreement Due Dec 16 2022
Line of Credit Facility [Line Items]
Line Amount	1,000,000,000
Committed Line Amount	250,000,000
Master Repurchase Agreements	223,372,000	253,389,000
Funding Facilities | Early Funding
Line of Credit Facility [Line Items]
Line Amount	7,000,000,000
Committed Line Amount	0
Early Funding Facilities	2,332,958,000	3,264,866,000
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	1,328,175,000	2,071,154,000
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	$ 1,004,783,000	$ 1,193,712,000
Timing for review of agreement	90 days

Borrowings - Other Financing Fa

Borrowings - Other Financing Facilities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Line of Credit Financing Facilities	$ 0	$ 75,000,000
Early Buy out Financing Facilities	1,698,167,000	1,896,784,000
Line of Credit Financing Facilities
Line of Credit Facility [Line Items]
Line Amount	3,300,000,000
Committed Line Amount	1,000,000,000
Line of Credit Financing Facilities	$ 0	$ 75,000,000
Line of Credit Financing Facilities | Base rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.45%	1.45%
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 | 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 20 2023
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	0
Committed Line Amount	0
Line of Credit Financing Facilities	0	75,000,000
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	$ 0
Early Buyout Financing Facility
Line of Credit Facility [Line Items]
Line Amount	2,600,000,000
Committed Line Amount	$ 0
Early Buyout Financing Facility | Base rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.45%	1.45%
Early Buyout 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	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Outstanding Principal	$ 4,061,985	$ 4,061,985
Weighted Average Interest Rate (percent)	3.59%	3.59%
2026 Senior Notes
Debt Instrument [Line Items]
Interest Rate (percent)	2.875%
Outstanding Principal	$ 1,150,000	$ 1,150,000
Unamortized debt issuance costs	$ 10,282	10,854
2028 Senior Notes
Debt Instrument [Line Items]
Interest Rate (percent)	5.25%
Outstanding Principal	$ 61,985	61,985
Unamortized debt issuance costs	412	430
Unamortized discounts	$ 343	358
2029 Senior Notes
Debt Instrument [Line Items]
Interest Rate (percent)	3.625%
Outstanding Principal	$ 750,000	750,000
Unamortized debt issuance costs	$ 6,937	7,188
2031 Senior Notes
Debt Instrument [Line Items]
Interest Rate (percent)	3.875%
Outstanding Principal	$ 1,250,000	1,250,000
Unamortized debt issuance costs	$ 12,057	12,395
2033 Senior Notes
Debt Instrument [Line Items]
Interest Rate (percent)	4.00%
Outstanding Principal	$ 850,000	850,000
Unamortized debt issuance costs	$ 8,093	$ 8,269

Transactions with Related Par_3

Transactions with Related Parties - Narrative (Details) - USD ($)	Sep. 16, 2021	Jul. 31, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Lines of credit			$ 0		$ 75,000,000
Interest paid			1,231,000	$ 1,460,000
Marketing and advertising expenses			328,058,000	320,843,000
Affiliated entity
Related Party Transaction [Line Items]
Surplus debenture with related party			$ 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
Lines of credit			0		$ 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
Lines of credit			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
Lines of credit			0		0
Aggregate repayments			762,000	1,000,487,000
Interest paid			762,000	487,000
Interest due			0		357,000
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
Lines of credit			0		0
Draws on line of credit			0		$ 0
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
Interest rate (percent)			8.00%
Aggregate repayments			$ 250,000	250,000
Interest accrued			424,000	424,000
Affiliated entity | Services, products and other transactions
Related Party Transaction [Line Items]
Revenue from related parties			3,017,000	3,729,000
General and administrative expenses from transactions with related parties			38,994,000	33,191,000
Affiliated entity | Promotional sponsorships
Related Party Transaction [Line Items]
Marketing and advertising expenses			2,477,000	2,335,000
Affiliated entity | Bedrock lease agreements
Related Party Transaction [Line Items]
Expenses from transaction with related parties			$ 19,253,000	$ 17,629,000

Transactions with Related Par_4

Transactions with Related Parties - Receivables from and Payables to Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Included in Notes receivable and due from affiliates on the Condensed Consolidated Balance Sheets
Notes receivable and due from affiliates	$ 10,796	$ 9,753
Included in Notes payable and due to affiliates on the Condensed Consolidated Balance Sheets
Notes payable and due to affiliates	29,656	33,650
Affiliated entity
Included in Notes receivable and due from affiliates on the Condensed Consolidated Balance Sheets
Affiliated receivables and other notes	10,796	9,753
Notes receivable and due from affiliates	10,796	9,753
Included in Notes payable and due to affiliates on the Condensed Consolidated Balance Sheets
RHI/ATI Debenture	21,500	21,500
Affiliated payables	8,156	12,150
Notes payable and due to affiliates	$ 29,656	$ 33,650
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	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Goodwill and other intangible assets	$ 1,286,146	$ 1,296,926
Mortgage production related receivables	329,399	393,513
Disbursement funds advanced	189,598	27,493
Prepaid expenses	109,683	141,512
Non-production-related receivables	101,377	114,557
Other real estate owned	581	492
Other	135,492	141,321
Total other assets	$ 2,152,276	$ 2,115,814

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense		$ 25,849	$ 65,832
Income before income taxes		$ 1,062,457	2,843,170
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%
Payments pursuant to tax receivable agreement		$ 40,721
Tax distributions to holders of Holdings Units		$ 160,629	$ 200,150
Income Taxes [Line Items]
Increase in Tax receivable agreement liability	$ 119,456
Offsetting amount to additional paid-in capital	$ 985
Class A common stock
Income Taxes [Line Items]
Shares received in exchange of paired interests	20,200,000
Investment in partnership
Income Taxes [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) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Forward commitments
Derivative Instruments, Gain (Loss) [Line Items]
Hedging gains	$ 1,533,145	$ 1,642,280

Derivative Financial Instrume_4

Derivative Financial Instruments - Notional and Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative liability	$ 34,126	$ 19,911
IRLCs, net of loan funding probability
Derivative [Line Items]
Derivative asset	213,210	538,861
Derivative liability	0	0
Forward commitments
Derivative [Line Items]
Derivative asset	667,908	17,337
Derivative liability	34,126	19,911
Not Designated | IRLCs, net of loan funding probability
Derivative [Line Items]
Notional value	16,445,558	21,194,326
Not Designated | Forward commitments
Derivative [Line Items]
Notional value	$ 22,671,123	$ 36,476,871

Derivative Financial Instrume_5

Derivative Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash pledged to counterparties	$ 0		$ 137,000
Cash pledged from counterparties	487,448,000		$ 22,826,000
Credit losses due to nonperformance of counterparty	$ 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	Mar. 31, 2022	Dec. 31, 2021
Offsetting Assets [Line Items]
Gross Amount of Recognized Assets	$ 1,012,358	$ 50,225
Gross Amounts Offset in the Condensed Consolidated Balance Sheets	(344,450)	(32,888)
Net Assets Presented in the Condensed Consolidated Balance Sheets	667,908	17,337
Gross Amount of Recognized Liabilities	(51,074)	(54,922)
Gross Amounts Offset in the Condensed Consolidated Balance Sheets	16,948	35,011
Net Liabilities Presented in the Condensed Consolidated Balance Sheets	$ (34,126)	$ (19,911)

Commitments, Contingencies, a_3

Commitments, Contingencies, and Guarantees - Narrative (Details) $ in Thousands	Mar. 31, 2022USD ($)guarantee	Dec. 31, 2021USD ($)guarantee
Other Commitments [Line Items]
Administrated escrow deposits for property taxes and insurance	$ 4,400,289	$ 3,682,366
Administrated escrow deposits for principal and interest	6,511,100	$ 8,370,326
Recorded reserves related to potential damages in connection with legal proceedings	$ 15,000
IRLCs
Other Commitments [Line Items]
Average number of days until expiration of interest rate lock commitments	45 days	43 days
Mortgages
Other Commitments [Line Items]
Commitments to sell loans	$ 2,122,874	$ 2,243,381
MSRs with Servicing Released
Other Commitments [Line Items]
Commitments to sell loans	$ 241,223	$ 333,594
Financial guarantee
Other Commitments [Line Items]
Number of separate guarantees | guarantee	3	3
Guaranteed debt total amount	$ 4,789	$ 5,216

Commitments, Contingencies, a_4

Commitments, Contingencies, and Guarantees - Interest Rate Lock Commitments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
IRLCs UPB, Fixed Rate	$ 20,391,277	$ 25,937,777
IRLCs UPB, Variable Rate	$ 1,076,203	$ 1,239,762

Commitments, Contingencies, a_5

Commitments, Contingencies, and Guarantees - Investor Reserves Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investor Reserves
Balance at beginning of period	$ 78,888	$ 87,191
Provision for investor reserves	2,386	5,347
Premium recapture and (indemnification losses paid)	(515)	1,399
Balance at end of period	$ 80,759	$ 93,937

Minimum Net Worth Requirements

Minimum Net Worth Requirements (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
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	$ 1,349,382,000	$ 1,794,783,000
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
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Segment Reporting Information [Line Items]
Gain on sale	$ 1,483,786	$ 3,552,442
Interest income	90,540	95,245
Interest expense on funding facilities	(41,696)	(67,844)
Servicing fee income	366,214	292,361
Change in fair value of MSRs	454,380	200,555
Other income	317,372	466,112
Total revenue, net	2,670,596	4,538,871
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	(739,217)	(499,084)
Adjusted revenue	1,931,379	4,039,787
Directly attributable expenses	1,108,116	1,217,973
Contribution margin	$ 823,263	2,821,814
Number of reportable segments | segment	2
Reportable Segments
Segment Reporting Information [Line Items]
Gain on sale	$ 1,475,159	3,548,028
Interest income	89,769	94,729
Interest expense on funding facilities	(41,696)	(67,824)
Servicing fee income	365,499	291,652
Change in fair value of MSRs	454,380	200,555
Other income	183,504	332,690
Total revenue, net	2,526,615	4,399,830
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	(739,217)	(499,084)
Adjusted revenue	1,787,398	3,900,746
Directly attributable expenses	989,244	1,152,906
Contribution margin	798,154	2,747,840
Reportable Segments | Direct to Consumer
Segment Reporting Information [Line Items]
Gain on sale	1,217,103	2,863,600
Interest income	57,601	58,668
Interest expense on funding facilities	(26,727)	(42,006)
Servicing fee income	365,499	291,652
Change in fair value of MSRs	454,380	200,555
Other income	167,027	304,912
Total revenue, net	2,234,883	3,677,381
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	(739,217)	(499,084)
Adjusted revenue	1,495,666	3,178,297
Directly attributable expenses	869,210	973,129
Contribution margin	626,456	2,205,168
Reportable Segments | Partner Network
Segment Reporting Information [Line Items]
Gain on sale	258,056	684,428
Interest income	32,168	36,061
Interest expense on funding facilities	(14,969)	(25,818)
Servicing fee income	0	0
Change in fair value of MSRs	0	0
Other income	16,477	27,778
Total revenue, net	291,732	722,449
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	0	0
Adjusted revenue	291,732	722,449
Directly attributable expenses	120,034	179,777
Contribution margin	171,698	542,672
All Other
Segment Reporting Information [Line Items]
Gain on sale	8,627	4,414
Interest income	771	516
Interest expense on funding facilities	0	(20)
Servicing fee income	715	709
Change in fair value of MSRs	0	0
Other income	133,868	133,422
Total revenue, net	143,981	139,041
Plus/Less: Decrease (increase) in MSRs due to valuation assumptions (net of hedges)	0	0
Adjusted revenue	143,981	139,041
Directly attributable expenses	118,872	65,067
Contribution margin	$ 25,109	$ 73,974

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
	Mar. 31, 2022	Mar. 31, 2021
Segment reporting reconciliation [Line Items]
Contribution margin, excluding change in MSRs due to valuation assumptions	$ 823,263	$ 2,821,814
Increase in MSRs due to valuation assumptions (net of hedges)	739,217	499,084
Contribution margin, including change in MSRs due to valuation assumptions	1,562,480	3,320,898
Salaries, commissions and team member benefits	853,915	842,199
General and administrative expenses	275,857	291,419
Depreciation and amortization	21,042	15,304
Interest and amortization expense on non-funding debt	38,664	35,571
Other expenses	90,603	190,365
Income before income taxes	1,062,457	2,843,170
Expenses not allocated to segments
Segment reporting reconciliation [Line Items]
Salaries, commissions and team member benefits	244,044	230,094
General and administrative expenses	192,457	194,494
Depreciation and amortization	21,042	15,304
Interest and amortization expense on non-funding debt	38,664	35,571
Other expenses	$ 3,816	$ 2,265

Non-controlling Interests - Sum

Non-controlling Interests - Summary of Ownership (Details) - Holdings - shares	Mar. 31, 2022	Dec. 31, 2021
Noncontrolling Interest [Line Items]
Holdings Units (shares)	1,968,506,487	1,975,317,186
Ownership Percentage	100.00%	100.00%
Rocket Companies Inc.
Noncontrolling Interest [Line Items]
Holdings Units (shares)	119,627,004	126,437,703
Ownership Percentage	6.08%	6.40%
Chairman
Noncontrolling Interest [Line Items]
Holdings Units (shares)	1,101,822	1,101,822
Ownership Percentage	0.05%	0.06%
RHI
Noncontrolling Interest [Line Items]
Holdings Units (shares)	1,847,777,661	1,847,777,661
Ownership Percentage	93.87%	93.54%

Non-controlling Interests - Nar

Non-controlling Interests - Narrative (Details) - shares	Mar. 31, 2021	Mar. 31, 2022
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
Shares repurchased		22,458,660

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in units)	21,300,000
Estimated future expense	$ 281,600
Restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
TMSPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of gross pay eligible for utilization	15.00%
Percentage of closing market price for purchases	85.00%
Shares purchased under the TMSPP	1,018,875,000	0

Share-based Compensation -Share

Share-based Compensation -Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 67,110	$ 41,983
Rocket Companies, Inc sponsored plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	54,166	40,559
Rocket Companies, Inc sponsored plans | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	42,492	27,601
Rocket Companies, Inc sponsored plans | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	9,576	10,035
Rocket Companies, Inc sponsored plans | Team Member Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,098	2,923
RHI and subsidiary plans | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	12,775	1,372
RHI and subsidiary plans | Subsidiary plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 169	$ 52

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
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share Reconciliation
Net income	$ 1,036,608	$ 2,777,338
Net income attributable to non-controlling interest	(982,896)	(2,653,636)
Net income attributable to Rocket Companies	53,712	123,702
Add: Reallocation of Net income attributable to vested, undelivered stock awards	32	80
Net income attributable to common shareholders	53,744	123,782
Numerator:
Net income attributable to Class A common shareholders - basic	53,744	123,782
Add: Reallocation of net income attributable to dilutive impact of pro-forma conversion of Class D shares to Class A shares	744,379	0
Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards	1,418	6,349
Net income attributable to Class A common shareholders - diluted	$ 799,541	$ 130,131
Denominator:
Weighted average shares of Class A common stock outstanding - basic	122,691,728	115,673,524
Add: Dilutive impact of conversion of Class D shares to Class A shares	1,848,879,483	0
Add: Dilutive impact of share-based compensation awards	3,807,921	6,338,392
Weighted average shares of Class A common stock outstanding - diluted	1,975,379,132	122,011,916
Earnings per share of Class A common stock outstanding - basic (in dollars per share)	$ 0.44	$ 1.07
Earnings per share of Class A common stock outstanding - diluted (in dollars per share)	$ 0.40	$ 1.07
Restricted stock units
Numerator:
Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards	$ 1,356	$ 5,889
Denominator:
Add: Dilutive impact of share-based compensation awards	3,640,391	5,879,491
Stock options
Numerator:
Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards	$ 0	$ 422
Denominator:
Add: Dilutive impact of share-based compensation awards	0	421,267
TMSPP
Numerator:
Add: Reallocation of net income attributable to dilutive impact of share-based compensation awards	$ 62	$ 38
Denominator:
Add: Dilutive impact of share-based compensation awards	167,530	37,634

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Class B common stock
Class of Stock [Line Items]
Common stock outstanding (shares)	0	0	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted EPS	23,941,259
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		1,868,855,039