The tie-up is aimed at allowing banks and credit unions to offer their customers access to Rocket Mortgage, which will be integrated into the technology vendor’s digital banking platform Q2 Innovation Studio.
Rocket Mortgage, a part of Rocket Companies, is said to have offered more than $1.5 trillion in home loans in the last 37 years.
Q2 noted that this new mortgage offering via its platform will allow community banks and credit unions to serve the residential mortgage needs of their communities at no cost to the financial institution.
Rocket Mortgage will be responsible for everything related to the loan and servicing.
Q2 CEO Matt Flake said: “This partnership, giving customers easy access to Rocket Mortgage’s best-in-class digital offerings, adds another marquee solution to the Q2 Innovation Studio and provides an important and timely new option for our bank and credit union customers.”
Nashville, Tennessee-based community bank Fourth Capital is the first lender to expand its product portfolio by adding Rocket Mortgage’s digital home loan application to its mobile and online banking app.
Rocket Mortgage CEO Bob Walters said: “Rocket Mortgage is focused on using technology to create certainty and simplicity in the home loan process – one of the most complex transactions most Americans will experience.
“In this new partnership with Q2, we are able to help more consumers achieve the American Dream of homeownership – right inside the digital banking platform they already use.”
Recently, Rocket Mortgage partnered with Santander Bank to act as the exclusive preferred mortgage provider for the bank’s customers.