Rocket Mortgage, a leading digital mortgage lender, has announced its acquisition of Mr. Cooper in a significant all-stock deal worth $9.4 billion. This move comes shortly after Rocket Mortgage’s acquisition of Redfin, solidifying its position in the market. The merger will see the combined entity handling one in six US mortgages and adding a substantial 7 million clients to Rocket’s already impressive portfolio. Jay Bray, the current CEO of Mr. Cooper, will take on the role of President and CEO of the newly formed company. The acquisition is expected to significantly boost loan volumes and drive down customer acquisition costs for Rocket Mortgage. This strategic move is indicative of Rocket Mortgage’s commitment to expanding its market share and enhancing its offerings in the mortgage industry.