Rocket Mortgage reveals earnings results

However, the company’s gain on sale margin jumped 15 basis points quarter over quarter to 301 bps. Rocket’s servicing portfolio also grew to $6.41 billion in the first quarter, an improvement of 19% from $5.39 billion in the fourth quarter.

At the end of March, its servicing book unpaid principal balance came in at $546 billion, with its MSRs accounting for 25.4% of its asset base compared to 16.4% at year-end.

“Now, as we move further into the year, we will successfully navigate the mortgage and real estate headwinds by protecting our margin and profitability while continuing to invest in strategic areas such as technology, partnerships and performance marketing to grow share and expand our business for the long term,” Farner said.