Moody’s moves Rocket outlook to stable

Moody’s Investors Service said it changed its outlook for Rocket Mortgage, LLC to stable from positive and affirmed its Ba1 ratings.

“Moody's changed Rocket Mortgage's outlook to stable from positive given the challenges that the company continues to face due to difficult industry operating conditions as well as in strengthening its purchase origination franchise. As a result, Moody's expects that over the next 12-18 months, profitability will remain well below the company's historical levels and that Rocket Mortgage will be unable to consistently generate net income to assets (excluding mortgage servicing rights (MSR) fair value marks) of more than 5%,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.