RKT amends Morgan Stanley repurchase deal, keeps $26.4B capacity

Rhea-AI Filing Summary

Rocket Companies, Inc. (RKT) reported that its mortgage subsidiary, Rocket Mortgage, LLC, entered into Amendment No. 5 to the Pricing Letter under its Master Repurchase Agreement with Morgan Stanley Bank, N.A. on November 26, 2025. The amendment extends the Agreement’s expiration date from December 23, 2026 to November 26, 2027 and makes certain technical changes.

Following this amendment, Rocket Mortgage’s total funding capacity across all master repurchase agreements, early funding facilities, unsecured lines of credit, MSR lines of credit and early buyout facilities was $26.4 billion as of November 26, 2025. This was unchanged from $26.4 billion as of September 30, 2025, and down from $27.5 billion as of December 31, 2024, indicating stable but slightly reduced overall capacity compared with year-end 2024.

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			UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549
			FORM 8-K
			CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
			Date of report (Date of earliest event reported) November 26, 2025
			Rocket Companies, Inc.
			(Exact name of registrant as specified in its charter)
Delaware			001-39432			84-4946470
(State or other jurisdiction			(Commission			(I.R.S. Employer
of incorporation)			File Number)			Identification No.)
			1050 Woodward Avenue
			Detroit, MI 48226
			(Address of principal executive offices) (Zip Code)
			(313) 373-7990
			(Registrant’s telephone number, including area code)
			(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Class A common stock, par value $0.00001 per share

RKT

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On November 26, 2025, Rocket Mortgage, LLC (the "Company"), a Michigan limited liability company and indirect subsidiary of Rocket Companies, Inc., as seller, Morgan Stanley Bank, N.A., as buyer, and Morgan Stanley Mortgage Capital Holdings LLC, as agent for the buyer, entered into Amendment No. 5 to Pricing Letter, related to that certain Master Repurchase Agreement, dated as of May 7, 2024 (as amended, supplemented and otherwise modified from time to time, the “Agreement”), which extended the expiration date of the existing Agreement from December 23, 2026 to November 26, 2027, and effectuated certain other technical changes to the Agreement.

Following the execution of Amendment No. 5 to Pricing Letter for the Agreement, as of November 26, 2025, the total funding capacity of the Company, including pursuant to all master repurchase agreements, early funding facilities, unsecured lines of credit, MSR lines of credit and early buy out facilities, remained at $26.4 billion. This figure compares with $26.4 billion as of September 30, 2025 and $27.5 billion as of December 31, 2024.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 1.01 above is hereby incorporated in this Item 2.03 by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 26, 2025

ROCKET COMPANIES, INC.

By:

/s/ Noah Edwards

Name:

Noah Edwards

Title:

Chief Accounting Officer

FAQ

What agreement did Rocket Companies (RKT) update with Morgan Stanley?

Rocket Mortgage, LLC, an indirect subsidiary of Rocket Companies, Inc., entered into Amendment No. 5 to the Pricing Letter related to its Master Repurchase Agreement with Morgan Stanley Bank, N.A. and Morgan Stanley Mortgage Capital Holdings LLC.

How did the amendment change the expiration date of Rocket’s repurchase agreement?

The amendment extended the Master Repurchase Agreement’s expiration date from December 23, 2026 to November 26, 2027, effectively adding almost one more year of committed availability.

Did Rocket Companies’ total funding capacity change with this amendment?

Following the amendment, Rocket Mortgage’s total funding capacity remained $26.4 billion as of November 26, 2025, the same as $26.4 billion as of September 30, 2025.

How does Rocket Companies’ current funding capacity compare to year-end 2024?

Total funding capacity was $26.4 billion as of November 26, 2025, compared with $27.5 billion as of December 31, 2024, indicating a modest decrease from year-end 2024.

What types of facilities are included in Rocket’s $26.4 billion funding capacity?

The $26.4 billion total funding capacity includes amounts available under master repurchase agreements, early funding facilities, unsecured lines of credit, MSR lines of credit, and early buyout facilities.

Which Rocket executive signed this 8-K related to the agreement amendment?

The report was signed on behalf of Rocket Companies, Inc. by Noah Edwards, who serves as the company’s Chief Accounting Officer.