In this week’s episode of the Power House podcast, HousingWire President Diego Sanchez is joined by Varun Krishna, CEO of Rocket companies again Rocket Mortgageexploring his background, Rocket’s technology-focused approach to service and maintenance, and the upcoming product change in 2025.
This discussion has been edited for length and clarity. To kick off the episode, Krishna explores his background and how it fits into Rocket’s growth strategy.
Krishna: I grew up in technology, mostly in manufacturing, and spent the first half of my career in enterprise software before switching to consumer products. I came to Rocket for a few simple reasons: There is a huge opportunity to use technology to modernize space. I think the employer should tell people that we are serious about technology. We are serious about change.
Sanchez: In addition to mortgages, it has home search, personal finance and other businesses under the Rocket Companies umbrella. What is your primary focus?
Krishna: One thing they all have in common is a single focus on home ownership. We want to make it easy for you to buy or sell a home, find a home and stay at home.
It starts with a connected original and servicing flywheel – not just helping buyers move into a home but also fixing transactions and developing ongoing, lasting relationships with our customers. It’s about big bets on technology, using artificial intelligence, knowledge engineering, machine learning and more. And it’s about creating a product that represents something that lasts.
Sanchez: Can you talk more about your collaboration Annaly Capital Management? Also, tell us more about your service strategy.
Krishna: I will start by saying that it is an important part of our strategy. I think it comes down to the foundation of having a long-term relationship with your client. If you are good at something, you earn the right to be able to bring it to others.
In Annaly’s case, they care about maintaining their customer base. So, when we provide them with facilitation skills, we actually allow them to retain their customers at a higher rate. This is a great example of winning where we can provide a customer base, deliver a great experience, and create new products and services for them.
Sanchez: What’s the latest and greatest in artificial intelligence at Rocket Companies?
Krishna: I’ll start with an internal tool we called Synopsis. It creates meaning from unstructured data, understanding things like sentiment, tone, intent, pain points and objections. We use that to build insights to train and coach our bankers, customer service professionals and members of our operational team. This technology saves us about 800,000 hours a year.
To conclude the discussion, Krishna sheds light on Rocket Companies’ marketing leadership changes and branding strategies for 2025.
Krishna: We brought in Jonathan Mildenhall. He was the CMO Airbnb again Coca-Cola. He is one of the best marketing leaders in the world. One of the reasons he’s here is to lead Rocket’s brand transformation. It will start at the Super Bowl. You will see a renewed value proposition and a look that resonates deeply with our customers.
We believe we are an apple of home ownership. And you’ll see our marketing strategy reflects that in a bold, consistent and lasting way.
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