In the last three months, you may have seen advertisements from mortgage lender Quicken Loans encouraging online mortgage applicants to "Push Button, Get Mortgage." Now, Internet shoppers can use a similar process offered by Quicken’s parent company, Rock Holdings, to "Push Button, Get Money." RocketLoans, announced by Rock Holdings on Feb. 2, aims to pre-approve borrowers for personal loans in less than 10 minutes, with funding expected in less than a day. RocketLoans uses the same proprietary technology developed for Quicken’s Rocket Mortgage product, an online mortgage application launched in November that aims to pre-approve borrowers for mortgages in less than eight minutes. “The launch of the RocketLoans’ platform, coming right on the heels of the very successful...
- Rock Holdings' RocketLoans, announced Feb. 2, aims to pre-approve borrowers for personal loans in less than 10 minutes, with funding expected in less than a day.
- This product launch comes after the backlash suffered by Quicken Loans for its Super Bowl 50 Rocket Mortgage commercial, which featured the “Push Button, Get Mortgage” slogan.
- RocketLoans has emphasized that despite the speed of the approval process, the company only offers loan options to qualified borrowers.