The benefits of home loan servicing with Rocket Mortgage®

Since 1985, Rocket Mortgage has been on a mission to Help Everyone Home. Homeownership and the security it provides can give everyone their shot at a more prosperous life.

One of the things we pride ourselves on is that our relationship with you doesn’t end when your loan closes. We also service most of the loans we close. Mortgage lenders are the financial institutions that originally loan you the money for your home. Servicers handle the day-to-day tasks of managing your mortgage until it’s paid off.

As a result of a recent acquisition of Mr. Cooper Powered by Rocket Mortgage, we now have the pleasure of welcoming even more homeowners to the family.

Whether you’ve been a client for years or you’re brand-new to Rocket Mortgage, we aim to provide you with a high level of service. When you choose a mortgage lender, it represents a high degree of trust, one we hope to earn and continue to deserve so we can be your lender for life. But before getting into the how, let’s go back to basics.

What is mortgage servicing, and how does it work?

Mortgage servicing companies deal with the management of everything related to your mortgage after you close. Whereas origination deals with everything from application and underwriting to closing, servicing is a long-term relationship that exists until the mortgage is paid off.

Servicers have several responsibilities including the following:

• Collecting monthly payments to forward to mortgage investors
• Managing escrow accounts – sometimes called impound accounts – that enable property tax, homeowners insurance, and mortgage insurance (if applicable) to be broken into monthly increments
• Providing timely communication about payments, escrow, or rate changes
• Running point if you ever need mortgage assistance

Servicers collect payments and manage your mortgage on behalf of mortgage investors who provide immediate funding so that lenders can make more home loans. Most mortgage loans are sold to investors. Lenders choose whether to retain the servicing.

Mortgage servicing rights can be valuable because investors pay the servicer a fee each month to manage the mortgage. If these rights are sold, you’ll get a notice of mortgage servicing transfer informing you where to send your payments. Rocket Mortgage is both an originator and a servicer, enabling us to be your lender for life.

If you’re unsure who your mortgage servicer is, you can check the Mortgage Electronic Registration Systems (MERS). The private organization maintains a directory choose allowing you to locate your servicer based on an identification number or property address.

Key considerations when choosing a servicer – and what sets Rocket Mortgage apart

You cannot choose your servicer. In all cases, your lender chooses the servicer. This holds true even if you want to refinance to get out of a servicing relationship you don’t like for whatever reason. But that doesn’t mean that you have no agency whatsoever.

As mentioned before, lenders have the option to service their own loans, as Rocket Mortgage does. On the last page of your Loan Estimate, there is a section where your lender will disclose whether they intend to service your loan or transfer servicing after it closes.

You can ask your lender whether they plan on servicing your loan. If they do, feel free to ask about payment processes, any tech features they have, and fees that are charged. It’s important to ask these questions because this is a long-term relationship. The servicer also helps if you have any payment issues that ever come up.

Fewer servicing fees compared with competitors

Mortgage servicers charge fees for services provided in relation to the management of your mortgage. Most people won’t deal with fees on a regular basis if payments are made as scheduled and all other obligations are met under the loan. Most servicing fees are avoidable.

The main way that servicers get paid is through a small fee taken from the principal and interest payment before it’s forwarded to the mortgage investor. Referred to as the servicing spread, this can be anywhere from 0.125% – 0.69% of the monthly principal and interest payment, depending on the investor and the agreement with the servicer. This covers most major mortgages.

Servicers may charge other corporate advance fees for things they do on your behalf like handling necessary property maintenance or covering the balance on a partial payment. There are also commonly fees for recasting a loan, which is re-amortizing a loan with an updated principal balance.

Rocket Mortgage doesn’t charge to make a payment by any method.

Flexible and convenient payment options

We offer a variety of options to make your mortgage payment easier through your Rocket Account including the following:

• One-time payment: This may work best for clients who want maximum flexibility.
• Autopay: While you can also auto draft from your bank, we recommend using our payment center to set up autopay as it accounts for changes in your payment based on adjustable rates as well as fluctuations in property taxes and homeowners insurance.
• Biweekly payment: Biweekly payments allow you to break your mortgage payment into more manageable chunks. Additionally, making every payment as scheduled will lead to the equivalent of one extra monthly payment each year applied directly to principal. This allows you to pay off your loan faster and save on interest.

In addition to paying by mail, you can use our self-service options to make your payment online, in the Rocket Mortgage app, or over the phone. It’s easy enough that more than 77% of our clients choose to go paperless with their statements, as of September 2025.

Easier access to your information

When looking for a mortgage company, it’s good to have one that puts information at your fingertips. Rocket Mortgage clients can do all of the following, simply by going online:

• Make and manage payments
• View tax and insurance payment history (requires escrow account)
• View loan information
• Access mortgage documents
• View and track home equity
• See neighborhood home values
• Get your questions and concerns addressed

We have a public amortization calculator, but the one behind the sign in prefills a lot of your information.

Award-winning customer service

The reward for providing exceptional client service isn’t the award. It’s the satisfaction of knowing you’ve done the right thing. But the trophies are nice to have as a proof point for hard work and dedication to craft.

In 2025, we took home J.D. Power’s top rank for Mortgage Servicing for the 11^th time. In the survey of almost 16,000 homeowners, not only were we tops for Overall Satisfaction, but also Ease of Doing Business, Client Care and Digital Experience.

We’ve taken the top spot in Mortgage Origination or Mortgage Servicing a total of 23 times.¹ We want to take care of you from your first preapproval all the way through your last payment.

Trust, transparency, and communication

When you work with a servicer, trust should be your top consideration. They touch so much. Questions about your escrow account? Talk to you servicer. Recasting your mortgage to lower your payment on a permanent basis? Your servicer again. If you need mortgage relief after a natural disaster, your servicer will be right there with you.

You want your lender and servicer to be there when you need them. You’re not a loan number on a page. You’re looking for someone who is a partner in your home ownership journey. We want to be your lender for life.

The bottom line: Choose a lender that serves you well

Your mortgage servicer is pretty important because they manage everything from when your loan closes to your last payment, often 30 years later. Which is where things get complicated. You don’t choose your servicer – your lender does. So the key is to find a lender that’s going to service your loan.

At Rocket Mortgage, we service the majority of the loans we close. Our clients also like us. We’ve got 23 J.D. Power Awards to prove it. If you’re in the market for a mortgage, we’d love to earn your trust. You can apply online.

¹ Rocket Mortgage has won more awards than any other brand in the J.D. Power U.S. Mortgage Servicer Satisfaction Studies. This customer satisfaction study has been conducted annually from 2002 – 2025. Visit JDPower.com/Awards for more information.