#loan-origination

#loan-origination

Sierra Pacific's team originated about $1 billion over the past 12 months, with a portfolio weighted toward conventional loans (63%) and purchase transactions (61.5%), according to mortgage tech platform Modex. By comparison, UHM produced $5.5 billion during the same period, also concentrated in conventional (61.3%) and purchase loans (63.2%). The deal also expands UHM's geographic reach. Sierra Pacific brings stronger footprints in California, Kansas and Tennessee, while UHM's core markets remain in Ohio, Michigan, Texas and Florida.

Toohig highlighted the opportunity for loan officers to originate more HELOCs, despite lower profits compared to first-lien mortgages, as homeowners seek to access their equity.

"This will be our chance to integrate with the ARIVE network. It's another path for them to come to us," said Dan Sogorka, pointing to the significance of this connection in expanding Rocket's accessibility to brokers and their clients.