Heather
Lovier
replaced
Bill
Emerson
as
chief
operating
officer
of

Rocket
Companies
following
the
appointment
of
the
board
of
directors
on
June
20.
Emerson
will
remain
as
Rocket’s
president. 

An
industry
veteran,
Lovier
joined


Rocket
Mortgage,
the
company’s
lending
arm,
in
2003.
She
has
focused
the
past
two
decades
on
driving
operational
excellence
and
enhancing
client
experience,
the
company
stated.
Her
previous
position
was
chief
client
experience
officer. 

“Lovier’s
compensation
for
her
new
appointment
will
be
determined
at
a
later
date,”
Rocket
said
in
an
8-K
filing
with
the

Securities
and
Exchange
Commission
(SEC). 

It’s
the
latest
top
executive
change
as
Rocket
pursues
its
mission
of
developing
a
homeownership
journey
powered
by

artificial
intelligence
(AI)
under
Varun
Krishna’s
leadership. 

In
May,
Rocket
announced

Shawn
Malhotra,
a
former

Thomson
Reuters
and

Intel
executive,
as
the
company’s
first
chief
technology
officer.
In
January,
it
hired

Jonathan
Mildenhall,
a
former

Airbnb
and

Coca-Cola
executive,
to
a
newly
created
chief
marketing
officer
position.
Additionally,
fintech
expert

Alastair
(Alex)
Rampell,
who
co-founded
several
fintech
firms,
including

Affirm,
joined
Rocket’s
board
of
directors. 

Last
year,

Jay
Farner
and

Bob
Walters
announced
their
retirements
from
the
company. 

Rocket
executives
are
optimistic
that
their
investments
in
AI
will
enhance
profitability.
According
to
filings
with
the
SEC,
Rocket
reported
a
GAAP
net
profit
of

$291
million
in
first-quarter
2024,
following
a
loss
of
$233
million
in
Q4
2023. 

This
week,
the
company
announced
a

partnership
with

Instabase,
an
AI
company
that
specializes
in
unstructured
data.
Instabase
will
help
extract
unstructured
data
in
loan
documents
and
allow
for
further
lending
process
automation.
The
goal
is
to
close
loans
faster.

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