Rocket's Q3 10-Q: $709M Net Income, $43.6B Origination Volume, Legal Reserves Jump to $216M
RKT sits 20% above its 52-week low of $10.18.
Summary
Rocket's Q3 10-Q confirms $709 million of net income on $3.28 billion of revenue and $43.6 billion of origination volume, with legal reserves climbing to $216 million from $74 million at year-end.
Key Events · Earnings and Guidance · RKT
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Q3 Net Income Swings to $709M
Total revenue, net was $3,284 million versus $1,695 million a year ago, producing net income of $709 million against a $124 million loss in Q3 2025.
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Origination Volume Up 35%
Closed mortgage loan volume reached $43.6 billion, up $11.2 billion or 35% from $32.4 billion, with servicing fee income of $1,032 million versus $413 million.
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Legal Reserves Jump to $216M
Reserves for legal and administrative proceedings rose to $216 million from $74 million at December 31, 2025, and the Mr. Cooper purchase accounting was finalized with a $100 million increase in litigation and regulatory accruals.
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Liquidity of $11.4B
Total liquidity was $11.4 billion at September 30, 2026, including $2.7 billion of cash and $2.5 billion of undrawn lines of credit; all debt covenants were met.
Analysis · RKT · Finance
The headline numbers were already out on October 29, but the full 10-Q fills in what the press release did not: origination volume of $43.6 billion (up 35%), servicing fee income of $1.0 billion versus $413 million a year ago on the larger Mr. Cooper portfolio, and a swing to $709 million of net income from a $124 million loss. The item that deserves attention is the legal reserve line, which rose to $216 million from $74 million at year-end, alongside a $100 million increase in litigation and regulatory accruals booked through the finalized Mr. Cooper purchase accounting. Liquidity of $11.4 billion and a $2.5 billion undrawn revolver mean the balance sheet is not stretched, but the higher rate environment (30-year mortgage rate up over 80 basis points in the quarter to 7.28%) is a headwind for the fourth quarter that management already flagged in its guidance.
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In the 30 days to Oct 30, 2026, 30.7% of the 1581 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, RKT was trading at $12.25 on NYSE in the Finance sector, with a market capitalization of approximately $33.8B. The 52-week trading range was $10.18 to $24.36. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.