According to the S-1 initial public offering documents filed with the SEC, Rocket’s total share count (public and private) is roughly 1.9858 billion shares. At $22 a unit (the upper end of the range) that works out to a cool $43.69 billion. In short: Wow.
The lack of standardization in the non-agency MBS market has raised concerns about how servicers are handling loans in forbearance. Critical details regarding loan performance are missing, according to investors.