Heather Lovier succeeds Bill Emerson as chief operating officer rocket company Emerson will continue to serve as Rockets president following the board’s appointment on June 20.
Industry veteran Lovier joins Rocket MortgageIn 2003, she became the company’s lending arm. Her previous role was chief customer experience officer.
“Compensation for Lovell’s new appointment will be determined at a later date,” the Rockets said in an 8-K filing with the U.S. Department of Justice. Securities and Exchange Commission (U.S. Securities and Exchange Commission).
This is the latest executive change as Rocket, led by Varun Krishna, works to develop an artificial intelligence (AI)-powered home buying journey.
In May, the Rockets announced that former player Shawn Malhotra had joined the Rockets. Thomson Reuters and Intel executive, serving as the company’s first chief technology officer. In January, it hired former employee Jonathan Mildenhall. Airbnb and Coca Cola executive, serving in the newly created position of Chief Marketing Officer. In addition, fintech expert Alastair (Alex) Rampell co-founded several fintech companies, including confirmjoined the Rockets board of directors.
Last year, Jay Farner and Bob Walters announced their retirement from the company.
Rocket executives are optimistic that their investment in artificial intelligence will improve profitability. Rocket’s GAAP net income in the first quarter of 2024 was $291 million, after a loss of $233 million in the fourth quarter of 2023, according to filings with the SEC.
This week, the company announced a partnership with instar database, an artificial intelligence company focused on unstructured data. Instabase will assist in extracting unstructured data from loan documents and further automate the loan process. The goal is to close the loan faster.
