Rocket Mortgage president Tim Birkmeier to retire 

Key Takeaways:

– Tim Birkmeier is retiring after nearly 28 years at Rocket Mortgage
– He was named president in January 2022
– Birkmeier’s last day will be at the end of the month
– Rocket confirmed that there will be no immediate replacement for the president role
– Birkmeier started at Rocket Mortgage in 1996 and climbed the ranks to become chief revenue officer
– Rocket Mortgage is focusing on AI to become a financial technology platform
– Rocket Companies reported a net loss in 2023 but plans to continue growing market share through its AI strategy

HousingWire:

Rocket Mortgage president Tim ​​Birkmeier is retiring after a nearly 28-year stint at the Michigan-headquartered lender. 

“It is with great pride that I publicly announce my retirement from Rocket Companies and the mortgage industry,” Birkmeier wrote in a LinkedIn post on Thursday. 

“It was absolutely inspiring to take part in an amazing growth story of a great North American company. … I would like to personally thank Dan Gilbert, Bill Emerson and Jay Farner for allowing me to have a strong leadership voice in the company,” he added.

Birkmeier was named president of Rocket Mortgage in January 2022 when the company made a series of promotions and leadership changes. He took on the role of president in addition to his position as chief revenue officer.

Birkmeier became responsible for all teams and initiatives that create revenue for the company, Rocket stated in January 2022. 

Rocket confirmed that there will be no one taking over the president’s role in the near term. Birkmeier’s last day at Rocket will be at the end of this month, the company said. Birkmeier’s retirement announcement was not made in a filing with the U.S. Securities and Exchange Commission (SEC).

“Though our time together was short, the impact you made in your decades here and on me personally is immense,“ Varun Krishna, CEO at Rocket Companies, wrote in a comment on Birkmeier’s LinkedIn post.

“I cannot thank you enough for all you’ve done for Rocket and wish you nothing but the best on this next chapter in life. We are proud to carry the torch forward.“

After joining Rocket Mortgage in 1996 as a mortgage banker, Birkmeier climbed the ranks as director, regional vice president and vice president of mortgage banking before becoming chief revenue officer in 2017. 

​​Birkmeier’s retirement from Rocket comes as the lender is putting artificial intelligence (AI) front and center to become a financial technology platform.

Rocket Companies, the parent of Rocket Mortgage, reported a GAAP net loss of $390 million in 2023 and an adjusted net loss of $143 million. In its fourth-quarter earnings report, executives stated that the company expects to continue growing market share through its AI strategy. 

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