Mortgage giant is shifting focus away from Canada
Rocket Mortgage is exiting the Canadian market, with the company confirming it has begun winding down its operations north of the border. The process is expected to be completed by June 27, 2025, as the company shifts its focus back to the US.
In a statement, Rocket Mortgage Canada assured clients that ongoing loans will proceed as expected. “We want to assure our clients that all loans in process will proceed without issue, and we remain committed to supporting them through this transition,” the company said.
While Rocket Mortgage Canada is ceasing operations, other Canadian businesses under the Rocket umbrella, including Lendesk and Rocket Innovation Studio in Windsor, Ont., will continue operating.
Impact on Windsor workforce
The closure will result in job losses, though the exact number of affected employees has not been disclosed. Some workers may transition into roles at Rocket’s remaining Canadian businesses, while others will receive severance packages that include health benefits and career transition services.
Ward 3 Coun. and Downtown Windsor Business Improvement Association (BIA) board member Renaldo Agostino expressed concern for affected workers but emphasized that Rocket Innovation Studio remains in Windsor.
“My thoughts are with the employees from the Rocket Mortgage side of things that are being displaced, and [I] certainly want to see those people get jobs right away,” Agostino said in an interview with CBC News. “But mostly, it’s just getting rid of the myth where people think that Rocket is leaving downtown, and it’s certainly not.”
Agostino acknowledged the challenges associated with business closures but remained optimistic about new opportunities for Windsor’s workforce.
“When one door closes, another door opens… There’s just some jobs being lost, and my focus is trying to help those people that have lost their jobs to find new employment,” he said. “We have a lot of companies that are working very hard to bring new businesses into Windsor and into the downtown core.”
Rocket Mortgage has not provided further details on the exact reasons behind its departure from Canada but noted its appreciation for employees who contributed to its five-year presence in the country.
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