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According to Business Insider, with debt sitting at $9.2 trillion for the U.S. lending market, the industry has been the slowest to digitize and have had little incentive to remove friction from the customer application process.


  1. What has Rocket Mortgage added to the industry to become the largest residential mortgage originator by volume?
  2. According to this article, how are legacy lenders responding to digital competitors like Rocket?
  3. Until now, why haven’t legacy lenders overhauled the application process?


Digalaki, E. (2019). How banks are striking back against Quicken Loans and other digital-first lenders in the $9 trillion US mortgage market. Business Insider, July 11 (Retrievable online at