Rocket Mortgage is shutting down its Canadian operations as the company refocuses on its core U.S. business, with plans to complete the exit by June 27, the Detroit-based lender announced Thursday.

The move will reportedly not affect Rocket’s other Canadian ventures, including Lendesk in Vancouver and Rocket Innovation Studio in Windsor, Ontario.

“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,” Rocket Mortgage said in a statement. “While this means stepping away from our lending business in Canada, we thank our team members who have helped us expand over the last five years.”

The company did not disclose how many employees will be affected but said most workers from Rocket Mortgage Canada will receive severance packages that include health coverage and career transition support. Some employees may have opportunities at Rocket’s remaining Canadian businesses, according to a report from CBC News.

Windsor-based Edison Financial, a Rocket Mortgage subsidiary, was officially rebranded as Rocket Mortgage Canada in August 2022.

In January, Rocket Companies, the parent company of Rocket Mortgage, consolidated several subsidiaries under the unified Rocket name.

As part of the rebrand, Amrock has been renamed as Rocket Close, while its title insurance arm will now operate as Rocket Title Insurance Co. Rocket’s wholesale mortgage division, formerly known as Rocket Pro TPO, has been rebranded as Rocket Pro.

Last month, the Consumer Financial Protection Bureau (CFPB) withdrew its lawsuit against Rocket Homes, the Jason Mitchell Group (JMG) and other defendants, formally dismissing the case with prejudice. The decision, filed in U.S. District Court in Detroit, prevents the bureau from refiling the same claims.

In its fourth-quarter 2024 earnings report, Rocket reported adjusted revenue of $1.2 billion in the last three months of the year, which was at the end high end of guidance given to investors during the prior quarter.

Rocket’s origination volume soared by 61% year over year in Q4 2024 as its recent technology innovations spurred higher levels of production among employees. The company estimated that investments in artificial intelligence automation saved 1 million team member hours and allowed the company to serve 54% more clients compared to a year earlier.

Its marketing team also made a splash during last month’s Super Bowl broadcast. As part of the company’s “Own the Dream” campaign, it released a commercial set to a reimagined version of John Denver’s “Take Me Home, Country Roads,” and featured images of Americans returning to the places that define home.

Editor’s note: This story was updated to include information about Rocket’s recent earnings report and removed some information about its lawsuit with the CFPB.

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