Rocket Mortgage generated $29.1 billion in closed loan origination volume during the quarter, representing an 18% increase YoY, while net rate lock volume grew 13% YoY to $28.4 billion. However, gain on sale margin decreased to 2.80%, down 19 basis points from the same period last year. "Rocket delivered a standout second quarter, exceeding the high end of guidance with $1.34 billion in adjusted revenue and delivering adjusted diluted EPS of $0.04," said Varun Krishna, CEO and Director of Rocket Companies. "Successfully closing the Redfin (NASDAQ: RDFN ) transaction marks a proud milestone in our legacy." The company completed its all-stock acquisition of Redfin Corporation on July 1, a strategic move that brings one of the most recognized real estate brands in the U.S. under Rocket's umbrella. The acquisition increases Rocket's Class A float to 12% and adds Redfin's platform, which draws 50 million monthly active visitors.