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Jay Farner
Jay Farner
Jay Farner
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Jay Farner (born March 24, 1973) is an American businessman and investor. He is the founder and CEO of Ronin Capital Partners, a venture capital firm. Previously, Farner was the Vice Chairman and chief executive officer of Rocket Companies (formerly known as Quicken Loans), which includes Rocket Mortgage, the nation's largest retail mortgage lender. Farner was also the CEO of Rock Holdings incorporated.[1]

Key Information

Early life and education

[edit]

In 1995, Jay Farner graduated with a bachelor's degree in Finance from Michigan State University. There, he restarted its business fraternity Delta Sigma Pi.[2] Farner currently resides in the Detroit area.[3]

Career

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After his graduation from Michigan State, Jay Farner began his career in finance as a mortgage banker at Quicken Loans Inc (then called Rock Financial) with Dan Gilbert in 1996. In early 1997, Farner first became the director of mortgage banking, then vice president of web mortgage banking in May 1998.[4] Rock Financial's online presence drew the attention of Intuit Inc., which bought the firm in 1999 from Gilbert for $336 million before later selling it back to him in 2002 for $130 million.[5] The company grew to provide direct-to-consumer home loans via the internet in all 50 states.[6] Farner then served as Quicken's president and chief marketing officer, spearheading the company's outreach efforts,[7] and was named one of Crain’s Detroit Business’ 40 Under 40 in 2011.[8]

In 2014, Farner led what USA Today called a “billion-dollar gamble” in a March Madness bracket challenge with Yahoo Sports, with a potential $1 billion prize offered to the winner. While only $3 million was handed out, the challenge generated billions of online engagements and millions of new leads, which PR Week called a "data generation exercise … like gold dust" and others called it the “best PR move” of the year.[9]

In 2015, Farner and Quicken Loans created Rocket Mortgage, the first fully digital end-to-end consumer mortgage lending operation. Rocket Mortgage would later become the first lender to perform electronic closings.[10][11] Upon launch, TechCrunch called Rocket the mortgage industry's “iPhone moment” and compared the process to TurboTax.[12]

Quicken Loans’ Rocket Mortgage released an ad at the 2016 Super Bowl with the tagline “Push Button, Get Mortgage,” whereby clients could get a mortgage via their mobile phone. While some critics said the ease of obtaining loans reminded them of the subprime mortgage crisis, Quicken Loans is “one of the few lenders that came through the financial crisis unscathed,” according to The San Francisco Chronicle, as they were never involved in subprime lending.[13]

In 2017, Farner was promoted to CEO of Quicken Loans.[14] That quarter, Quicken Loans originated $25 billion in direct-to-consumer home loans, surpassing Wells Fargo, with $23 billion, as the largest lender in retail home loans in the US.[15] In August 2020, Quicken's parent company, Rocket Companies Inc, was listed on the New York Stock Exchange, selling 100 million shares and raising $1.8 billion on its first trading day.[16][17]

References

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Jay Farner

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Jay Farner is an American businessman and investor who served as CEO of from 2017 and as CEO of Rocket Companies from 2020 until his retirement in 2023, after nearly three decades with the firm. Born in 1973, Farner earned a in finance from and joined Rock Financial—the predecessor to Loans—in 1996 as a mortgage banker, rapidly advancing through roles including director of mortgage banking, vice president of web mortgage banking, and president and chief marketing officer before ascending to CEO. During his tenure at Rocket Companies, Farner oversaw the launch of Rocket Mortgage in 2015, which pioneered the first fully digital mortgage application process and propelled the company to become the nation's largest mortgage lender by volume. Under his leadership, Rocket Mortgage achieved top rankings in J.D. Power customer satisfaction surveys for primary mortgage origination for 11 consecutive years (2010–2020) and for mortgage servicing for seven years (2014–2020), and continued to rank #1 in mortgage servicing through multiple years post-2020 (11 times total by 2025); while Quicken Loans/Rocket Companies consistently placed in the top 30 of Fortune's "100 Best Companies to Work For" list for 22 consecutive years as of 2025. Farner also served on executive boards for organizations including Community Solutions, StockX, Shinola, the Metropolitan Detroit YMCA, and the Rocket Giving Fund, and was recognized in Crain's Detroit Business "40 Under 40" in 2011. Following his retirement on June 1, 2023, Farner founded Ronin Capital Partners in 2022, a Metro Detroit-based and firm where he serves as CEO and principal, focusing on capital investments in sectors such as , , , and consumer goods; the firm has deployed $25 million across dozens of companies in its first 18 months, with plans to invest $20 million annually. In addition to his work at Ronin, Farner has pursued entrepreneurial ventures, including the acquisition and renovation of a historic property in , which opened as the Franklin Oyster Bar & Eatery on June 10, 2025, alongside a planned adjacent grab-and-go café, Polly's Café.

Early life and education

Birth and family

Jay Farner was born on March 24, 1973, in the metropolitan area of . He grew up in Bloomfield Hills, a suburb of . Farner's father, David Farner, attended and was initiated into in 1964. Farner is married to Wendi Farner. The couple have three children and purchased a home in Bloomfield Hills in 2015, where they have resided since. In February 2023, Farner announced his retirement as CEO of Rocket Companies effective June 1, 2023, stating that he intended to focus more on his family after a 27-year career with the company.

Michigan State University

Jay Farner enrolled at , where he pursued a in through the College of Business. He completed his studies in 1995, gaining a foundational education in financial principles that emphasized analytical skills and market dynamics. During his time at Michigan State, Farner was actively involved in campus organizations, including membership in the professional fraternity, which focused on fostering leadership and networking among students. His coursework, particularly in his junior and senior years, highlighted collaborative projects that built and relationship-building abilities, key elements of the university's culture that influenced his approach to . These experiences helped cultivate his acumen for strategic and interpersonal dynamics in professional settings.

Career

Early positions at Quicken Loans

Upon graduating from with a finance degree, Jay Farner joined Rock Financial, the predecessor to Quicken Loans, in 1996 as a mortgage banker. Within his first year, Farner demonstrated strong performance and rapidly advanced to become one of the company's top professionals. In early 1997, he was promoted to Director of Mortgage Banking Operations, a role in which he oversaw key aspects of the company's expansion. During this foundational period under founder , Farner's responsibilities included managing sales, operations, and training initiatives that supported Rock Financial's early growth in the mortgage sector.

Rise to executive leadership

Farner's career at Quicken Loans advanced steadily through the early 2000s, culminating in his promotion to of Sales, where he led sales teams across the organization and contributed to significant revenue growth by identifying new business opportunities in the competitive sector. In this role, he focused on optimizing sales processes and expanding market reach, helping the company strengthen its position as a leading lender during a period of industry recovery following the . In 2009, Farner was appointed Chief Marketing Officer (CMO), overseeing marketing strategies that propelled Quicken Loans' expansion throughout the , including high-profile campaigns such as the company's first advertisement in 2016 to promote the brand launch. Under his leadership, these initiatives drove brand visibility and customer acquisition, supporting the company's growth to become the nation's largest lender by volume, with origination volumes reaching record levels by the mid-. He emphasized innovative to align with the evolution, fostering synergies between sales and branding efforts. Farner was later elevated to President and CMO, a combined role in which he managed broader operations, including team development and company-wide initiatives to reinforce Quicken Loans' distinctive culture based on its 19 ISMs (Intention, Statement, Motivations) philosophy. In this capacity, he played a key role in cultivating an environment that prioritized employee empowerment and , contributing to the company's consistent recognition as a top . By 2017, marking his 21-year tenure with the firm, Farner's internal progression exemplified the company's emphasis on loyalty and grooming leaders from within for senior roles.

CEO of Rocket Companies

Jay Farner assumed the role of of Quicken Loans (later rebranded as ) in February 2017, but his leadership took on heightened significance in 2020 amid the , as he guided the company through economic uncertainty and a surge in refinancing demand. Under his oversight, Rocket Companies, the parent entity, successfully completed its on August 6, 2020, raising $1.8 billion and achieving a valuation of approximately $36 billion at launch, marking one of the largest IPOs of the year despite market volatility caused by the . Farner's strategic focus on digital lending capabilities enabled the firm to capitalize on low rates and remote operations, originating $320 billion in closed loan volume that year, a record high that underscored the resilience of its platform. During his tenure, Farner emphasized employee well-being and company culture, particularly in response to challenges, implementing initiatives like enhanced policies and community support programs in . These efforts contributed to Rocket Companies ranking No. 5 on Fortune's list of the 100 Best Companies to Work For, its highest placement ever and the 18th consecutive year on the list, reflecting strong employee satisfaction amid rapid growth and operational shifts. Farner's leadership in fostering an inclusive environment was highlighted in the ranking, which praised the company's support for over 19,000 employees through response measures, including charitable contributions exceeding $1 million to local relief efforts. Following the IPO, Rocket Companies' stock experienced significant fluctuations, initially surging over 20% on debut before declining amid rising interest rates and a cooling housing market, with shares dropping more than 80% from their peak by late 2021. Farner navigated these challenges by prioritizing long-term innovation in mortgage technology and diversification into adjacent services like home sales and auto lending. On February 13, 2023, after 27 years with the company, Farner announced his retirement effective June 1, 2023, transitioning the CEO role to longtime executive Bill Emerson on an interim basis to ensure continuity during a period of strategic refocus.

Founding Ronin Capital Partners

After retiring from Rocket Companies in 2023 following a 27-year tenure that shaped his expertise in financial services and real estate, Jay Farner established Ronin Capital Partners in 2022 as its founder and CEO. The Detroit-based firm operates as a venture capital and private equity entity, emphasizing strategic investments in high-growth companies across fintech, real estate technology (proptech), and business services, with a particular focus on opportunities in Detroit, nationwide, and globally to foster innovation and expansion. Ronin Capital Partners quickly built a diversified portfolio, deploying approximately $25 million in its first 18 months of active investing, with an annual target of around $20 million. Notable early investments include a stake in KODE Labs, a Detroit-based proptech advancing smart building solutions, which raised $30 million in a Series B round in 2024 with Ronin's participation. The firm also backed Dynamic Universal Pickleball Rating (DUPR), a Texas-based sports technology platform for player ratings and , aligning with Farner's interest in emerging tech-driven sectors. Additional portfolio companies feature Otis Hotel in Harbor Springs, —a —and Quikly, a marketing technology firm specializing in flash sales and customer engagement tools. By 2025, Farner continued to lead Ronin Capital Partners as CEO and principal, overseeing its growth into broader sectors such as hospitality and sports entertainment. The firm expanded its leadership team by appointing Nikhil Bahadur as Managing Partner and Chief Investment Officer in April 2025 to enhance deal sourcing and portfolio management. Notable recent activities include investments in Shinola, the Detroit heritage brand known for watches and leather goods, and a partnership stake in TMRW Sports' TGL golf league, which announced a Detroit franchise for the 2027 season backed by Ronin and other local investors. Ronin is also exploring the launch of a dedicated investment fund in 2026 to scale its operations and capitalize on Farner's industry connections.

Philanthropy and affiliations

Jay Farner Family Foundation

The Jay Farner Family Foundation was established as a Michigan Domestic Non-Profit Corporation on December 26, 2023, with its principal office located in . Jay Farner serves as the director of the foundation. Nicole McGrail, chief operating officer of Ronin Capital Partners, holds the positions of secretary and treasurer. The foundation operates as a private philanthropic entity, though details regarding its specific mission, initiatives, grants, or partnerships have not been publicly disclosed as of 2025.

Board memberships and community involvement

Jay Farner serves on the for Filson, where he provides strategic oversight to the heritage brand known for its durable outdoor apparel and historical ties to American craftsmanship. In 2024, Farner joined the board of DUPR, the Dynamic Universal Pickleball Rating system, as part of an investment group led by and David Kass that acquired a and injected $8 million to expand the platform's global reach and technological capabilities; his involvement focuses on guiding growth in the rapidly expanding industry. Farner is also a board member of Bedrock Manufacturing, a Detroit-based entity tied to real estate and development ventures, contributing his executive expertise to support urban revitalization efforts through strategic planning and investment decisions. He holds a position on the board of the Metropolitan Detroit , where he has been involved in leadership roles since at least 2021, aiding in and program expansion to enhance and youth development initiatives across the region; as of , he continues to serve on the association's volunteer leadership board. Beyond these roles, Farner has contributed to Detroit's community development by leveraging his connections from Rocket Companies, notably as chairman of the Rocket Community Fund, which in 2021 committed $150 million as part of a joint $500 million philanthropic investment alongside the Gilbert Family Foundation to support neighborhood revitalization, , and economic opportunity programs in underserved areas. Post-2023, following his retirement from Rocket Companies, Farner has maintained advisory and volunteer engagements in , including his ongoing YMCA board service, to foster local business and civic growth through Ronin Capital Partners.

Awards and honors

Business recognitions

In 2011, Jay Farner was recognized as part of Crain's Detroit Business class for his early career impact at Quicken Loans, where he had built key relationships and teams over 16 years. During his tenure as CEO of Rocket Companies from 2017 to 2023, Farner led the company to prominent placements on Fortune's 100 Best Companies to Work For list, including #5 in and #7 in , highlighting his contributions to employee satisfaction and corporate culture amid challenges like the . In the mortgage industry, Farner received the HousingWire Vanguard Award in 2018, which honors emerging leaders driving innovation and excellence in housing finance. He was also named to Inman News's inaugural list in 2023, recognizing influential executives shaping the real estate and mortgage sectors.

Fraternity and academic honors

Farner was initiated into the Gamma Kappa Chapter of at in 1995, where he served as chapter president during its reactivation after a 20-year absence. As a second-generation member—following his father David, initiated in 1964—Farner helped lead the chapter's revival, contributing to its reestablishment as a business on campus. In recognition of his fraternity leadership and broader impact, Farner received Delta Sigma Pi's 2022 Career Achievement Award at the Grand Chapter Congress in , . The award honors his dedication to the , professional excellence in , and commitment to , marking him as a distinguished alumnus who exemplifies the organization's values. Farner's ties to Delta Sigma Pi extend beyond his university years through ongoing support, including providing scholarships for chapter members and promoting the fraternity as a pipeline for Rocket Companies. Academically, he earned a in from State University's Eli Broad College of Business in 1995 and later served on its , reflecting his sustained engagement with his .

References

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