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Rocket CEO Farner’s Pay Nearly Quintuples in Final Year

Thursday, May 04 2023
Lending
Written by  The Mortgage Leader

Jay Farner, set to retire as CEO of Rocket Companies on June 1, received total compensation of $9.469 million last year, up from $1.603 million in 2021, according to a regulatory filing. So reports The Detroit News.

jay farnerThe almost five-fold increase in Farner’s pay came as Rocket’s annual profit plummeted 88%.

Separately, as The Detroit News also reports, United Wholesale Mortgage CEO Mat Ishbia saw his total compensation fall 10% to​​ $6.99 million as profits tumbled 44%.

Read the full article from The Detroit News.

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