In an industry where participants are known to change jobs frequently, the leadership team at Rocket Mortgage stands out for its longevity.

Newly promoted CEO Bob Walters has been with the company through various iterations, having joined in 1997. Tim Birkmeier, who moves up to the role of president, has been with the firm even longer, starting in 1996.

Jay Farner, who remains as the vice chairman and CEO of parent company Rocket Cos., also came on board in 1996.

That creates a level of stability in top management at a time when a lot of change is expected in the industry as a whole, as interest rates rise and purchases predominate.

National Mortgage News spoke with Walters following the announcement of his title change. Questions and answers have been edited for length and clarity.