Rocket Pro is launching a tool that will help mortgage brokers address conversion issues, as the lender continues its efforts to gain more wholesale business.

Part of Rocket's monthly Power Play initiative, the new app called Quick Counter allows brokers to build, adjust and deliver a competitive refinance loan estimate while the client is still on the phone, the company announced Tuesday. It will help loan officers avoid losing momentum due to callbacks.

"The product itself is attacking the problem around conversion, especially in a really tough market," Austin Niemiec, chief revenue officer at Rocket, told National Mortgage News. "Brokers can use Quick Counter to adjust the options and then deliver a real loan estimate that ensures they're competitive and they can win without stepping away from the conversation."

The app builds on Rocket's investment in its wholesale channel and, similar to October's announcement, is a more permanent fixture in the lender's benefits for brokers. Last month, Rocket rolled out its Orbit platform, which provides brokers with advantages and perks that help them compete, ranging from more certainty on purchase loans to pricing flexibility when a deal needs help.

Rocket also extended the pricing credit its broker partners can receive by working with a Compass buyer's agent. The partnership has generated $3 billion in rate locks since it was announced in February, the company said.

"We are using our all-weather strength as a company to continue to invest and deliver value to brokers," Niemiec said. "These things are building off each other as a strategy where brokers take our technology and then take our fantastic pricing and use them to be more competitive and move faster when it comes to converting loans."

The full launch included:

• The Quick Counter app built into Rocket Pro Navigate, the company's artificial intelligence hub for brokers;
• Live loan estimate generation for cash-out and rate-and-term refinances;
• Real-time adjustments to rates, points and loan terms;
• Options to evaluate lowest closing.

Rocket doesn't yet have an estimate on the tool's expected effectiveness, but believes it will be one of the most used within Rocket Pro Navigate, Niemiec said. Quick Counter was West Capital Lending Broker Seth Hasan's winning idea from The Big Pitch competition at Rocket Pro's RPX event in September.

"This was developed by a broker, voted by the entire broker community, and then we worked side by side with Seth and his team to make sure that we were bringing their vision to life," Niemiec said.